Which ONE of the following was NOT a recommendation of the Cadbury Committee Report 1992?

Independent non-executive directors should be appointed to the boards of listed companies

An audit committee consisting of a majority of non-executive directors should be established to oversee the company's finances

Executive directors should not be offered service contracts for more than five years unless approved by the shareholders in a general meeting

The remuneration packages of executive directors should be agreed by a remuneration committee wholly or mainly comprising non-executive directors