SAIC Motor revamps board, announces share buyback, and revamps governance

SAIC Motor Corp (SSE:600104) is undertaking a comprehensive restructuring, initiating changes to its board, governance, and capital structure. The company's board will undergo a reshuffle, with a new slate of directors to be elected at the upcoming annual general meeting in June 2025. Independent director candidate, Sun Zheng, has publicly declared his independence and qualifications for the role. He affirmed his commitment to fulfilling his duties without influence from major shareholders or related entities.