Weihai Bank plans board of supervisors dissolution, director changes

Weihai Bank Co., Ltd. has announced plans to dissolve its board of supervisors and its related committees, with the audit committee of the board of directors set to assume these responsibilities. These changes, along with proposed amendments to the articles of association, are subject to approval at a shareholders' general meeting and the National Financial Regulatory Administration Shandong Office. Current board of supervisors members will cease their roles upon the effective date.

In a related move, the bank proposes to nominate Guo Youhui and Zhou Liang as new non-executive directors. Guo, 55, is a senior political work specialist with a background in Hi-Speed Group, while Zhou, 54, is a senior accountant and chief accountant of Shandong Hi-speed Company Limited. Their appointments require approval from both shareholders and the National Financial Regulatory Administration Shandong Office.

Upon their approval, Jiao Weifeng and Kang Jian will step down as non-executive directors. Guo and Zhou will not receive directors' allowances from the bank, in accordance with the remuneration system for directors and supervisors.