(Yicai Global) July 20 -- Aluminum Corporation of China, also known as Chalco, said Liu Jianping has resigned as chairman of the Chinese aluminum behemoth because of a “work adjustment.” He was just two years into his term.

Liu notified the board that he was resigning from all the positions he held at the company, the Beijing-based firm said late yesterday. President Zhu Runzhou was named acting chairman and legal representative, while Chalco finds a permanent replacement for Liu, it added.

Liu was named chairman in June 2021 and was re-appointed the following year. His tenure at Chalco, the world's largest supplier of alumina, electrolytic aluminum, and high-purity aluminum products, was scheduled to end on June 30, 2025.

After serving as deputy general manager of Chalco's aluminum energy management department, Zhu was appointed executive director and president in October 2020. Before joining Chalco, he held several positions as a senior manager at electricity and energy companies.

Chalco's board has nominated Dong Jianxiong as a candidate for the executive director position, the firm noted in yesterday’s statement. Dong, 55 and Chalco's GM, has long experience in the non-ferrous metals smelting industry.

Shares of Chalco [SHA: 601600] closed 1 percent higher at CNY5.86 (82 US cents) each in Shanghai today. The stock has declined 31 percent since the end of last year.

Editor: Futura Costaglione