The Nomination Committee is responsible for formulating nomination policy, and making recommendations to the Board on nomination, appointment and re-appointment of Directors and Board succession. The Nomination Committee develops selection procedures of candidates for nomination, reviews the size, structure and composition of the Board, as well as assesses the independence of the Independent Non-Executive Directors. The Nomination Committee is provided with sufficient resources to perform its duties and, where necessary, it can seek independent professional advice at the expense of the Company to perform its responsibilities. The specific terms of reference of the Nomination Committee are posted on the websites of the Company and Hong Kong Exchanges and Clearing Limited respectively.
The nomination policy of the Company (the “Nomination Policy”) sets out the criteria and procedures for the selection, appointment and re-appointment of the Directors. Nomination procedures under the Nomination Policy include identification and nomination of qualified individuals by the Nomination Committee, and review and approval of such nominations by the Board. The Nomination Committee will consider and evaluate the potential candidates by considering various factors such as their professional expertise, industry and business experience, personal ethics and integrity, time commitments, potential contribution to board diversity, any material conflict of interest with the Group, and independence with reference to the independence guidelines set out in Rule 3.13 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited if they will be appointed as Independent Non-Executive Directors. The Nomination Committee will then make recommendation of the suitable candidates to the Board for consideration of appointment. In cases of re-appointment of existing Directors who will retire at annual general meetings or general meetings of the Company, the Nomination Committee will review the rotation and retirement of Directors and make recommendations to the Board accordingly.
The Nomination Committee currently comprises four members, all of them being Non-Executive Directors with the majority of them being Independent Non-Executive Directors.
- Li On-kwok, Victor (Committee Chairman)
- Cheung Wing-yui
- King Yeo-chi, Ambrose
- Wong Kai-man