Aluminum Corp of China (Chinalco) Chairman Xiao Yaqing, the man behind the company’s investments in Rio Tinto, is likely to leave for a senior position in the Chinese government, the Wall Street Journal reported, citing a company executive. Xiao is expected to become deputy secretary-general of the State Council said Lu Youqing, deputy general manager of Chinalco. Although Lu didn’t say when Xiao might take his job, he indicated a formal announcement could be made soon. A State Council spokesman declined to comment. It is not unusual for successful heads of state-owned enterprises to move into government roles. Pevious CEOs who became senior government officials include People’s Bank of China Governor Zhou Xiaochuan who headed one of the country’s top commercial lenders in the late 1990s. Xiao took over at Chinalco in 2004.
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