Performance Appraisal of the Board, Sub-Committees and Senior Executives

The Company conducts at least once a year self-assessment of the Board and sub-committees as a whole and on individual basis, so as to use the evaluation results as a framework to verify the Board of Directors’ performance in the past year whether it is completed and appropriate according to the scope of authorities and in accordance with the good corporate governance principle. In order that, The Company’s sub-committees comprise

  • the Audit Committee
  • the Compensation Committee
  • the Nomination Committee
  • the Executive Committee
  • the Corporate Governance Committee
  • the Risk Management Committee

Criteria

Assessment of the Board of Director uses assessment form which applies SET’s evaluation approach to suit the characteristics and structure of the Board of Directors. The results are key factors for the enhancement of directors’ performance and related duties

Self-assessment of the Board of Directors as a whole covers 6 areas, which are

  • Board structure and qualifications
  • roles, duties and responsibilities of the Board
  • the Board meeting
  • duties of director
  • relationship with management
  • director ‘s self-improvement and management training

Self-assessment of the Board of Directors on an individual basis covers 3 areas, which are

  • Board structure and qualifications
  • the Board meeting
  • roles, duties and responsibilities of the Board

Rating assigns the method of identifying each director’s opinion by ticking (/) in the score box, from 0 – 4 only 1 slot in the evaluation form absolutely disagree, or no actions taken on that matter to absolutely agree, or excellent actions on that matter. Then all the scores are evaluated by mean of calculation percentage of full score. The criteria of scores are as follows:

  • Equivalent or over 90 percent = Excellent
  • Equivalent of over 80 percent = Very Good
  • Equivalent or over 70 percent = Good
  • Equivalent of over 60 percent = Fair
  • Less that 60 percent = Need improvement

Procedures

The Company Secretary submit assessment form to each director at the end of each year. After each director completes the evaluation form, he/she shall return the evaluation form to the Company Secretary to gather and report to the Board in the next meeting in order to set standards to further improve efficiency of the Board.

Top executive assessment

The Board of Directors evaluates the performance of the Company's senior executives based on the Company's operating results, implementation of policies received from the Board of Directors underlying overall economic and social situation. The Board will use the assessment result to determine remuneration of senior executives.

Attend the courses as suggested by the Office of Securities and Exchange Commission held by the Thai Institute of Directors (IOD).

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