Bank of Shanghai announces board changes and executive compensation

Bank of Shanghai’s board of directors held its eleventh meeting of 2025 on December 10, approving several key resolutions including a board reshuffle. The bank has proposed new executive, non-executive, and independent director candidates for election at its second extraordinary general meeting of shareholders in 2025, scheduled for December 26. This includes two executive directors, eight non-executive directors (with one reserved slot), and six independent directors. Additionally, Niu Ren has been elected as an employee director.

Further resolutions from the board meeting include revisions to the "Director Remuneration Management Measures" and related compensation policies. The board also approved the write-off of bad debts and the formulation of a board of directors' review matters list. Shareholders will have the opportunity to vote on these proposals via both on-site and online platforms.

In a separate announcement, the bank disclosed the 2024 compensation for its senior management. Key executives like Shi Hongmin, vice chairman and president, received an annual salary of CNY 1,428,600.00, along with CNY 261,900.00 in social insurance, enterprise annuity, supplementary medical insurance, and housing provident fund contributions, and CNY 939,300.00 in long-term incentives. Former senior management, including Jia Ruijun and Zhou Ning, also had their compensation for their respective tenure periods disclosed.