Summary by Moomoo AI
The Industrial and Commercial Bank of China Limited (the “Industrial and Commercial Bank”) announced on 29 April 2024 that the Board of Directors has decided to appoint Mr. Zhang Morichuan as Deputy Chairman. Mr. Cheung Morichuan's appointment was approved by the Board of Directors and remains pending approval by the State Administration of Financial Supervision. Mr. Zhang Morichuan has held several senior positions at the Bank of China with extensive risk management experience and served as the Shanghai branch manager in 2021. He graduated from the People's University of China with a doctorate in economics. The Compensation of Deputy Directors and other senior management personnel will be implemented in accordance with the relevant regulations and approved by the Board's Remuneration Committee and Board of Directors review, ICBC said. In addition, Mr. Zhang Morichuan does not have an interest in the directors, supervisors, other senior managers, major shareholders or controlling shareholders of ICBC and does not hold any shares in the Commercial Bank.