Ping An Insurance has announced the appointment of Michael Guo Xiaotao as the Group’s new Co-CEO, following Jessica Tan’s resignation from the same position for personal and family reasons.
Ping An said Tan will continue to work at Ping An until December 31st 2023 and beyond will continue to serve as a company Director.
Tan joined Ping An in 2013 and held positions including Group Chief Information Officer, Chief Operating Officer, and Deputy CEO before being promoted to Executive Vice President and Co-Chief Executive Officer in 2018.
The Shenzhen-headquartered insurer credited Tan for her contribution during her ten-year tenure at the business, saying she was intimately involved in the company’s successes, including the transformation of Ping An from an integrated financial services to a “Finance + Technology” company, driving the business’s life reforms and healthcare ecosystem development, and vigorously championing their “4 channels + 3 products” strategy.
The business also recognised her achievements during her time at the insurer, which included her receiving the Chinese Government Friendship Award in 2019, being featured in Forbes’ 2019 ranking of the “World’s 100 Most Powerful Women”, and being ranked second globally in Fortune’s “Most Powerful Women International”.
In a statement, Jessica Tan cited personal and family reasons for her decision to resign, saying ” Leaving Ping An has been a tough decision to make. My family is based in Singapore, and I have been working overseas for a long time. I felt it was the right time to make some adjustments to my future work and living arrangements.”
Xiaotao to step up
Xiaotao, who takes up the position of Co-CEO with immediate effect, was the Chief Human Resources Officer of the Group. He originally joined Ping An from Boston Consulting Group in September 2019 as Executive Vice President of P&C Insurance.
Ping An said Xiaotao “has extensive experience in strategic transformation and upgrading of large-scale financial and healthcare groups, digital operation and reform, and technology innovation.”
The insurer added that he had demonstrated excellent strategic acumen and strong strategic planning and execution skills, crediting him for driving digital transformation in the group’s P&C business and change in the group’s human resources management reform.
In his new role, Xiaotao will lead the execution of Ping An’s “healthcare and elderlycare” strategies and continue to drive the group’s “integrated finance + healthcare” plan.
Ping An concurrently announced that Sun Jianping, Chairman of Ping An Property & Casualty Insurance, will succeed Xiaotao as the Group’s Chief Human Resources Officer.
The outgoing Tan voiced her belief in the future success of the Group, commenting, “Ping An has grown into a strong institution with a deep talent bench and visionary people development programs, and there are many talented and professional colleagues taking the company forward. I believe Ping An, under the leadership of Chairman Ma Mingzhe, will have a bright future ahead.”
Chairman Ma Mingzhe farewelled Tan, saying, “I would like to thank Jessica for her years of commitment and contributions to Ping An. She is a friend of Ping An.”
