China Kweichow Moutai Distillery Co. Chairman Ji Keliang said he plans to retire and will be replaced by the chairman of its Shanghai-listed company.

Yuan Renguo, chairman of Kweichow Moutai Co., the world’s second-largest distiller by market value, will be made chairman of the parent, Ji said in a phone interview today.

Ji didn’t say when the changes will take place. An internal notice has been posted, asking employees for their opinion on the planned succession, he said.

Kweichow Moutai gained 0.3 percent to 204.93 yuan at the 3 p.m. close of trading in Shanghai, boosting its gain this year to 23 percent.

Source:Retire, Doesn’t Provide Date