Bank of Jiujiang (6190) has announced revisions to the Terms of Reference of its Nomination and Remuneration Committee under the Board of Directors. The revisions aim to optimize the composition of the Board, establish standardized processes for selecting directors and senior management, and set up robust systems for performance assessment and remuneration management.

According to the updated provisions, the Committee comprises at least three directors, a majority of whom are independent. The Committee’s remit includes regulating procedures and standards for the appointment of directors and senior management, reviewing and suggesting compensation policies, developing remuneration plans for directors and senior executives, and overseeing performance evaluation systems. The updated Terms specify that compensation and removal arrangements must adhere to relevant laws, contractual terms, and fairness standards. The Board retains final approval authority, and shareholder approval is required for the remuneration of directors.

Committee meetings will occur at least twice a year, with rules on quorum, voting mechanisms, and documentation. The new Terms of Reference take effect upon approval by the Board of Directors, with previous guidelines abolished concurrently. Future amendments will conform to any additional legal requirements, regulatory rules, or changes to the Bank’s Articles of Association.