CITIC Limited Half-Year Report 2020

135 Half-Year Report 2020 CITIC Limited Board Composition and Changes On 30 March 2020, Mr Chang Zhenming resigned as chairman of the board and executive director, chairman of the nomination committee, chairman of the strategic committee and chairman of the executive committee of CITIC Limited. On the same day, Mr Zhu Hexin was appointed as chairman of the board and executive director, chairman of the nomination committee, chairman of the strategic committee and chairman of the executive committee of CITIC Limited. On 25 August 2020, Mr Wang Jiong resigned as an executive director, vice chairman and president, a member of the nomination committee, a member of the strategic committee, vice chairman of the executive committee and chairman of the strategy and investment management committee of CITIC Limited; and Ms Yan Shuqin resigned as a non-executive director, a member of the nomination committee and a member of the strategic committee of CITIC Limited. On the same day, Mr Xi Guohua was appointed as an executive director, vice chairman and president, a member of the nomination committee, a member of the strategic committee, vice chairman of the executive committee and chairman of the strategy and investment management committee of CITIC Limited; and Ms Yu Yang was appointed as a non-executive director, a member of the nomination committee and a member of the strategic committee of CITIC Limited. Board Committees Currently the board has the following committees to discharge its functions: • Audit and Risk Management Committee oversees the relationship with the external auditor, and reviews CITIC Limited’s financial reporting, annual audit and interim report. The committee acts on behalf of the board in providing oversight of CITIC Limited’s financial reporting system, risk management and internal control systems, reviews and monitors the effectiveness of the internal audit function, and reviews CITIC Limited’s policies and practices on corporate governance. The committee consists of three independent non-executive directors, Mr Francis Siu Wai Keung (who serves as the chairman of the committee), Dr Xu Jinwu and Mr Anthony Francis Neoh, and two non-executive directors, Mr Yang Xiaoping and Mr Peng Yanxiang. • Nomination Committee reviews the structure, size, composition and diversity of the board at least annually and makes recommendations on any proposed changes to the board; identifies and nominates qualified candidates to become board members and/or fills casual vacancies for the approval of the board; assesses the independence of independent non-executive directors, makes recommendations to the board on the appointment or re-appointment of directors and succession planning for directors; and reviews the board diversity policy and the director nomination policy on an annual basis. The committee is chaired by Mr Zhu Hexin, the chairman of the board, and other members include an executive director, Mr Xi Guohua (being vice chairman and president of CITIC Limited), a non-executive director, Ms Yu Yang, and four independent non-executive directors, Mr Francis Siu Wai Keung, Dr Xu Jinwu, Mr Anthony Francis Neoh and Mr Gregory Lynn Curl.