Summary by Moomoo AI
MTR updated the terms of reference of its Board Committees and Advisory Groups in May 2024 and detailed rules on the composition and responsibilities of the Nomination Committee. According to the update, the Nominating Committee shall consist of at least five non-executive directors, including the Chairman of the Company, non-executive directors representing the Government, and the majority of which are independent non-executive directors. The Nominating Committee's primary duties include evaluating the structure and diversity policies of the Board, locating and evaluating potential director candidates, and making recommendations on the appointment or reappointment of directors. In addition, the Committee is responsible for assessing the independence of independent non-executive directors and recommending the selection of the Chief Executive Officer, Chief Financial Officer and Chief Operating Officer. The minutes of the meeting will record all decision-making processes in detail and be made available to all committee members within a reasonable time. In case of discrepancies in the Chinese-English version of this document, the English version shall prevail.