The remuneration committee of the Group comprises three independent non-executive directors, namely Mr. Tang Yiu Wing (Chairman), Mr. Tso Hon Sai, Bosco and Ms. Hui Wai Man, Shirley. The committee was established on 7 July 2005 with specific written terms of reference.
The major roles and functions of the remuneration committee of the Company are as follows: |
- to make recommendations to the Board on the Company’s policy and structure for all remuneration of directors and senior management, and on the establishment of formal and transparent procedures for developing policy on such remuneration.
- to determine the specific remuneration packages of all executive directors and senior management and make recommendations to the Board on the remuneration of non-executive directors.
- to review and approve performance-based remuneration by reference to corporate goals and objectives resolved by the Board from time to time.
- to review and approve the compensation payable to executive directors and senior management in connection with any loss or termination of their office or appointment.
- to review and approve compensation arrangements relating to dismissal or removal of directors for misconduct.
- to ensure that no director is involved in deciding his/her own remuneration.
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