China's dairy product giant, Mengniu Dairy Group, will choose its new president through global open recruitment by the end of this month, company sources said Thursday.

Three rounds of assessment have narrowed the candidacy pool to four people, said Zhang Wen, human resources manager of the company.

The assessment was judged by a specialist panel led by Dr. Shi Kan, who has the experience of working in the national program on the selection of the country's taikonauts.

The privately-owned dairy producer based in the Inner Mongolia Autonomous Region, north China, was established by farmer-turned entrepreneur Niu Gensheng in 1997. Niu, who still chairs the company's board, gave up the company presidency last September when the company launched the global recruitment program to look for elite business talents.

A total of 64 candidates, including 4 staff members of the company, signed up for the recruitment program.

"We invite experts outside the company to select the new president in order to make sure the process is conducted in accordance with international standards," said Zhang.

Mengniu Dairy Group, which provides more than 100 varieties of milk products, reported 7.21 billion yuan (US$900 million) in sales revenue last year, ranking the second place in China's dairy industry.

(Xinhua News Agency January 12, 2006)