Why Did Chang Xiaobing Resign as Chief of China Telecom?


Chang Xiaobing has resigned as chairman and chief executive officer of China Telecom Corp.

The Wall Street Journal reported that Mr. Chang’s resignation came after the country’s anti-graft watchdog said that it had detained him.

Mr. Chang will be replaced by President and Chief Operating Officer Yang Jie, who is taking Chang’s duties, effective Dec. 30.

Mr. Yang will continue performing Chang’s responsibilities until a new appointment is made by the company’s board of directors.

On Sunday, China’s Central Commission for Discipline Inspection said that they are investigating Mr. Chang for severe disciplinary violations.

Mr. Chang previously served as a boss of China Unicom (Hong Kong) Ltd.

These anti-graft investigations are being carried out under the directions of China’s President Xi Jinping. Under such probes, more than 100,000 officials – from the military, oil industry and the finance sector –have been caught.