Financial Services Company Noah Splits CEO And Chairperson Roles: Here's Why

Chinese financial services provider Noah Holdings Limited NOAH said its Board of Directors has approved a separation of the chief executive officer and chairperson roles.

Zhe Yin, co-founder and director of the company and chairman of Gopher Asset Management Co., Ltd., has been appointed as the chief executive officer of the company, effective December 29, 2023.

He will succeed Jingbo Wang, who will remain as the chairwoman of the Board and the chairwoman of Noah's corporate governance and nominating committee.

The separation of the roles, according to the company, is to achieve better corporate governance pursuant to the Corporate Governance Code.

Yin is one of the founders of the company and has been a director since June 2007.

Yin obtained his bachelor's degree in economics from Shanghai University of Finance and Economics in Shanghai, China, in July 1997 and received his MBA degree from China Europe International Business School in Shanghai, China, in September 2010.

Price Action: NOAH shares closed higher by 1.44% at $13.37 on Thursday.

Photo via Company