SASAC Dispatch Chen Xuezhong and Zhangpeng as the Group’s Outside Director
On Aug. 20, the Group’s chairman Ma Zhengwu held a meeting to introduce the new outside directors. On the meeting, deputy inspector of Bureau II of SASAC announced that SASAC appointed Chen Xuezhong and Zhang Peng as outside director and full-time outside director of China Chengtong Group respectively and introduced SASAC’s policy on establishing full-time outside director system. Former director Tao Rui and Dong Zhihua completed their terms and will no longer serve as director due to their age.
Li Huifang pointed out that as major leaders in central enterprises, Chen Xuezhong and Zhang Peng had rich experience in management of industrial enterprises and logistic enterprises. Their professional specialties could improve the board’s knowledge structure and enhance the management. She also spoke highly of Tao Rui and Dong Zhihua, saying their objective and independent views expressed to protect investor’s interest greatly contribute to the reform and development of China Chengtong Group.
She stressed that as a newly-established system, central enterprise outside director system would enable the board to be more loyal to represent investor’s interest, lead to stability and professionalization of the board. The system will enhance the core competitiveness and meet the demand of standardizing the board. She finally raised some requirements to the board.
Ma first represented the Group’s board, Party committee and leaders to extended warmest welcome to Chen Xuezhong and Zhang Peng. He also expressed sincere gratitude towards Tao Rui and Dong Zhihua for their active role on the Group’s critical decisions. Ma also cordially thanked SASAC for helping the Group with outside directors and pushing forward the Group to further development. He said the Group would further strengthen construction of the board, probe approaches to board standardization and accumulate experience on full-time outside director system construction.
Chen Xuezhong and Zhangpeng expressed their gratitude for the honor and trust given them and said will try their best to do their job contributing to a good and health development of the Group.
The Group’s board, operating members and persons in charge in board office and HR department were present at the meeting.