Chinalco Chairman Yao Lin Steps Down After Three Years

What’s new: Yao Lin, the chairman of Aluminum Corp. of China, known as Chinalco, is stepping down three years after taking the helm of the country’s biggest state-owned aluminum maker, the company said Tuesday.

Yao, 57, is very likely to transfer to another important position, several people familiar with the matter told Caixin. They didn’t say what new position Yao is likely to take. The executive was also the Communist Party leader at the company.