Baic Motor (1958) announced on Sunday that Chen Wei tendered his resignation as the chairman, a non-executive Director and the chairman of the strategy and sustainability committee and the nomination committee due to work adjustment.
The resignation will take effect upon the approval of the new chairman’s appointment by the shareholders, the company wrote in a filing with the stock exchange.
Chen confirmed that he had no disagreement with the board in any respect, and there were no other matters relating to his resignation that would need to be brought to the attention of the shareholders.
The board held a meeting last Friday to propose the appointment of Wang Hao as a non-executive director, with the term starting from the date of approval at the shareholders’ general meeting.
STAFF REPORTER