Tonghai Chen

AAA

DEFINITION of 'Tonghai Chen'

A former director and chairman of Chinese energy and chemical company Sinopec Corporation, and fomer president of Sinopec Group. Chen was suddenly removed from his position in 2007, and in 2009 the Chinese government sentenced him to death with a two-year reprieve for accepting $28 million in bribes.

INVESTOPEDIA EXPLAINS 'Tonghai Chen'

Chen was born in 1948 in Shandong, China, and earned his bachelor's degree from the Northeastern Petroleum Institute. He began his career as a geologist with the Daqing Research Institute, then worked for the Zhejiang Science and Technology Commission and Zhenhai Petroleum and Petrochemical General Plant.





In 1983 Chen became a politician, eventually becoming mayor of Ningbo City in 1992 and vice minister of the State Development and Planning Commission. He then joined China Petrochemical Company Group as its vice president in 1998.



RELATED TERMS
  1. Chairman

    An executive elected by a company's board of directors that is ...
  2. Corporate Headquarters

    A place where a company's executive offices and executives' direct ...
  3. Board Of Directors - B Of D

    A group of individuals that are elected as, or elected to act ...
  4. Outside Director

    Any member of a company's board of directors who is not an employee ...
  5. CEO Confidence Survey

    A monthly survey of 100 CEOs from a variety of industries in ...
  6. Corporate Action

    Any event that brings material change to a company and affects ...
Related Articles
  1. Evaluating The Board Of Directors
    Insurance

    Evaluating The Board Of Directors

  2. What Investors Can Learn From Insider ...
    Markets

    What Investors Can Learn From Insider ...

  3. The Basics Of Corporate Structure
    Investing Basics

    The Basics Of Corporate Structure

  4. Evaluating A Company's Management
    Active Trading Fundamentals

    Evaluating A Company's Management

comments powered by Disqus
Hot Definitions
  1. Certificate Of Deposit - CD

    A savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate ...
  2. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  3. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
  4. Ratio Analysis

    Quantitative analysis of information contained in a company’s financial statements. Ratio analysis is based on line items ...
  5. Days Payable Outstanding - DPO

    A company's average payable period. Calculated as: ending accounts payable / (cost of sales/number of days).
  6. Net Sales

    The amount of sales generated by a company after the deduction of returns, allowances for damaged or missing goods and any ...
Trading Center