Ping An Insurance has just appointed a new co-CEO whose comparatively youthful age has drawn attention within the Chinese fintech sector.
On 1 July Ping An announced the appointment of Tao Bo (姚波) to the position of co-CEO, as a replacement for Li Yuanxiang (李源祥).
Ping An trio of co-CEO’s now have an average of just 47, with Tao Bo aged 49, Xie Yonglin (谢永林) aged 51 and Chen Xinying (陈心颖) aged just 42.
Xie is responsible for Ping An’s financial operations, Chen is responsible for the group’s tech and innovation operations, while Tao is responsible for strategic planning, formulation of business targets and performance assessment.
Analyst say that the youthfulness of the executive appointments by Ping An is intended to give the group an edge when it comes to driving its fintech operations.
Ping An first established its co-CEO mechanism in 2018, and has made several adjustments to these positions over the past two years which have gradually brought in increasingly youthful executives.