BEIJING, Aug. 2, 2022
/PRNewswire/ -- China Life Insurance Company Limited (the
"Company") (NYSE: LFC; SSE: 601628; HKSE: 2628) announced today
that due to the adjustment of work arrangements, Mr. Su Hengxuan
tendered his resignation as the President, an Executive Director
and a member of the Strategy and Assets and Liabilities Management
Committee of the Company on August 1,
2022, which took effect on the same day. Mr. Su Hengxuan has
confirmed that he has no disagreement with the board of directors
(the "Board") of the Company and there are no other matters
relating to his resignation that need to be brought to the
attention of the shareholders of the Company. The Company would
like to express its gratitude to Mr. Su Hengxuan for his
contribution to the Company during his tenure of service.
The Company further announced that at the fifteenth meeting of
the seventh session of the Board of the Company held on
August 2, 2022, Mr. Zhao Peng was appointed as the President of the
Company and nominated as an Executive Director of the seventh
session of the Board of the Company. The proposal in relation to
the election of Mr. Zhao Peng as an
Executive Director of the Company will be submitted to the
shareholders' general meeting of the Company for consideration and
approval, and his qualifications as the President and Executive
Director of the Company are subject to the approval of the China
Banking and Insurance Regulatory Commission (the "CBIRC").
The Board has appointed Mr. Zhao
Peng as the person temporarily in charge of the Company
before the approval on the qualification of Mr. Zhao Peng as the President of the Company is
obtained. His term of office as the President and Executive
Director of the Company will commence from the date of approval by
the CBIRC, and his term of office as the Executive Director of the
Company will end on the expiry of the term of the seventh session
of the Board. He is eligible for re-election upon expiry of
his term of office as the Executive Director.
The biographical details of Mr. Zhao
Peng are set out below:
Mr. Zhao Peng, born in
April 1972, is a member of the Party
Committee of China Life Insurance (Group) Company ("CLIC") and the
Secretary to the Party Committee of the Company. From 2020 to 2022,
he served as the Vice President of the Agricultural Development
Bank of China. From 2017 to 2020, he successively served as
an Assistant to the President and a Vice President of the Company,
the Chief Financial Officer of CLIC and an Executive Director of
the Company. From 2019 to 2021, he also served as a
Non-executive Director of Sino-Ocean Group Holding Limited and a
Director of China Life Franklin Asset Management Company Limited.
From 2009 to 2017, he successively served as the General Manager of
the Finance and Accounting Department and the General Manager of
the Finance Department of CLIC, the Deputy General Manager (at the
general manager level of the provincial branches), the person in
charge and the General Manager of Zhejiang Branch of the Company. Mr.
Zhao Peng graduated from
Hunan College of Finance and
Economics, Central University of Finance and Economics and Tsinghua
University, with master's degrees in economics and business
administration.
View original
content:https://www.prnewswire.com/news-releases/china-life-insurance-company-limited---change-of-president-301597839.html
SOURCE China Life