ICBC non-executive director retires, board committees reshuffled

Industrial and Commercial Bank of China Limited (ICBC) announced the retirement of Lu Yongzhen as a non-executive director, effective November 25, 2025, following the expiration of his term. He also ceased to be a member of the strategy committee, risk management committee, compensation committee, and US risk committee of the board of directors. Lu confirmed no disagreement with the board and no matters needing shareholder attention. ICBC acknowledged his diligent service and contributions to corporate governance, strategic planning, and risk management.

The bank's board comprises executive directors Liao Lin (chairman), Liu Jun (vice chairman and president), Duan Hongtao, and Wang Jingwu (senior executive vice president). Non-executive directors include Cao Liqun, Dong Yang, and Zhong Mantao. Independent non-executive directors are Norman Chan Tak Lam, Herbert Walter, Murray Horn, Chen Guanting, and Li Weiping.

Following Lu's retirement, the bank updated its board committee memberships across its eight committees: strategy, corporate social responsibility and consumer protection, audit, risk management, nomination, compensation, related party transactions control, and US risk. Liu Jun chairs the corporate social responsibility and consumer protection committee, while Liao Lin chairs the strategy committee. Li Weiping now chairs the US risk committee, and Chen Guanting chairs the audit committee.