Succession planning for members of the Board of Directors and key management
Succession planning for members of the Board of Directors and key management
Succession planning of the board of directors and key management of Yulong Company
Board succession plan:
The Company's Board of Directors spans from 40 to 70 years old. In the future, it will uphold the concept of sustainable operation and professional division of labor, introduce internal and external diversified backgrounds, experience and expertise, talents with management ability and leadership decision-making ability when the board of directors is elected or the board of directors is vacant, understand and participate in the operation of the board of directors or relevant functional committees. and nurture the next generation of board members.
Key Management Succession Plans:
The successor to the Company's key management must meet the following conditions:
(1) Have high moral character and ethics, have a grateful heart, and agree with the company's business philosophy.
(2) Have professional ability, general knowledge ability, and management integration ability.
(3) Have an international outlook, be able to accommodate dissenting views, and prioritize decision-making considerations to maximize the interests of the organization.
The succession plan for key management of the Company is planned and implemented by the General Manager's Office and Human Resources Unit, and is regularly reported to the Board of Directors.
The specific steps of succession planning are:
(1) Identify the competencies and conditions required for the current position;
(2) Establish a succession talent pool from which potential successor candidates will be selected;
(3) To formulate relevant incubation plans for each candidate according to the planning schedule, and implement and regularly evaluate the effectiveness accordingly.
Succession planning for board members and key management:
1. Succession planning and operation of board members
More than half of the current Board members are elected from internal management or former functional committee members, and will continue to provide different opportunities according to the plan in the future, so that qualified personnel can understand and participate in the operation of the board or functional committee, so as to iteratively cultivate future board members.
Each year, the Board participates in internal and external training courses on topics of interest to the year. It also sets out the performance management operation methods of the Board to ensure the effective operation of the Board through performance evaluation projects, and serves as a reference for future selection of Directors.
Second, the succession planning and operation of important management
In 2022, through functional evaluation, identify the competencies and conditions required for the current position, and launch a three-year blueprint plan for the cultivation of management functions in combination with the strategic goals of the company and the department, so as to enhance the leadership, strategy and forward-looking of the management team; A total of 8 management function cultivation courses were held throughout the year, with 251 participants and a total of 47.5 learning hours. In addition, 6 key senior executives were trained to participate in the three-month, 73.5-hour "Transnational Local Management Elite Class" training to cultivate international operation talents in transnational governance, crisis management, and international operation and problem-solving capabilities, so as to integrate with the strategic layout of sustainable management.
