Annual Report 2021

Corporate Governance Report 38 CHINA MERCHANTS PORT HOLDINGS COMPANY LIMITED (ii) Mr. Wang Xiufeng as Executive Director and Managing Director of the Company to fill the vacancy caused by resignation of Mr. Bai Jingtao on 26 August 2021; (iii) Mr. Deng Weidong as Executive Director of the Company to fill the vacancy caused by resignation of Mr. Xiong Xianliang on 28 October 2021; (iv) Redesignation of Mr. Wang Xiufeng from Managing Director to the Vice Chairman of the Board and the Chief Executive Officer of the Company on 3 November 2021; (v) Mr. Yim Kong as Executive Director and Managing Director of the Company on 3 November 2021; (vi) Mr. Tu Xiaoping as the Chief Financial Officer of the Company on 3 November 2021; and (vii) Mr. Zhang Yiming as Deputy General Manager of the Company on 3 November 2021. A Board Diversity Policy was adopted in August 2013. In designing the Board’s composition, board diversity has been considered from a number of aspects, including but not limited to gender, age, cultural and educational background, ethnicity, professional experience, skills, knowledge and length of service. All Board appointments will be based on meritocracy, and candidates will be considered against objective criteria, having due regard for the benefits of diversity on the Board. The Nomination Committee developed measurable objectives to implement the Board Diversity Policy, where selection of candidates will be based on a range of diversity perspectives as set out above, and the ultimate decision will be based on merit and contribution that the selected candidates will bring to the Board. In light of the amendments made to the Corporate Governance Code (effective on 1 January 2019), the Board has further adopted a nomination policy (the “ Nomination Policy ”), on 17 December 2018. Nomination Criteria The Nomination Committee shall consider the following criteria in evaluating and selecting candidates for directorship: ‧ Character and integrity; ‧ Qualifications including professional qualifications, skills, knowledge and experience that are relevant to the Company’s business and corporate strategy; ‧ Willingness to devote adequate time to discharge duties as a member of the Board; ‧ Board Diversity Policy and any measurable objectives adopted for achieving diversity on the Board; ‧ Requirement for the Board to have Independent Non- executive Directors in accordance with the Listing Rules and whether the candidates would be considered independent with reference to the independence guidelines set out in the Listing Rules; ‧ Such other perspectives appropriate to the Company’s business or as suggested by the Board. Nomination Process The Nomination Committee reviews the structure, size and composition (including the skills, knowledge and experience) of the Board periodically and make recommendation on any proposed changes to the Board to complement the Company’s corporate strategy. When it is necessary to fill a casual vacancy or appoint an additional director, the Nomination Committee identifies or selects candidates as recommended to the Committee, with or without assistance from external agencies or the Company. If the process yields one or more desirable candidates, the Nomination Committee shall rank them by order of preference based on the needs of the Company and reference check of each candidate (where applicable). The Nomination Committee makes recommendation to the Board including the terms and conditions of the appointment. The Board deliberates and decides on the appointment based upon the recommendation of the Nomination Committee.