Air China Ltd., the country's largest carrier, announced the retirement of its board chairman Kong Dong in a statement posted Wednesday.

According to China's regulations on centrally-administered state-owned enterprises (SOEs), bosses of these SOEs usually retire at the age of 60. Kong Dong is 63 years old.

It is rumored that Wang Changshun, the newly-appointed general manager of the carrier's parent company China National Aviation Holding Co., will step into the role vacated by Kong. In announcing Kong's retirement, Air China Ltd. also named Wang as a candidate for its board of directors.

Wang, aged 54, was previously deputy director of the General Administration of Civil Aviation of China.

China's business press carried the story above on Thursday.