Summary by Futu AI
AIA Group Limited released an update to the authority of its Remuneration Committee on August 21, 2024, with a version of 6.0. The committee is responsible for formulating and overseeing the implementation of the company's overall compensation policy, monitoring and approving share-based compensation plans, and establishing specific compensation for all directors, senior executives, control personnel, and group significant risk takers. Members of the Remuneration Committee are appointed by the Board of Directors from among the directors, and are required to have the necessary knowledge and expertise to independently determine compensation policies and practices. The committee must hold at least one meeting annually and report all decisions and recommendations to the Board of Directors. In addition, the Chairman of the Remuneration Committee must attend the company's annual general meeting to respond to shareholders' queries about compensation matters.