CCID Consulting (02176) released detailed Terms of Reference for its Remuneration Committee to refine the remuneration management system and reinforce the corporate governance framework. The document, formulated under the Company Law of the People’s Republic of China, the Listing Rules, and the Articles of Association, clarifies the Committee’s role in assessing Directors and senior management personnel and proposing remuneration policies.

The published guidelines specify that the Remuneration Committee consists of at least three Directors, with a majority being independent non-executive Directors. The Committee chairman must be an independent non-executive Director elected by more than half of the Committee members. The document outlines the body’s scope of duties, such as formulating remuneration packages, performance assessment standards, and procedures for appraising Directors and senior management. It further stipulates that remuneration proposals require Board approval and, in certain cases, shareholders’ meeting approval before implementation. The guidelines detail the Committee’s decision-making procedures, meeting protocols, and requirements for handling conflicts of interest, aiming to ensure transparent and fair practices in all remuneration-related decisions.