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China Yuchai Gets a New President

Following the abrupt resignation of director and President Benny H. Goh on May 27, China Yuchai International (NYSE: CYD  ) has been operating with an interim officer, Kok Ho Leong, who also held the position of CFO while a replacement was found.

The heavy-duty diesel engine manufacturer announced today that board director Weng Ming Hoh was appointed to serve as president effective July 17. Hoh previously served as the company's CFO and acting president, and with his assumption of his new position, Leong will relinquish his role as acting president.

The brief announcement made at the time of Goh's resignation indicated simply that he was leaving the company effective May 1 to "pursue other opportunities." Although the company wished him well in his new endeavor, it's an unusual turn of events for a company, as most wish for an orderly transition process. However, China Yuchai's stock has risen nearly 9% since Goh's resignation.


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  • Report this Comment On July 22, 2013, at 11:25 PM, JGHendrik wrote:

    Was hoping for the stock price to continue upwards but it slid down after the dividends were paid. The new President doesn't add to my confidence either.

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Rich Duprey
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Rich has been a Fool since 1998 and writing for the site since 2004. After 20 years of patrolling the mean streets of suburbia, he hung up his badge and gun to take up a pen full time.

Having made the streets safe for Truth, Justice and Krispy Kreme donuts, he now patrols the markets looking for companies he can lock up as long-term holdings in a portfolio. So follow me on Facebook and Twitter for the most important industry news in retail and consumer products and other great stories.

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7/2/2015 4:02 PM
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