UPDATE 1-Yancoal Australia appoints new chairman

Reuters · 09/15/2023 09:14
UPDATE 1-Yancoal Australia appoints chairman

Adds background of Baocai Zhang in paragraph 3 and details of appointment in paragraph 2

- Coal miner Yancoal Australia YAL.AX on Friday said its chairman Baocai Zhang has stepped down and is being replaced by Gang Ru, a -executive director.

Gang Ru will assume the role starting Sept. 15, Yancoal said.

Baocai Zhang held different roles in Yancoal since its incorporation in 2004 and was appointed its chairman in June 2018.

The Sydney-headquartered company had earlier this year
the early debt repayment of $333 million after high coal prices supported its cash flows.

(Reporting by Nausheen Thusoo in Bengaluru; Editing by Rashmi Aich and Sonia Cheema)