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5.6 Remuneration for Directors and Executives
1. Remuneration for the directors is fixed based on the level of remuneration of companies in the same industry as well as experiences, scope of work and responsibilities of each committee. The remuneration shall be considered appropriately at the fixed rate.
2. Remuneration including remuneration in terms of salary, bonus and other incentives for the Chief Executive Director and executive directors shall be in line with the criteria approved by the shareholders’ meeting.
3. TheNominationandRemunerationCommitteeshalldeterminetheremunerationandevaluatetheperformance of the directors, the executive directors and the Chief Executive Director before proposing to the Board of Directors and/or the shareholders’ meeting for consideration.
4. The Chief Executive Officer shall considered and reviewed the remuneration for the executives and employees at least once a year based on the Company’s performance as well as performance, years of employment and capability of employees. The result of consideration shall be submitted to the Nomination and Remuneration Committee, the Executive Committee and Board of Directors for consideration.
5.7 Professional Development for Directors, Executives and Employees
1. The Company encourages the directors, executives and Company Secretary to attend seminars and training programs hosted by the Thai Institute of Directors, SET, SEC, and the National Corporate Governance Committee or other sectors as the knowledge gained from the seminars will beneficial and can help improve their performances. Basically, the directors must attend all development programs as required by SET and SEC.
In 2016, Mr. Kriengsak Thiennukul, Independent Director, Member of the Audit Committee, and Member of Nomination and Remuneration Committee finished the National Defence Course (TNDC Diploma), Class 58/2015-2016 from Thai National Defence College.
2. The Company shall provide orientation for new directors together with all relevant documents and necessary information that benefits their duties, such as the Director’s Handbook, annual registration statements (Form 56-1), annual reports (Form 56-2), minutes of the Board of Directors’ and shareholders’ meetings and the Corporate Governance Policy, Business Code of Conduct, Code of Conduct for Directors, Information pertaining to business operation and management, financial report, and director training courses shall be also provided in order to enhance knowledge and understanding on their performances as director, which will efficiently improve the business operation.
3. The Company shall arrange executives and employees to rotate their tasks as appropriate, based on their abilities, work assignment and timing. The Chief Executive Officer shall determine the duration of their assignment and evaluate their performances in preparation of the development and succession plans. This shall increase the capabilities of the executives and employees and enable them take over each other’s position as required.
Committees
The Company’s management structure consists of Board of Directors, Audit Committee, Executive Commit- tee, Nomination and Remuneration Committee and Risk Management Committee. All directors and executives of
Annual Report 2016
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