Bank of Communications Co. Ltd. said Niu Ximing resigned from his role as board chairman and executive director, effective Feb. 1.
Niu also left his position as chairman of the board's strategy committee.
Peng Chun replaces Niu for the roles of board chairman and chairman of the strategy committee. His appointment is subject to the approval of the China Banking Regulatory Commission.
Peng, who has served as president of Bank of Communications since 2013, vacated his current position as vice chairman of the board, effective the same day. He will continue to perform the president's duties until a successor is found.
