Telstra appoints new chair and CEO in Australia

CANBERRA, May 8 (Xinhua) -- Australia telecommunications and media company Telstra Corporation announced on Friday to replace its two leaders, appointing current senior executive David Thodey as chief executive officer, and current board member Catherine Livingstone as chair.

"Our strategy remains unchanged, to continue to provide customers with world-class products and services," Telstra's group managing director of enterprise and government said in a statement.

According to the group managing director, Thodey's appointment will take effect when incumbent CEO Sol Trujillo leaves Telstra toreturn to the United States.

Livingstone will replace former National Farmers Federation boss Don McGauchie, effective immediately.

Telstra Corporation Ltd is an Australian telecommunications and media company, formerly owned by the Australian government.

Telstra is the largest provider of both local and long distance telephone services, mobile services, dialup, wireless, DSL and cable internet access in Australia.

Coca-Cola Hellenic Bottling net profits drop sharply

Special
Report: Global Financial Crisis

ATHENS, May 7 (Xinhua) -- Coca-Cola Hellenic Bottling on Thursday reported
a 74-percent drop in first quarter net profits to 7.0 million euros, with net
earnings per share at 0.02 euros, down 75 percent compared with the
corresponding period in 2008.

Doros Konstantinou, Coca-Cola Hellenic Bottling's Chief Executive,
commenting on the figures, said the group faced difficult trading conditions in
some of its markets, reflecting constant challenges in the global economic
environment, although he stressed that the group managed to raise its market
shares.

Konstantinou said it was difficult to predict short-term trading conditions
and noted that the group's strong capital structure, combined with new
initiatives would further enhance its competitive position.

Five more companies buy shares from melamine-scandal Sanlu Group

SHIJIAZHUANG, May 5 (Xinhua) -- Five more companies on Tuesday bought shares previously owned by the bankrupt Sanlu Group, a Chinese dairy firm at the center of last year's melamine contamination scandal.

The stakes were auctioned in Shijiazhuang, capital of the northern Hebei Province, said sources with the Jiahai Auction Co.,Ltd.

The assets at the auction Tuesday morning included Sanlu's shares in four Hebei-based companies and a Tianjin company -- the Tianjin Sanlu Ltd., Co, from which the Sanlu held 51 percent of the shares. Auction of the company's shares failed to win bids this past April as the starting prices were too high.

The auction was not open to media.

According to an unnamed auctioneer with Jiahai, most of the buyers were shareholders of these enterprises. But he didn't give details of the buyers.

Two more auctions are expected to be held on May 8 and 12, when more shares, as well as trademarks and 12 patent rights, are to be under the hammer.

Four planned auctions of Sanlu's assets have been held -- the last one being the April auction that failed to win any bids.

Sanlu Group, which was based in Shijiazhuang, had been China's leading seller of milk powder for 15 years until the melamine adulteration scandal broke in September last year. The group's revenue hit 10 billion yuan (about 1.5 billion U.S. dollars) in 2007.

The company's tainted baby milk powder was found to have caused the deaths of at least six children and sickened more than 300,000others.

Background:

From Aug. 2 to Sept. 12 in 2008, Sanlu Group produced 904 tonnes of melamine-tainted baby formula powder and sold 813 tonnes of the tainted products, making 47.5 million yuan (6.9 million U.S. dollars).

The Ministry of Health said it was likely the tainted milk scandal with Sanlu Group at its center killed at least six babies. Another 294,000 infants suffered kidney stones and other urinary problems.

Sanlu Group, partly owned by New Zealand dairy product giant Fonterra, stopped production on Sept. 12. A bankruptcy petition for Sanlu has been filed in the face of a 1.1 billion yuan debt.

On Dec. 19, the group borrowed 902 million yuan to pay the medical fees of children sickened by its melamine-tainted baby formula and to compensate the victims.

Last year, 1,173 suspects in Hebei Province were arrested over these charges,local governmentsaid.

Meanwhile, 1,244 government employees were investigated on corruption accusations.

The province's total arrests last year were put at 43,000.