Last checked at 12 Jun 2019 13:09
12 June 2019
STANDARD CHARTERED PLC (the "Company")
ANNOUNCES THE APPOINTMENT OF
AN INDEPENDENT NON-EXECUTIVE DIRECTOR TO ITS BOARD
The Board of Directors (the "Board") of Standard Chartered PLC (the "Company") today announces the appointment of Mr David Tang (aged 64) as an independent non-executive director with effect from 12 June 2019. David will also join the Company's Brand, Values and Conduct Committee.
David is based in Beijing, China and has more than 30 years of international and Chinese operational experience in the technology and venture capital industries, covering investments, sales, marketing, business development, research & development and manufacturing. David is currently the Managing Director and Partner of NGP Capital in Beijing, managing investments in a range of technology startup and emerging technology companies.
Prior to joining NGP Capital, David was the Corporate Senior Vice President and President of AMD (Advanced Micro Devices), Greater China. From 2004 to 2010, David held various positions within Nokia, including Chairman of Nokia Telecommunications Ltd and Vice Chairman of Nokia (China) Investment Co. Ltd. David has also served as Vice President of the European Union Chamber of Commerce in China, Vice Chairman of the China Association of Enterprises with Foreign Investments, and Vice Chairman of the Beijing International Chamber of Commerce.
David is a non-executive director of Kingsoft Corporation Limited, a Chinese software and Internet services company, listed on the Hong Kong Stock Exchange and a non-executive director of YY Inc. a leading live streaming social media platform in China, listed on the Nasdaq. David has a Bachelor of Science degree in Computer Science and Engineering from California State University at Long Beach and a MBA from California State University at Fullerton.
José Viñals, Group Chairman said:
"David has deep understanding and experience of emerging technologies in the context of some of our key markets, most notably mainland China. He is well respected in senior technology circles within China and maintains a global outlook. His role as partner of NGP Capital will provide a valuable and interesting perspective to the Board discussions, most significantly in relation to the emerging technology sector.
I am delighted to welcome David to Standard Chartered and look forward to his contribution in our Board and committee discussions."
Remuneration statement in relation to David Tang
The independent non-executive directors do not participate in any of the Group's incentive arrangements. David Tang will receive a fee of GBP105,000 per annum for his services as an independent non-executive director, with an additional fee of GBP30,000 per annum as a member of the Brand, Values and Conduct Committee. This is disclosed in accordance with the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited (the "Hong Kong Listing Rules").
Additional information - David Tang
David Tang has no relationship with any other Director, member of senior management or substantial or controlling shareholder of Standard Chartered PLC.
David Tang has an interest in 2,000 shares of the Company.
Save as disclosed above there is no other information to be disclosed under the requirements of UK Listing Rule 9.6.13 (1-6) and Rule 13.51(2) of the Hong Kong Listing Rules in relation to David Tang's appointment which has been notified as necessary to the regulator.
END
For further information, please contact:
Shaun Gamble - Media queries
Shaun.Gamble@sc.com +44 20 7885 5934
Notes to Editors
Standard Chartered
We are a leading international banking group, with a presence in 60 of the world's most dynamic markets, and serving clients in a further 85. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, Here for good.
Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges as well as the Bombay and National Stock Exchanges in India.
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LEI: U4LOSYZ7YG4W3S5F2G91
Classification: 3.1. Additional regulated information required to be disclosed under the laws of a Member State