China Merchants Bank Co announced on Tuesday that former chairman Qin Xiao has retired from his position and Fu Yuning was appointed new chairman of the bank according to the board's decision, the National Business Daily reported Tuesday.
Fu Yuning, new chairman of China Merchants Bank Co appointed on Sept 28, 2010. [Photo/People.com.cn]
iPad comes to ChinaFu's appointment is now awaiting China Banking Regulatory Commission's approval, the report said.
Qin, 63, has a PhD in economics from Cambridge University and is a member of the Eleventh National Committee of the Chinese People's Political Consultative Conference. He has served as chairman of China Merchants Bank Co since 2001.
Fu, born in March 1957, obtained his PhD in Offshore Engineering from Brunel University, UK. He currently serves as chairman of China Merchants Group, China Merchants Holdings (International) Co, China Merchants Energy Shipping Co, China International Marine Containers (Group), China Merchants Shekou Industrial Zone Co, China Nanshan Development (Group) Inc, and director of China Merchants Bank,
