Head of Sinovel Resigns amid Company Struggles

(Beijing) – The chairman and acting president of Sinovel Wind Energy Group Co. has resigned as of one of the country's largest makers of wind turbines struggles amid an industry downturn.

Wei Chiyuan submitted a letter of resignation on May 13, the company said. Company director Liu Hui also resigned.

Wang Yuan will take over as Sinovel chairman and Liu Zhengqi becomes president. Wang has been director of Sinovel's board since July 2008. He is also the vice president of Dalian Huarui Heavy Industry Group Co., a subsidiary of Sinovel's largest shareholder, Dalian DHI DCW Group. Liu has been Sinovel's vice president since 2006.