BAIC Motor Announces Board Changes: Mercedes-Benz Executive Tolga Oktay Nominated as Non-Executive Director, Replacing Kevin Walter Binder

Bulletin Express05-21 19:25

BAIC Motor Corporation Limited (BAIC Motor) disclosed on 21 May 2026 that non-executive director Kevin Walter Binder will leave the board following a work-related reassignment. Binder confirmed no disagreements with the board and no matters requiring shareholder attention. The company expressed formal appreciation for his contributions.

The board has proposed the appointment of Tolga Oktay, currently Chief Financial Officer of Mercedes-Benz Group China Ltd., as a non-executive director. Subject to shareholder approval, Oktay’s term will run through the remainder of the fifth board session. According to the filing, Oktay will not receive remuneration for the directorship; a service contract will be executed once the appointment is confirmed.

Oktay, born August 1972 and holding an MBA, brings more than 25 years of international finance and mobility-sector management experience. His prior roles include: • Chief Financial Officer and Chief Operating Officer, Mercedes-Benz Financial Services (Turkey) • Head of Europe Controlling, Daimler Financial Services AG • Chief Executive Officer, Mercedes-Benz Auto Finance Ltd. • Chief Financial Officer and Management Board Member, Mercedes-Benz Mobility AG

The nominee has no shareholdings in BAIC Motor, no related-party ties with directors, senior management, or substantial shareholders, and no disclosures are required under Listing Rules 13.51(2)(h)–(v).

A circular and notice of the forthcoming shareholders’ meeting to vote on Oktay’s appointment will be distributed in due course.

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