en.Wedoany.com Reported - Anyang Iron and Steel Co., Ltd. in Henan, China, announced on May 16 that its current independent director, Guan Bingchun, will no longer serve as an independent director or as a member of the special committees under the board of directors, as his consecutive term of office is about to reach six years. After his departure, Guan Bingchun will no longer hold any position in the company.

According to the "Measures for the Administration of Independent Directors of Listed Companies" and the company's Articles of Association, an independent director's consecutive term of office shall not exceed six years. Guan Bingchun began his term in May 2020, which will expire in May 2026. Guan Bingchun does not directly or indirectly hold company shares, and there are no unfulfilled commitments that should have been performed. His departure will cause the proportion of independent directors on the board to fall below one-third; therefore, his departure will take effect after the company's shareholders' meeting elects a new independent director. Before the shareholders' meeting elects a new independent director, Guan Bingchun will continue to perform his relevant duties.

To ensure compliant and orderly work transition, upon recommendation by the company's board of directors, consent from the nominee, and qualification review and approval by the board's nomination committee, the board of directors agreed to nominate Sun Hao as a candidate for independent director of the company's 10th Board of Directors. If Sun Hao is elected as an independent director by the shareholders' meeting, the board agrees to by-elect Sun Hao to serve as the chairman of the Remuneration and Appraisal Committee, a member of the Strategy Committee, and a member of the Nomination Committee of the company's 10th Board of Directors. Sun Hao's qualification for the position has been submitted for filing as required, and his term of office shall commence from the date of election by the company's shareholders' meeting until the expiration of the current board's term.

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