Asia/Pacific News
Three Directors Leave Brightoil
Three Brightoil Petroleum Limited [HKG:0933] (Brightoil) non-executive directors will resign from the company's board, partly to help the board become more independent, the firm has said.
He Zixin, Ran Longhui, and Sun Zhenchun left the board effective December 30, 2012, but they will remain involved with Brightoil as upstream consultants to a company subsidiary.
"In this manner, the Group will continue to benefit from the wealth of business experience and knowledge that the three ex-Directors have accumulated," the company said in the statement.
Brightoil said the three directors are leaving because of their ages and commitments, and to help Brightoil achieve "a Board composition that comprises at least one-third independent non-executive Directors."
In their new positions offering professional guidance services, the three will each receive annual remuneration of HK$390,000 ($50,300).
Brightoil has made a number of changes to its business this year, including the departure of a number of senior employees in the past six months, and it has said it plans to hire 50 to 60 new staff for its global bunkering team, expand bunkering operations in China, and diversify into crude oil trading in the next year.
