Lufax Announces Changes of Directors and Senior Management
Lufax (NYSE: LU) announced board and senior management changes effective Feb 17–Apr 1, 2026.
Rhea-AI Summary
Lufax (NYSE: LU) announced board and senior management changes effective Feb 17–Apr 1, 2026. Yong Suk Cho will step down as CEO and executive director on March 31, 2026; Xiang Ji will become CEO and executive director effective April 1, 2026.
Two non-executive directors resign effective Feb 17, 2026, and two new non-executive directors from Ping An join effective Feb 18, 2026. The company said departing directors reported no disagreement with the board and will assist transition efforts.
Positive
- CEO succession to Xiang Ji effective April 1, 2026
- Board reinforcement with two Ping An executives effective February 18, 2026
- Departing CEO to support a structured transition
Negative
- Yong Suk Cho to resign as CEO and executive director effective March 31, 2026
- Two non-executive directors resigned effective February 17, 2026
Details
News Market Reaction – LU
In the Feb 17 session, LU gained 15.61%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
- CEO contract end date
- March 31, 2026
- Mr. Yong Suk Cho steps down as CEO and executive director
- CEO transition effective date
- April 1, 2026
- Mr. Xiang Ji becomes Chief Executive Officer and executive director
- Board resignations date
- February 17, 2026
- Mr. Xie and Ms. Fu resign as non-executive directors
- New directors effective date
- February 18, 2026
- Ms. Cai and Mr. Li appointed as non-executive directors
- Age of Ms. Cai
- 52 years
- Non-executive director with long Ping An Group experience
- Age of Mr. Li
- 52 years
- Non-executive director, general manager of Ping An Group finance department
- Age of Mr. Ji
- 43 years
- Incoming CEO with cross-industry retail credit and risk experience
- Experience of Mr. Ji
- Close to 20 years
- Cross-industry work in retail credit, risk management and investment management
Historical Context
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Shareholders approved multiple 2026 framework and collaboration agreements.
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Appointment of Xiang Ji as Co-CEO and Tao Wu as senior marketing executive.
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Company called an EGM to renew key framework agreements with Ping An Group.
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NYSE granted extension to file 2024 Form 20-F with risk of suspension and delisting.
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Resignation of Chief Risk Officer and appointment of a new CRO on same date.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Mr. Yong Suk Cho ("Mr. Cho") will step down as Chief Executive Officer and resign from his position as executive Director of the Board upon the expiration of his contract on March 31, 2026, due to family and personal considerations. The Board has appointed Mr. Xiang Ji ("Mr. Ji"), currently the Co-Chief Executive Officer of the Company, as Chief Executive Officer and as an executive Director of the Board, effective April 1, 2026. Mr. Cho will support Mr. Ji in ensuring a smooth transition and handover.
Mr. Yonglin Xie ("Mr. Xie") and Ms. Xin Fu ("Ms. Fu") will resign from their positions as non-executive Directors of the Board effective February 17, 2026. The Board has appointed Ms. Fangfang Cai ("Ms. Cai") and Mr. Peifeng Li ("Mr. Li") as new non-executive Directors, effective February 18, 2026.
Mr. Cho, Mr. Xie and Ms. Fu have each confirmed they have no disagreement with the Board and there is no matter that needs to be brought to the attention of the Shareholders. The Company extends its sincere appreciation to Mr. Cho, Mr. Xie and Mr. Fu for their significant contributions during their respective tenures. The Board would like to express its warmest welcome to Ms. Cai, Mr. Li and Mr. Ji on their respective appointment.
Ms. Fangfang Cai, aged 52, is an executive director of Ping An Group since July 2014. She joined the Ping An Group since 2007 and currently acts as non-executive director of a number of controlled subsidiaries within Ping An Group, including Ping An Life Insurance Company of
Mr. Peifeng Li, aged 52, has been the general manager of the finance department of Ping An Group since February 2023. Prior to that, Mr. Li has held various senior management positions in the Ping An Group, including the general manager of the treasury department of Ping An Group from November 2021 to February 2023, the general manager of finance department of Ping An Real Estate Co., Ltd. from April 2015 to October 2021, the general manager of finance department of Ping An Trust Co., Ltd. from May 2009 to April 2015 and the assistant to the general manager of finance department and vice general manager of finance department of Ping An Group from June 2006 to April 2009. Mr. Li obtained a master's degree in economics from Southwestern University of Finance and Economics in June 1998. Mr. Li has been a PRC certified accountant since August 1998.
Mr. Ji, aged 43, possesses close to 20 years of cross-industry work experience in retail credit, risk management and investment management. Mr. Ji has held senior management positions in several subsidiaries of the Group, including the chairman and legal representative of Ping An Rongyi (
About Lufax
Lufax is a leading financial services enabler for small business owners in China. Lufax offers financing products designed to address the needs of small business owners and others. In doing so, Lufax has established relationships with 85 financial institutions in China as funding partners, many of which have worked with Lufax for over three years.
Investor Relations Contact
Lufax Holding Ltd
Email: Investor_Relations@lu.com
ICR, LLC
Robin Yang
Tel: +1 (646) 308-0546
Email: lufax.ir@icrinc.com
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SOURCE Lufax Holding Ltd
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