Bank of East Asia adds 3 years to CEO's term

David Li’s contract to expire on 31 March 2015.

Bank of East Asia Ltd. said Thursday it extended Chief Executive David Li's service contract by three years.

Under the new terms, Li's contract will expire on March 31, 2015, extended from March 2012, the bank said.

The bank said in a statement its nomination committee has reviewed the extension and its board of directors approved it, according to a report in Fox Business.