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STANDARD BANK GROUP LIMITED - Appointment of non-executive director

Release Date: 31/07/2020 17:15
Code(s): SBK     PDF:  
 
Wrap Text
Appointment of non-executive director

STANDARD BANK GROUP LIMITED
Incorporated in the Republic of South Africa
Registration number 1969/017128/06
JSE and A2X Share code: SBK
Namibian Share Code: SNB
ISIN: ZAE000109815
(“Standard Bank Group” or “the Company”)


APPOINTMENT OF A NON-EXECUTIVE DIRECTOR


In compliance with section 3.59 of the Listings Requirements of the JSE Limited,
Standard Bank Group is pleased to announce the appointment of Dr Xueqing Guan as
non-executive director and joint deputy chairman of the board of directors of the
Company and non-executive director of The Standard Bank of South Africa Limited
with effect from 01 August 2020.

Dr Guan (56) holds a Doctorate degree in Economics from the Southwestern
University of Finance. He currently serves as the Board Secretary of Industrial
and Commercial Bank of China Limited (“ICBC”), a position he has held since July
2016. He joined ICBC in 1984 holding various positions including Head of Suining
Branch in Sichuan, Representative of ICBC Frankfurt Representative Office and
General Manager of Corporate Strategy and Investor Relations Department of ICBC.

Dr Guan’s appointment to Standard Bank Group is effected in terms of an agreement
between Standard Bank Group and ICBC, a 20% shareholder of Standard Bank Group,
wherein ICBC is entitled to nominate two non-executive directors for appointment
to the board, one of whom serves as a senior deputy chairman. Dr Guan replaces
Dr Hao Hu who resigned from the board on 24 February 2020.


Johannesburg
31 July 2020


Lead sponsor
The Standard Bank of South Africa Limited


Independent sponsor
JP Morgan Equities South Africa Proprietary Limited


Namibian sponsor
Simonis Storm Securities (Proprietary) Limited




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Date: 31-07-2020 05:15:00
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