The Company has a proper and transparent plan to recruit personnel into important positions at all managerial levels to ensure that the Company has a professional management team. The Nomination and Remuneration Committee shall prepare position succession plan of the President of the Executive Committee, Managing Director and executives of Company in order to propose to the Board of Directors for consideration based on the resolution of the Board of Directors? Meeting No. 12/2555 held on 18 December 2012 regarding the recruitment and selection of persons to serve management positions of the Company. Therefore, the Nomination and Remuneration Committee has monitored the succession plan covering the following positions.
1.President of the Executive Committee / Managing Director
In the event that the positions of the President of the Executive Committee and the Managing Director are vacant or the individual in such positions cannot perform their duties, the Company has an arrangement whereby executives in a closely comparable level or their deputy shall act on their behalf until the selection process for the qualified replacements is completed. The criteria for such selection shall be based upon suitable qualifications as prescribed by the Company, as well as other qualities such as business vision, knowledge, proficiency, and experience, that well suit the Company?s corporate culture. The Company?s Nomination and Remuneration Committee shall be responsible for the selection process and submit their final choice to the Company?s Board of Directors for approval and further appointment.
In the event that the management positions at the level of department manager and above are vacant or the individual in such positions cannot perform their duties, the Company shalll have the selected successor of the position proposed to the Board of Directors of the Company. The succession planning of the executive position level is as follows.