Bank of Communications Co., Ltd. announced amendments to its Personnel and Remuneration Committee Working Rules. The Committee, operating under the Board of Directors, focuses on regulating the Bank’s nomination and remuneration decision-making mechanisms. According to the newly revised rules, the Committee retains responsibility for reviewing Board structure, nominating candidates for director and senior management positions, determining remuneration policies, and overseeing performance reviews.

Key changes include clarifying the Committee’s composition to comprise 3–5 directors, over half of whom must be independent and include at least one member of a different gender. The independent director chairing the Committee will lead the meeting agenda, ensure comprehensive disclosure of meeting materials, and ensure clear conclusions on each resolution. The rules confirm that the Committee will conduct performance evaluations, confirm results, and make recommendations for appointments or re-appointments of directors and senior management.

The revised document strengthens communication between the Committee, other special committees, and senior management. It also emphasizes that no director or associate may decide their own remuneration. In addition, the Committee assumes the authority to approve compensation for executive directors or senior management in cases of dismissal or termination, ensuring alignment with contractual terms while remaining reasonable. Finally, the new rules outline procedures for organizational support and delineate the scope of responsibilities of the Committee’s office, covering daily operations, meeting coordination, and research support.

These revised Working Rules take effect upon approval by the Board of Directors, repealing the previous version published in August 2022 and updated versions thereafter. The changes aim to enhance the Bank’s governance structure, uphold transparent oversight, and optimize nominating and compensation processes.