COLI has yet to provide an explanation for former chairman and CEO Hao Jianmin’s sudden departure
Top five mainland developer China Overseas Land and Investment (COLI) this week appointed Yan Jianguo to serve as the Hong Kong-listed real estate company’s new CEO, according to an announcement to the Hong Kong stock exchange.
The change in top level leadership at the subsidiary of China State Construction Engineering Corporation (CSCEC) comes less than a month after former chairman and CEO Hao Jianmin abruptly left the company where he had served for more than 29 years. The company has provided no explanation for the sudden departure of the 51-year-old leader.
Yan takes over the top executive role at COLI after serving most recently as Chief Information Officer and Assistant General Manager with rival Longfor Properties, but is still a familiar face at the state-run giant.
The 50-year-old executive had joined Longfor two years ago after working with CSCEC and COLI since 1989. Although Yan has spent much of his career to date with CSCEC, the trained engineer had previously worked for COLI from 1990 to 1992 in Shenzhen, and according to the company’s announcement, was “assigned” to the developer a second time in 2001 serving in various positions in Guangzhou, Shanghai and Suzhou before returning to the parent company in 2011.
Yan takes over the CEO role from Xiao, who held both chairman and CEO positions before relinquishing the executive role this month.
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