Chuangxin Industries Holdings Limited (Stock Code: 02788) has released details of its Nomination Committee’s Terms of Reference. The document specifies that the committee aims to identify, evaluate, and recommend potential candidates for directorship, oversee the Board’s performance assessment, and develop suitable nomination guidelines in accordance with relevant regulations and standards.

The committee must comprise a majority of independent non-executive directors who meet prescribed independence requirements. One member, who may be either the Board chairman or an independent non-executive director, will be appointed as chair of the committee. Meetings must be held at least once annually, with a quorum of two members and stipulated notices for scheduling.

Key responsibilities include reviewing the Board’s structure, size, and composition, and making recommendations for adjustments aligned with the company’s corporate strategy. The committee also establishes policies for identifying and assessing qualified director candidates, ensuring a clear nomination process and continuous evaluation of candidates’ independence. It oversees appointments, re-appointments, and succession planning for directors, especially concerning the Board chairmanship and the chief executive role.

The committee is authorized to access management and external resources when necessary and must regularly report its decisions or recommendations to the Board. Attendance and meeting records are maintained for transparency, and the committee leadership is expected to attend the annual general meeting to respond to queries regarding the committee’s functions.