The board of directors of financially troubled Titan Petrochemical Group has said that Tang Chaozhang has been appointed as an executive director and the ceo of the company, and Fan Qinghua has been appointed as a non-executive director with effect from this week.

Tang, aged 38, is currently a vice president of Guangdong Zhenrong Energy, and Fan, aged 53, is currently a director and deputy general manger of Guangdong Zhenrong Energy. Zhenrong has been the proposed white knight coming in to rescue Titan.

Following the new appointment, Zhao Xuguang, executive director and chairman of the board has ceased to act as the acting chief executive of the company with effect from 26 March

Source from Sino Ship News