The Bank of East Asia, Limited (Stock Code: 23) has published revised Terms of Reference for its Nomination Committee, detailing the committee’s constitution, membership criteria, and duties. The document specifies that the committee focuses on identifying, selecting, and recommending individuals for appointment as directors and senior management, and outlines procedures for assessing board effectiveness, reviewing Director re-appointments, and formulating succession plans.

The revised terms highlight requirements such as maintaining a majority of Independent Non-executive Directors among committee members, ensuring at least one Independent Non-executive Director is present for any committee quorum, and conducting at least one meeting annually. The committee’s duties encompass reviewing board structure, size, skill sets, and diversity considerations, as well as evaluating the performance and independence of individual Directors. The document also stipulates regular reviews of board succession, effectiveness of diversity policies, and the mechanism for providing independent views to the board. These terms will be reviewed at least annually or as necessary.