China Tobacco International (HK) Company Limited (CTIHK) announced that, effective 2 July 2026, Chairman and Non-Executive Director Shao Yan has retired from all positions, including his roles as Chairman of the Nomination Committee, Chairman of the Strategic Development Committee and member of the Remuneration Committee.
The departure creates three immediate governance gaps: 1. The Chairmanship of the Board is vacant. Executive Director Dai Jiahui will act as interim chairman. 2. The Nomination Committee lacks a chair, placing the committee temporarily out of compliance with Hong Kong Listing Rule 3.27A, which requires the committee to be chaired by the Board Chairman or an Independent Non-Executive Director. 3. The Remuneration Committee’s membership falls to two, below the minimum set in its terms of reference.
CTIHK’s Board intends to appoint suitable candidates within three months and will issue further announcements when the vacancies are filled.
Shao Yan leaves after guiding CTIHK through its Main Board listing, the strengthening of corporate governance structures and expansion of business operations. The Board expressed gratitude for his contributions and confirmed that Shao has no disagreements with the Board and no matters requiring shareholder attention.
As of 2 July 2026, the Board comprises four Executive Directors—Dai Jiahui, Wang Chengrui, Xu Zengyun and Mao Zilu—and four Independent Non-Executive Directors—Chow Siu Lui, Wang Xinhua, Qian Yi and He Junhua.
Comments