Sinopec Engineering Board Approves Supervisory Committee Removal and Capital Reduction
Reuters
Nov 06
Sinopec Engineering Board Approves Supervisory Committee Removal and Capital Reduction
Sinopec Engineering Group Co. Ltd. held the ninth meeting of the 5th session of its board of directors, during which several significant resolutions were passed. The board approved amendments to the company's Articles of Association and its appendices, including the cancellation of the supervisory committee. The functions and powers of the supervisory committee will be assumed by the audit committee in accordance with new regulations. The company also resolved to set a new position for an employee representative director, refine the functions, powers, and authorizations of the general meeting and the board of directors, and reduce the registered capital. These changes aim to comply with updated laws and regulatory requirements and to enhance corporate governance.
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