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Mindray Medical names Cheng as its co-CEO

NEW YORK (AP) -- Mindray Medical International Ltd. has appointed co-founder Cheng Minghe as co-CEO.

The medical device maker said Wednesday that Cheng will also continue in his role as chief strategic officer.

Cheng will share CEO responsibilities with Li Xiting, who will now be co-CEO and keep his position of president.

Mindray also named May Li as chief investment officer and Wang Jianxin as chief administrative officer. Li previously served as deputy CFO, while Wang was vice president.

All appointments are effective immediately.

Mindray's global headquarters are in Shenzhen, China. Its U.S. headquarters are in Mahwah, N.J.