Air China nominates board directors, sets EGM for February 25

HONG KONG - Air China (OTC:AIRYY) Limited has finalized its slate of board director nominees for the upcoming seventh session of its board, with an extraordinary general meeting (EGM) scheduled for February 25, 2025, to consider their election. The airline announced the proposed appointments and detailed the candidates’ backgrounds, emphasizing their diverse expertise and contributions to the board’s diversity.

The nominated candidates include Mr. Ma Chongxian and Mr. Wang Mingyuan for executive directors, Mr. Cui Xiaofeng and Mr. Patrick Healy for non-executive directors, and Mr. Xu Niansha, Mr. He Yun, Ms. Winnie Tam Wan-chi, and Mr. Gao Chunlei for independent non-executive directors. Notably, the executive and non-executive directors will not receive remuneration, while the pay for independent non-executive directors will align with national policies.

The board resolved on January 27, 2025, that the proposed directors’ term would be three years, subject to shareholder approval, and they would be eligible for re-election afterward. The EGM will also address the directors’ remuneration proposal.

Upon the effective election of the independent non-executive directors at the EGM, Mr. Xu Junxin will step down from his current role. Shareholders listed on the company’s register by February 19, 2025, will be eligible to vote at the EGM.

The company’s announcement also clarified that the nominees have no relationships with current directors, senior management, substantial shareholders, or controlling shareholders of the company, nor hold shares in the company as defined under Part XV of the Securities and Futures Ordinance. Furthermore, none of the nominees held directorships in other public listed companies in the last three years, except as disclosed.

This news is based on a press release statement and provides shareholders and stakeholders with essential information regarding the upcoming EGM and the proposed changes to Air China’s board of directors.

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