China Renaissance's Bao Fan has resigned as executive director, the chairman of the board, the chief executive officer (CEO), the chairman of the nomination committee, the chairman of the executive committee and member of the remuneration committee with effect from February 2, 2024, according to an announcement from the company's board of directors.
The reason was cited as “health reasons” and to spend more time on his family affairs, according to a Hong Kong Stock Exchange (HKEX) filing on the same day.
Bao said that he has no disagreement with the board and there is no other matter relating to his resignation that needs to be brought to the attention of the shareholders of the company.
The board expressed gratitude for Bao Fan’s efforts and said that under his “vision and leadership, the company has grown and expanded, overcome many challenges and achieved significant milestones along the way”, the statement said.
The board said that, with effect from February 2, Xie Yi Jing has been appointed as the chairman of the board and was re-designated from acting CEO to CEO. On the same date, he was also appointed as the chairman of the nomination committee, the chairman of the executive committee and member of the remuneration committee.
The move comes after after he disappeared for unspecified reasons following a probe by the Chinese authorities.
