Wednesday, August 18, 2010

China Mobile Appoints Mr. Li Yue as CEO

Mr. Wang Jianzhou has stepped down as CEO of China Mobile but remains as Executive Director and Chairman of the company.

Mr. Li Yue assumes the role of CEO and continues as a Director of the company. Li (age 51) joined China Mobile's Board of Directors in 2003. He previously served as Deputy Director General and Chief Engineer of Tianjin
Long-Distance Telecommunications Bureau, among many other postings. Li holds a Bachelor's Degree in telephone exchange from the Correspondence College of Beijing University of Posts and Telecommunications, a Master's Degree in business administration from Tianjin University and a doctoral degree in business administration from Hong Kong Polytechnic University.

China Mobile noted that it has not entered into any service contract with Mr. Li, who will be subject to retirement by rotation and re-election at annual general meetings of the company every three years. Mr. Li will receive a salary of HK$100,000 per month, plus a discretionary bonus and a discretionary award of share options as may be determined by the Board with reference to his performance, together with an annual director's fee of HK$180,000 as proposed by the Board and approved by shareholders of the company.