Sinopec Tightens Board Governance With New Nomination Committee Charter
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China Petroleum & Chemical Corporation (Sinopec) has updated its nomination committee charter to enhance board governance. The new framework mandates that independent directors constitute a majority of the committee, with an independent chair appointed by the board. Members will be selected through a defined process and will serve concurrent terms with their directorships. This move aligns with China's Company Law and aims to strengthen oversight and governance procedures. The latest analyst rating for Sinopec's stock (HK:0386) is a Sell, with a price target of HK$4.03.
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