The company confirmed that internal teams will manage financial duties on an interim basis to maintain operational continuity. Beyond the finance chief’s exit, board members Fangfang Cai, Shibang Guo, and Peifeng Li have also vacated their positions. Lufax stated that all four departures stem from personal work arrangements, with each individual confirming no underlying disagreements with the board or undisclosed matters requiring shareholder attention.
In section Market Quotes
Lufax CFO Resigns Amid Boardroom Shake-up
Tongzhuan Xi has stepped down as chief financial officer of Lufax, triggering a leadership search at the Chinese small-business lender. The surprise departure coincides with the resignation of three non-executive directors, marking a significant transition for the company’s governance structure as it pivots to stabilize its internal financial oversight.
To fill the leadership gap, the firm appointed 65-year-old Wai Kin Chim to the board for a three-year term starting July 25. Chim brings over 40 years of international banking expertise to the role, with a specific focus on risk management, corporate governance, and capital strategy. His appointment marks a strategic effort by the company to bolster its internal controls as it navigates this period of executive turnover.
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