Axera Semiconductor (600) has released the Terms of Reference for its Nomination Committee. According to the document, the Nomination Committee serves as a specialized working body under the Board of Directors to regulate and make recommendations on the selection procedures, criteria, and candidates for both directors and senior management. It is composed of at least three directors, with a majority being independent non-executive directors and at least one director of a different gender.

The duties of the Nomination Committee include formulating and maintaining board diversity policies, reviewing the qualifications of potential candidates, and ensuring alignment with relevant laws and regulatory requirements. The committee also evaluates the independence of independent non-executive directors, taking into consideration the number of directorships held in other listed issuers. Recommendations made by the Nomination Committee are submitted to the Board for review, with meeting procedures and record-keeping clearly outlined in the document.

The Terms of Reference specify that the committee should meet at least once a year, with additional meetings convened as necessary. Any vacancies in membership must be filled within three months in accordance with the prescribed rules. The newly published guidelines also highlight the Nomination Committee’s role in supporting the Board by communicating with relevant departments within the company and appointing external professional services when needed. These measures are aimed at enhancing transparency and efficacy in board composition and the leadership appointment process.