Proposed amendment to Listing Rules to strengthen corporate governance and board diversity

At a glance

• The Stock Exchange of Hong Kong has published a consultation paper on 14 June 2024 for proposed amendments to the Corporate Governance Code and related Listing Rules.
• The changes are aimed at strengthening board diversity and inclusion in Hong Kong’s listed companies.  
• Key proposed changes include, but are not limited to: composition of nomination committee of issuers to have at least one director of a different gender; mandatory requirement of conducting an annual review of the implementation of the board diversity policy; and separate disclosure of the gender ratio in respect of the company’s workforce (excluding senior management) and its senior management.
• The proposed effective date of the changes under this proposal is 1 January 2025.