Lufax Holding Ltd announced an amended and restated charter for its Nomination and Remuneration Board Committee, effective upon the company’s listing on the Hong Kong Stock Exchange. The charter sets out the Committee’s responsibilities concerning the identification of qualified Board and executive officer candidates, Board composition procedures, overall corporate governance practices, and remuneration policies.

According to the document, the Committee must consist of at least three directors, with a majority being independent non-executive directors. The chairperson must also be an independent non-executive director. The Committee will convene at least twice annually and is empowered to make recommendations on selecting and appointing directors, reviewing Board size and structure, assessing the independence of non-executive directors, and overseeing succession planning for key leadership roles.

The charter outlines corporate governance duties, including reviewing the company’s governance policies, monitoring director and senior management training, and ensuring compliance with relevant legal and regulatory requirements. It also details the Committee’s role in executive compensation, emphasizing performance evaluations, formal procedures for setting remuneration, and the need for transparent disclosures. Compensation policies for directors and senior management, as well as reviews of incentive and equity-based plans, are integral parts of the Committee’s remit.

The Committee is authorized to investigate or study any matters within its responsibilities and may retain independent advisers as needed. For compensation-related matters, the Committee oversees the appointment and supervision of any external advisers, taking into account their independence and potential conflicts of interest. The committee will regularly evaluate its performance under the charter to align with evolving governance standards and market regulatory requirements.