Cosco Shipping Holdings Co., Ltd. recently announced the establishment of a compensation committee for the board of directors and has formulated relevant detailed rules. The committee is mainly responsible for formulating the compensation policies and plans for the company's directors and senior management, and submitting proposals to the board of directors. The committee is composed of three to five directors, the majority of whom must be independent non-executive directors. The committee's responsibilities include formulating compensation policies, plans, or schemes, reviewing the performance of the directors and senior management, and reviewing the implementation of the company's compensation system. In addition, the committee will also be responsible for reviewing and approving matters related to share plans described in...Show More

Cosco Shipping Holdings Co., Ltd. recently announced the establishment of a compensation committee for the board of directors and has formulated relevant detailed rules. The committee is mainly responsible for formulating the compensation policies and plans for the company's directors and senior management, and submitting proposals to the board of directors. The committee is composed of three to five directors, the majority of whom must be independent non-executive directors. The committee's responsibilities include formulating compensation policies, plans, or schemes, reviewing the performance of the directors and senior management, and reviewing the implementation of the company's compensation system. In addition, the committee will also be responsible for reviewing and approving matters related to share plans described in Chapter 17 of the Listing Rules of The Stock Exchange of Hong Kong Limited. The board of directors will review the committee's proposals and submit them to the shareholders' meeting for approval. The detailed rules have been passed by the board of directors and will take effect simultaneously with the proposed revised company bylaws (March 2024 edition).