[Executive News] Sinopec The first meeting of the eighth board of directors and supervisory board was successfully held, which means that the term change was completed.
According to the latest announcement of Sinopec (600028), Zhang Yuzhuo was elected as chairman of the eighth board of directors. He also serves as chairman of the Strategic Committee, chairman of the Sustainable Development Committee, and member of the Nomination Committee.
After the election of the shareholders' meeting, several new faces appeared on the board of directors, namely executive director Li Yonglin, non-executive director Zhao Dong; and independent director Bi Mingjian and Shi Dan.
Zhang Yuzhuo, born in 1962, is 59 years old; is a Ph.D. in engineering or an academician of the Chinese Academy of Engineering. Among centrally-owned listed companies, it is common for chairman to have a doctorate degree, but it is extremely rare for an academician of the Academy of Engineering to take the helm. It can be seen that Zhang Yuzhuo is also the head of an expert state-owned enterprise.
Zhang Yuzhuo has been the chairman and secretary of the Party Group of Sinopec Group since January 2020; since March 2020, he has served as the chairman of Sinopec . He has worked in coal energy enterprises, including serving as General Institute of Coal Science Research, Yanzhou Mining (Group), China Coal Technology Group , Shenhua Group , Shenhua Group , China Shenhua , and other positions.
Zhang Yuzhuo was appointed as member of the Standing Committee of the Tianjin Municipal Party Committee and Secretary of the Binhai New District Party Committee in March 2017; he served as chairman of the investment and development of China New Tianjin Eco-City since July 2017; he served as director of the China (Tianjin) Free Trade Zone Management Committee since May 2018. In 2020, Zhang Yuzhuo was transferred from a government agency to a central enterprise and became the top leader of Sinopec Group .
In the appointment of senior executives, the board of directors appoints Ma Yongsheng as president; Yu Baocai, Liu Hongbin, Ling Yiqun, Li Yonglin and Chen Ge as senior vice presidents; Yuxizhi , Zhao Rifeng, and Huang Wensheng as vice presidents; shou Donghua as financial director; shou Wensheng as secretary of the board of directors. The above-mentioned executives form an executive team, basically following the members of the previous team.
Ma Yongsheng was also born in 1962. He is different from Zhang Yuzhuo. He has been fighting in the Sinopec system for a long time. Since December 2015, he has served as deputy general manager of Sinopec Group and senior vice president of Sinopec ; since January 2017, he has served as member of the Party Leadership Group of Sinopec Group; since April 2019, he has served as director, general manager, and deputy secretary of the Party Leadership Group. Since February 2016, he has served as the director of Sinopec ; since October 2018, he has served as the president of Sinopec .
Ma Yongsheng also has a doctorate degree and is also an academician of Chinese engineering. Therefore, the chairman and general manager of Sinopec Group are both academicians and two academicians partner, so this configuration is even more rare. Ma Yongsheng is a member of the 13th National Political Consultative Conference; Zhang Yuzhuo is a member of the 19th Central Committee Alternative Committee.
In the management team, Shou Donghua was born in 1970, and the others are born in the 1960s. There is also a post-70s generation in the Supervisory Board, namely the chairman of the Supervisory Board, Zhang Shaofeng, , and . He was born in 1972. He is also the youngest among the current directors, supervisors and senior executives of Sinopec.
Zhang Shaofeng previously worked at CNPC for a long time. Since July 2017, he has served as the head of the Finance Department of China Petroleum and Natural Gas Group ( China Petroleum ); since July 2020, he has served as a member of the Party Leadership Group and Chief Accountant of China Petroleum and Chemical Corporation; since September 2020, he has served as a director of Sinopec .
From the general manager of the financial management of CNPC Group to serving as the director of Sinopec, and even taking charge of the supervisory board of Sinopec, Zhang Shaofeng has a relatively complete resume among the two major central enterprises of Petroleum and Petrochemical. He was born in 1972 and has an advantage in age, and there may be more possibilities in the future.
As of the close of May 26, the market value of Sinopec was 541.2 billion yuan, the price-to-earnings ratio was 7.7 times, the price-to-book ratio was 0.7 times, and the dividend yield was as high as 5.82%.
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