Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 428

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 428
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 in respect ofprogramme updates.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |

Committee performance review In 2024 the annual review of the effectiveness of the Board committees, including the GTOC, was conducted externally by IBE. On the basis of the review, directors concluded that the GTOC was operating effectively. Positive feedback was noted on the leadership of the GTOC Chair, the quality of information received, and the responsiveness of management in relation to the topics of focus during 2024. The review highlighted the importance of continued connectivity between the Board Committees, in particular the GTOC and GRC given the overlap of issues within their respective remits. Further details of the annual review of the Board and Committee performance can be found on pages 287 to 288 . Focus of future activities The GTOC ’ s focus for 2025 will include the following activities: – Oversight and review of the Group's global operations strategy, including payments, procurement, corporate real estate and operational resilience; – continued oversight and review of the Group’s technology strategy, cybersecurity strategy and related matters; – continued oversight of key transformation programmes, with a particular focus on accountability; – continued focus on data remediation activities and management’s articulation of its data strategy, and the monitoring of progress to execute; – continued focus on the resilience of services; and – continued consideration of technology innovation initiatives and how these might be leveraged in support of the Group strategy.

| HSBC Holdings plcAnnual Report on Form 20-F | 309 |

Directors’ remuneration report

|                                                                                                                                                                                                                 |                                                                                                                                                                      | “Our new remuneration policy will support the delivery of our strategy and materiallystrengthen the alignment between performance, pay and shareholder interests.“ |                           |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| Dame Carolyn FairbairnChairGroup Remuneration Committee                                                                                                                                                         |                                                                                                                                                                      |                                                                                                                                                                    |                           |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|                                                                                                                                                                                                                 | Membership1                                                                                                                                                          |                                                                                                                                                                    |                           |     | Key responsibilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|                                                                                                                                                                                                                 |                                                                                                                                                                      | Membersince                                                                                                                                                        | Meeting attendancein 2024 |     | The Committee’s key responsibilities include:–making recommendations to the Board, for approval byshareholders, on the Group’s remuneration policy;–setting the overarching principles, parameters and governanceframework of the Group’s remuneration policy;–approving the remuneration of executive Directors and other seniorGroup employees; and–regularly reviewing the effectiveness of the rem