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Bao Fan, the Chinese banker who disappeared a year ago, resigns from all positions at China Renaissance

MADRID, 2 Feb.

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Bao Fan, the Chinese banker who disappeared a year ago, resigns from all positions at China Renaissance

MADRID, 2 Feb. (EUROPA PRESS) -

The board of directors of China Renaissance Holdings reported this Friday the resignation "for health reasons" from all positions in the financial firm of its founder, CEO and main shareholder, billionaire Bao Fan, who mysteriously disappeared in February 2023 and which until now had only been known to be collaborating with the Chinese authorities in an investigation.

In a statement sent to the Hong Kong Stock Exchange, the investment firm announced that "Bao Fan has resigned as CEO, chairman of the board, executive director, chairman of the appointment committee, chairman of the executive committee and member of the remuneration committee with effect from February 2, 2024 for health reasons and to dedicate more time to his family matters.

In this sense, the entity has indicated that the banker has confirmed that he has no disagreement with the board of directors and that "there is no other matter related to his resignation" that should be brought to the attention of China Renaissance shareholders.

In this way, the board of directors of the firm has decided to appoint Xie Yi Jing as president of the board of China Renaissance and confirm him as CEO of the entity, a position that he had already held on an interim basis since the disappearance of Bao Fan, as well as such as appointing him president of the appointments committee, president of the executive committee and member of the remuneration committee.

On February 16, 2023, the Chinese financial firm issued a statement in which it acknowledged that it had not been able to contact Bao Fan for some time, although ten days later it announced that the banker, from whom it had not heard since mid-February, He was collaborating with authorities in an investigation.

"The board has been informed that Bao is currently cooperating in an investigation being carried out by certain authorities in the People's Republic of China," the entity reported at the time.

Keywords:
China