Wang Junhui's appointment as a non-executive director of the eighth board of directors of China Life Insurance was opposed by 74.09% of attending H shareholders and 18.56% of attending A small and medium shareholders. Prior to this, Wang Junhui did not encounter a similar situation when serving as a non-executive director of the sixth and seventh boards of directors of China Life Insurance.
China Life Insurance held its annual shareholders meeting for 2023 yesterday. The reporter from CaiLian Press noticed that most of the H-shareholders and some small and medium-sized A-shareholders present at the meeting opposed Wang Junhui's appointment as a non-executive director of the eighth board of directors of China Life Insurance.
According to the 2023 Annual General Meeting Resolution Notice disclosed by China Life Insurance the night of June 27, among the H-shareholders present at the meeting, as high as 74.09% voted against the motion of electing Wang Junhui as a non-executive director of the eighth board of directors of the company, with only 25.27% voting in favor.
△ Screenshot from the China Life Insurance 2023 Annual Shareholders Meeting Resolution Notice Please use your Futubull account to access the feature.
However, since 99.92% of the A-shareholders present at the meeting voted in favor, the final overall voting result showed that the proportion of opposition votes was only about 8.20%, and the motion was eventually passed. Wang Junhui was successfully elected as a non-executive director of the eighth board of directors of China Life Insurance.
In addition to most of the H-shareholders, some small and medium-sized A-shareholders also expressed opposition to Wang Junhui's appointment as a non-executive director of the eighth board of directors of the company. The announcement showed that about 18.56% of the A-shareholders with less than 5% of the shares voted against Wang Junhui's appointment, while the proportion of those who voted in favor was 81.30%.
△ Screenshot from the China Life Insurance 2023 Annual Shareholders Meeting Resolution Notice
Reporters from CaiLian Press found through past records that such a high proportion of opposition votes to Wang Junhui's appointment as non-executive director had not appeared in previous votes.
Information shows that Wang Junhui has been a non-executive director of China Life Insurance since August 2019. The 2018 Annual Shareholders Meeting Resolution Notice of China Life Insurance showed that only 9.12% of the H-shareholders present at the meeting voted against Wang Junhui's appointment as a non-executive director of the sixth board of directors of China Life Insurance, and the proportion of A-shareholders with less than 5% of the shares who voted against was less than 0.04%.
In June 2021, China Life Insurance held its annual shareholders meeting for 2020, and Wang Junhui was nominated again as a non-executive director of the seventh board of directors of China Life Insurance, with the proportion of H-shareholders present at the meeting voting against being as low as 3.63%, and the proportion of A-shareholders with less than 5% of the shares who voted against being 3.73%.
However, it is worth mentioning that 87.37% of the small and medium-sized A-shareholders and 85.26% of the H-shareholders present at the meeting opposed Yuan Changqing's appointment as a non-executive director of the seventh board of directors of China Life Insurance. In the end, Yuan Changqing was still successfully elected. In June of the following year, China Life Insurance issued an announcement that Yuan Changqing resigned from the position of non-executive director of the company due to personal age reasons.
Resume shows that Wang Junhui was born in 1971, graduated from the software department of Beijing University of Technology in 1995 with a bachelor's degree, and graduated from the Department of Finance of the Finance Science Research Institute of the Ministry of Finance in 2008 with a doctoral degree in finance. She is a senior economist. Since August 2019, she has been a non-executive director of China Life Insurance. Since November 2023, she has been the chairman of China Life Insurance Retirement Insurance Co., Ltd. Since August 2016, she has been the chief investment officer of China Life Insurance (Group) Company. Since December 2016, she has been the chairman of Guoshou Anbao Fund Management Co., Ltd., and since March 2021, she has been a director of China United Network Communications Co., Ltd. From 2004 to 2023, she had successively served as assistant president, vice president, president of China Life Asset Management Co., Ltd., and president of China Life Investment Holding Co., Ltd.
On June 27, China Life Insurance held its first meeting of the eighth board of directors. The company announced in the evening of the same day that the board of directors had approved the "Proposal on the Composition of the Eighth Board of Directors Special Committees of the Company," and Wang Junhui would no longer serve as a member of the company's Risk Management and Consumer Rights Protection Committee and Strategic and Asset Liability Management Committee. She will join Independent Director Chen Jie and Independent Director Lin Zhiquan to form the Nomination and Remuneration Committee, with Chen Jie as the chairman.