China National Building Material Co. Ltd. (CNBM) stock soared 8.57% on Monday, after the company announced that Wei Rushan, the company's president, will serve as the interim chief financial officer (CFO) until a permanent CFO is appointed.
The move came after Chen Xuean, the former CFO, stepped down due to retirement, effective December 3. Wei assumed the CFO duties starting from December 6, according to a filing with the Hong Kong stock exchange.
The appointment of an interim CFO from the company's top management has reassured investors about CNBM's financial leadership and operations. However, the market will likely await the announcement of a permanent CFO for further clarity on the company's long-term financial strategy.
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