China: GSI Announces Management Changes

The 21st meeting of the seventh term of the board of directors (the Board) of Guangzhou Shipyard International Company Limited (GSI) was held on Monday, 9 September 2013 by way of written resolutions. All the nine directors attended the voting.

The written resolutions were passed in relation to the election of the vice-chairman of the Board, Mr. Han Guangde, as the chairman of the seventh term of the Board. Pursuant to the Implementation Rules and Regulations of the Strategy Committee of the Board, Mr. Han Guangde was appointed the chairman of the Strategy Committee. All of the above came into effect from 9 September 2013.

In addition, the recommendation of the seventh term of the nomination committee that Mr. Chen Zhongqian be the candidate for the non-executive director of the seventh term of the Board was approved and the same be submitted for consideration and approval at the shareholders’ meeting. If the election of Mr. Chen as the non-executive director is approved, Mr. Chen will be a member of the seventh term of the nomination committee.

Mr. Chen Zhongqian is aged 50 and is a senior engineer of professional level. Mr. Chen graduated from the Wuhan University of Water Transportation Engineering College in July 1983 and he joined Guangzhou Wenchong Shipbuilding Factory Company Limited in the same year.

Currently, Mr. Chen is the chairman and secretary of the Chinese Communist Party of CSSC Guangzhou Huangpu Shipbuilding Company Limited and the chairman of Guangzhou Wenchong Shipbuilding Factory Company Limited.

What is more, the recommendation of the seventh term of the nomination committee that Mr. Zhou Dusheng be re-designated as an executive director and be appointed as the general manager of the Company was approved as well.

The above re-designation and appointment in respect of Mr. Zhou Dusheng came into effect on 9 September 2013.

Mr. Zhou Dusheng is aged 57 and is a senior engineer. Prior to Mr. Zhou’s re-designation as an executive director, he has been a non-executive director of the Company since 8 June 2012.

The appointment of Mr. Chen Liping as a member of the Strategy Committee should he be elected as the Company’s executive director was approved.

Moreover, the appointment of Mr. Yang Li as a member of the seventh term of the Remuneration and Appraisal Committee was approved. Mr. Yang Li’s appointment as a member of the Remuneration and Appraisal Committee came into effect on 9 September 2013.

[mappress]
Press Release, September 9, 2013