Nomination Committee: Theory, Current Situation And Reconstruction

As the further development of corporate governance, the forepassed nomination mechanism which holding stockholders directly appointe the directors and high-level managers or general managers control the persons selected has not adapted to the current demand of developing corporate governance. Thus, in order to keep directors' appointment away from the holding stockholders' and insiders' influences and to prevent the directorate to become a club which is only for the sake of interest dealing, more and more people pay attention to the directiors' nomination and appointment. Therefore, in order to make the company leaders' selection more standardization, optimize the directorate composition and to perfect the company governance structure, many companies of the world have set up the nomination committees in their directorate. As one of the professional committees which are ordinarily set up in the directorate, the nomination committee mainly takes charge of establishing the selection criterion and process, suggesting the suitable candidates, ensuring the nominated candidates to enter into the new directorate and evaluating the work of directors, chief executive officers and other high-level managers in order to decide their qualification. The existence of nomination committee could make independent directors exert a profound influence on the corporate governance to the most extent and maintain the directorate's independence.The theory guides the practice. In order to make corporate governance structure more perfect, first of all, we should do a good job of the theoretical research to the professional committees of directorate. On the basis of the existent practices of nomination committee of listed companies in our country, this thesis attempted to make the theoretical framework of nomination committee's function mechanism of listed companies further detailed and substantial in order that it would be more effective, through using the beneficial experience of other countries such as U.S.A...