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CITIC Securities director resigns; replacement named

Chen Zhong stepped down as a nonexecutive director from CITIC Securities Co. Ltd.'s board, due to other work arrangements.

The company nominated Kuang Tao a nonexecutive director to replace Chen. Kuang's appointment is subject to shareholder and regulatory approval.

Chen's resignation will take effect upon approval of Kuang's appointment, the company said March 22.