Approved by the state council, Baosteel group co., LTD and Wisco iron and steel (group) company restructured China Baowu steel group co., LTD. Morning of October 31, 2016, China Baowu Group held a management personnel meeting with the leaders above middle level. Authorized by the department leadership of China, the stuff from bureau of officials announced main leaders of China Baowu steel group co., LTD. : Ma Guoqiang as chairman, party secretary of China Baowu Group, whose position in Wisco iron and steel (group) company as chairman, party secretary removed naturally; Chen Derong as general manager of China Baowu Group.whose position in Baosteel group co., LTD., as general manager removed naturally. Xu Lejiang’s position of baosteel group as chairman, party secretary removed naturally. At the same time, the state-owned assets supervision and administration commission decided: Chen derong will be the board director and vice party secretary of China Baowu Group. Whose position as chairman and general manager will remove naturally, and shall be dealt with in accordance with the relevant laws and articles of association.
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