Xiamen Yan Palace Bird’s Nest Industry Co., Ltd. (Stock Code: 1497) has released a document outlining the responsibilities and operational framework of its Nomination Committee. According to the announcement, the committee oversees selecting and recommending candidates for directorship and senior management, ensuring balanced board composition and strengthening corporate governance.

The committee must comprise at least three directors, the majority of whom are independent non-executive directors, and must include at least one member of a different gender. The chairman of the committee shall either be the chairman of the board or an independent non-executive director. Key duties include assessing candidates’ qualifications and independence, advising on appointments and re-appointments, and formulating board succession plans.

The document also sets forth meeting procedures, including a requirement to convene at least once per year. Decisions must be approved by more than half of the committee members, with recommendations subsequently reported to the board of directors. The process for selecting candidates involves communication with relevant departments, wide-ranging searches within and outside the company, and the collection of comprehensive candidate information, ensuring adherence to established criteria and procedures. The board delivers final approvals based on the committee's recommendations.