China Telecom Proposes New Non-Executive Director Appointment

China Telecom ( (HK:0728) ) has shared an announcement.

China Telecom Corporation Limited has announced a proposed change in its board of directors, with Mr. Lyu Yongzhong being recommended to replace Mr. Chen Shengguang as a Non-Executive Director. This change is pending approval at the company’s annual general meeting in 2024. Mr. Lyu, who has held significant leadership roles in various companies, is currently the Chairman of Guangdong Rising Holdings Group Co., Ltd., a major shareholder in China Telecom. The appointment is not expected to involve any remuneration for Mr. Lyu, and a service contract will be established upon shareholder approval. This move reflects the company’s ongoing efforts to strengthen its governance and align with its strategic objectives.

More about China Telecom

China Telecom Corporation Limited is a leading telecommunications company in China, providing a wide range of services including fixed-line and mobile telephony, broadband internet, and other telecommunications services. The company is focused on expanding its market presence and enhancing its service offerings in the competitive telecommunications industry.

Technical Sentiment Signal: Strong Sell

Current Market Cap: €81.58B

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