GAC Group proposes board overhaul ahead of 2025 meeting

Guangzhou Automobile Group (SSE:601238) is set to revamp its board of directors at its Second Extraordinary General Meeting of Shareholders in March 2025. The company's sixth board has proposed a list of nominees for the seventh board, consisting of 11 members. Key nominations include re-nominating current Chairman Feng Xingya as an executive director. The proposal also includes the nomination of four non-executive directors: Chen Xiaomu, Zhou Kaiquan, Wang Yiwei, and Hong Suli. Current independent directors Zhao Fuquan, Xiao Shengfang, Wang Keqin, and Song Tiebo, have been re-nominated. These candidates' diverse backgrounds in engineering, law, finance, and strategic management will provide a broad range of perspectives for the company. The board shakeup comes as GAC Group prepares to participate in the 15th National Games and the 12th National Paralympic Games, seeking to leverage the event for brand promotion.