Summary by Moomoo AI
AIA Group Limited announced the update of its Compensation Committee's scope of authority on August 21, 2024, with a version of 6.0. The committee is responsible for formulating and overseeing the implementation of the company's overall compensation policy, overseeing and approving stock-based compensation plans, and setting specific compensation for all directors, senior executives, key control personnel, and significant risk takers in the group. The members of the Compensation Committee are appointed by the board of directors from among the directors, and members are required to have the necessary knowledge and expertise to independently determine compensation policies and practices. The committee must hold meetings at least once a year and report all decisions and recommendations to the board of directors. In addition, the chairman of the Compensation Committee must attend the company's annual general meeting to address shareholders' questions regarding compensation matters.