The board of directors of OP Financial Limited announced that with effect from 29 June 2018, Mr. Zhang Zhi Ping will step down as the Chairman of the Board and the chairman of the Nomination Committee, and will be appointed as the Honorary Chairman of the Company in recognition of his valuable contribution to the Company as the Chairman of the Board over the years. Mr. Zhang Zhi Ping will continue as an executive director and a member of the Corporate Governance after assuming the title of Honorary Chairman. Mr. Zhang Gaobo, the current Chief Executive Officer of the Company, will be appointed as the Chairman of the Board and the chairman of the Nomination Committee, with effect from 29 June 2018. Mr. Zhang Gaobo, aged 53, was appointed as an executive director and Chief Executive Officer of the Company in February 2003, and has been serving as a member of the nomination committee and corporate governance committee since January 2012. The board announced that Dr. Wu Zhong, a non-executive director of the Company, will be appointed as the Deputy Chairman of the Board with effect from 29 June 2018. Dr. Wu, aged 54, was appointed as a non-executive Director of the Company in February 2017. Dr. Wu has been the Vice-President and Director-General of Finance Center for South-South Cooperation Limited since June 2015. The Board announced that Dr. Liu Zhiwei will resign as an executive director and a member of the Corporate Committee with effect from 29 June 2018 as he desires to devote more time to social welfare activities. The board also announced the appointment of Mr. Chen Yuming and Dr. Fu Weigang as non-executive directors with effect from 29 June 2018. Dr. Fu, aged 40, is currently the executive president of the Sifl Institute. Dr. Fu has served in the Sifl Institute since 2003 in various positions including Assistant President and Vice President. Mr. Chen has more than 30 years of experience in banking, securities, fund management and auditing. He is currently Chairman of Shenzhen Leaguer Financial Holdings Company Limited, Chairman of Shanghai Leaguer Financial Leasing Co. Ltd., and Assistant to Dean of Shen Zhen Research Institute of Tsinghua University. The Board also announced that with effect from 29 June 2018, the composition of the Board committees will be changed as follows: Audit Committee - Mr. Kwong Che Keung, Gordon (Chairman), Mr. Wang Xiaojun, Prof. He Jia; Remuneration Committee - Mr. Wang Xiaojun (Chairman), Mr. Kwong Che Keung, Gordon, Prof. He Jia; Nomination Committee - Mr. Zhang Gaobo (Chairman), Mr. Kwong Che Keung, Gordon, Mr. Wang Xiaojun, Prof. He Jia; Corporate Governance Committee - Prof. He Jia (Chairman), Mr. Zhang Zhi Ping, Mr. Zhang Gaobo, Mr. Kwong Che Keung, Gordon and Mr. Wang Xiaojun.