Independent Director Regulations
Independence refers to directors who have no other position inside Ping An other than being on the board of directors, and does not have any conflict of interest with the company or controlling shareholders of the company. Independent director election and selection process is strictly regulated with clear guidance through shareholder meetings. At least one third of the board members must be independent according to the regulation. Independent directors should conduct their duties with due diligence, independence, and in good faith to protect the interests of the company, insurers, and shareholders. Independent directors should not be affected by principle shareholders, controlling parties, management team, or other parties that may pose severe conflict of interests to Ping An. They should be able to form objective, fair, and independent opinions. The supervisory board will conduct regular ratings and reviews for to performance improvement and tenure management.