[Executive News] China Eastern Airlines Co., Ltd. (referred to as " Eastern Airlines ": 600115) announced a major personnel change. Chairman Liu Shaoyong resigned from the board of directors due to "resignation reasons". With the remuneration committee chairman, members and ( Hong Kong stock ) authorized representative and other positions.
At the same time, the board of directors elected Vice Chairman Li Yangmin to act as chairman and chairman of the nomination and remuneration committee of the board of directors, and to act as the legal representative and authorized representative.
According to daily news, in late July this year, at a small-scale cadre meeting of China Eastern Airlines Group , superior department leaders announced Liu Shaoyong’s “retirement.” China Eastern Airlines Group’s General Manager Li Yangmin is in charge of the overall work of China Eastern Airlines.
Liu Shaoyong has been in charge of China Eastern Airlines for more than 13 years, the only one among the three major airlines. He has served as a director and chairman of China Eastern Airlines since March 2009, and has been at the helm of China Eastern Airlines for a total of 13 years and 5 months since his resignation.
Liu Shaoyong was born in in November 1958 and will be 64 years old. He joined the civil aviation industry in 1978, graduated from the Civil Aviation Flight College of China, and has the title of super pilot. Having worked in the civil aviation industry for 44 years, he is truly a "veteran" in the civil aviation industry.
Liu Shaoyong served as the general manager of China Eastern Airlines in December 2000. He was a young "young marshal" among central enterprises; he served until October 2002, and then served as deputy director of the Civil Aviation Administration.
In August 2004, Liu Shaoyong moved to China Southern Airlines Group. From to December 2008, he served as the general manager of China Southern Airlines Group, and from November 2004 to December 2008, the chairman of China Southern Airlines Co., Ltd.
After December 2008, Liu Shaoyong returned to the familiar China Eastern Airlines Group. From 2016 to 2016, he served as the general manager and deputy party secretary of China Eastern Airlines Group, and since May 2009, he has been the chairman of China Eastern Airlines Co., Ltd. Since December 2016, Liu Shaoyong has served as Chairman and Party Secretary of China Eastern Airlines Group. China Eastern Airlines Group is the controlling shareholder of China Eastern Airlines Co., Ltd., holding more than 40% of the shares.
It should be noted that China Eastern Airlines Group is one of the 97 enterprises directly under the central government and is a deputy ministerial-level unit. As the "top leader" of China Eastern Airlines Group, Liu Shaoyong is also a "deputy minister". He also serves as a member of the National Committee of the Chinese People's Political Consultative Conference and should remain normal Perform duties.
China Eastern Airlines Co., Ltd. has always been the core asset of China Eastern Airlines Group. However, due to the epidemic, the tourism and aviation industries have been extremely difficult to operate.
From 2020 to 2021, China Eastern Airlines suffered consecutive losses of 12.55 billion yuan and 13.28 billion yuan. According to the performance forecast, the net profit for the first half of 2022 is expected to be about -17 billion yuan to -19.5 billion yuan. If the median value is taken, the loss will be about 18.25 billion yuan. , In other words, during the two-and-a-half-year financial cycle, China Eastern Airlines Co., Ltd. suffered a cumulative loss of at least approximately 42.8 billion yuan, a heavy loss.
Of course, the huge losses are not limited to China Eastern Airlines. Data shows that China Southern (600029) has a cumulative loss of 22.8 billion yuan from 2020 to 2021, while Air China (601111) has suffered even more losses, with a loss of 34.6 billion yuan in two years. However, domestically produced oral COVID-19 drugs have begun to be used in some provinces, and the epidemic will eventually end, and airlines' losses will not last long.
Li Yangmin, who is currently in charge of the overall work of China Eastern Airlines Group, was born in 1963 and is now 59 years old. Will he succeed Liu Shaoyong and become the "top leader" of China Eastern Airlines Group?
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