BAIC Leadership Shake-up: Wang Hao Steps Down as Chairman, Zhang Guofu Nominated Successor

On March 20, BAIC Motor Corporation Limited announced via the Hong Kong Stock Exchange that Wang Hao has stepped down as Chairman, Executive Director, and from multiple board committee positions due to a job transfer. Zhu Yan and Sun Li have also concurrently resigned from their respective roles. These changes will take effect from the date the appointments of new directors are approved. The company’s board has nominated Zhang Guofu as a Non-executive Director and recommended his appointment as Chairman, subject to shareholder approval. Additionally, Zheng Mingying has been nominated as an Executive Director, and Zhou Jianyu as a Non-executive Director. The terms of all newly appointed directors will run until the expiration of the current (Fifth) Board of Directors’ term.