Summary by Futu AI
On June 20, 2024, HSBC Holdings announced that its board of directors has approved the nomination and scope of authority of the Corporate Governance Committee. The committee is responsible for assisting the group chairman in ensuring the appropriateness and diversity of the board of directors and its committees, and supervising the implementation of succession plans to ensure orderly transitions of senior management personnel. The committee consists of independent non-executive directors and the group chairman, and is chaired by the group chairman or his designated representative. The committee's responsibilities include board composition and succession, senior management appointments and succession, independent assessments of serving directors, oversight of corporate governance structure, and review of relevant reports and disclosures. The committee will review its scope of authority and effectiveness annually and report its work to the board of directors.