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China's Board Secretary Regulation Takes Effect; Nearly 1,000 Listed Companies Start Restructuring on May 24

GateNews

2026-05-24 23:31:29

According to China Securities Journal, on May 24, China's newly enacted Board Secretary Supervision Rules officially came into effect. The rules prohibit board secretaries from serving concurrently as chief financial officer or general manager, with a transition period until end of 2027. Currently, over 800 A-share listed companies have board secretaries also serving as CFO, while over 100 companies have them also serving as general manager, meaning nearly 1,000 companies must complete personnel adjustments. In recent weeks, more than 30 companies have announced board secretary resignations, with approximately 30 others temporarily reassigning the role to board chairs.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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