China Life has officially appointed Yang Mingsheng to succeed Yuan Li as its new chairman and executive director.
It came after China Life announced Yuan Li had tendered his resignation as the chairman and executive director of the company due to “reallocation to other job duties”.
China Life also said Shi Guoqing and Zhuang Zuojin have resigned their non-executive director roles due to their “age”
The announcement, made during the AGM of China Life, comes after Life Insurance International reported in March 2012 media reports that Yang had been appointed chairman of the provider.
Mingsheng has many years of experience in the financial industry. He acted as vice chairman of China Insurance Regulatory Commission from 2007 to 2012, and worked for Agricultural Bank of China from 1980 to 2007, where he held various positions including vice president of Shenyang branch, head of industrial credit department and president of Tianjin branch.
He was appointed as vice president of Agricultural Bank of China in 1997 and was then promoted to president of Agricultural Bank of China in 2003.
Mingsheng is a senior economist and graduated from the Faculty of Finance of Nankai University majoring in monetary banking with a master’s degree in economics.