China Merchants Bank announces supervisor resignations amid board changes

China Merchants Bank (HKEX:3968) announced the resignations of Mr. Xu Zhengjun, an External Supervisor and Chairman of the Supervisory Committee, and Ms. Cai Jin, an Employee Supervisor and member of the Nomination Committee, effective June 25, 2025. Mr. Xu’s resignation is due to the expiry of his six-year term, while Ms. Cai is stepping down due to age. The bank clarified that the resignations will not reduce the Board of Supervisors below quorum and that both supervisors have completed their handover duties. Contemporaneously, the Board of Directors held its thirteenth session, electing Mr. Miao Jianmin as Chairman, Ms. Shi Dai and Mr. Sun Yunfei as Vice Chairpersons. The Board also confirmed appointments to key committees, including Strategy and Sustainable Development, Nomination, Remuneration and Appraisal, Risk and Capital Management, Audit, and Related Party Transactions Management and Consumer Rights Protection. Key senior management appointments were also approved, including the President and Executive Vice Presidents.