Sinopec Tightens Governance Over Executive Pay and Incentive Schemes
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Sinopec has updated its Board Remuneration and Appraisal Committee's terms, enhancing governance over executive pay and incentives. The changes align with Chinese law and corporate governance codes, emphasizing independent directors' roles and defining responsibilities for performance appraisals and remuneration policies. The committee will also oversee stock incentive plans and employee stock ownership arrangements. Currently, analysts rate Sinopec's stock (HK:0386) as a Sell, with a price target of HK$4.03.
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