Western Securities announces board and governance overhaul

Western Securities announced resolutions from its supervisory board and board of directors meetings, signaling substantial changes to its governance structure. The company's supervisory board passed a resolution to revise its Articles of Association and cancel the supervisory board, transferring its responsibilities to the board's audit committee. This change aims to align with new Company Law provisions.

Concurrently, the board of directors approved the revision of several key governance documents, including the Articles of Association, Shareholder Meeting Rules, Board Meeting Rules, Independent Director System, and Related Party Transaction Management System. These revisions, which reflect regulatory updates, will be submitted for shareholder approval.

Furthermore, the board proposed a new slate of 11 directors for the seventh session of the board, comprising 7 non-independent directors and 4 independent directors. This includes the election of Mr. He Jun as an employee director and the appointment of Ms. Xu Zhaohui, Mr. Jia Xu, Ms. Liu Ying, Mr. He Fei, Mr. Zhu Xiaofeng, and Mr. Jiang Jiazhi as non-independent directors, alongside Mr. Zhang Bojiang, Mr. Yi Ke, Mr. Huang Bin, and Mr. Ma Xufei as independent directors, all pending shareholder approval.