Shanghai: Singapore-listed Chinese shipbuilding company JES International has announced that the board has appointed Chu Caixia as non-executive chairman of the company.
Chu is the mother of JES’s ceo Jin Yu, who took over her father, Jin Xin’s position of ceo in the company in March. Jin Xin resigned due to health issues.
JES said Chu is well connected to government officials in China and the company wishes to tap on her extensive experience in dealing with government authorities to advise the company on its relevant dealings.
Financially troubled JES’s application for a restructuring was rejected by Taizhou Intermediate People’s Court this week. It has now submitted an appeal to the Jiangsu High Court.