Page 82 - PSTC - One Report 2023 (EN)

Annual Report 2023 (Form 56-1 ONE REPORT)
81
1.9 RemunerationoftheBoardofDirectors,theChiefExecutiveOfficerandHighRankingExecutives
The Company specified a fair and reasonable director remuneration policy with consideration given to suitability and consistency with performance, directors’ scope of duties and responsibilities, the Company’s financial status and practices of other companies of similar sizes in the same industry. Remuneration was specified in the form of meeting gratuities and incentives and proposed to the meeting of the Board of Directors and/or Shareholders’ Meetings.
The Chief Executive Officer’s remuneration was considered from qualifications, duties and responsibilities in addition to comparisons with remuneration paid by other companies in the same industry and the stock exchange including the business’ performance and size in order to build motivation for the Company’s development continually.
Remuneration for executives follows principles and policies prescribed by the Company and will be linked to the Company’s performance and each executive’s performance. Remuneration for executives is at a level intended to motivate executives and retain quality executives according to the Company’s needs.
1.10 DirectorDevelopment
The Company supports directors to receive training and improve knowledge continually, particularly in courses organized by outside organizations such as the Stock Exchange of Thailand and the Thai Institute of Directors. The Company holds orientation for every new company director with a position in the Company to create knowledge and understanding of the Company’s business and operations.
1.11 Succession Plan
To enable business operations to continue, the Board of Directors considered and prepared a succession plan for positions, particularly executive positions.
2) SpecificationsConcerningtheNumberofListedCompaniesinWhichCompanyDirectorsMayHoldDirector Positions
The Board of Directors has a policy to limit holdings of director positions in other listed companies by directors at no more than five companies to ensure that directors are able to sufficiently dedicate time to perform duties in the Company. In addition, the Company has a system for reporting holdings of other positions by directors and disclosing such information for general knowledge.
3) GovernanceofSubsidiaries’andAssociates’Performance
To comply with governance mechanisms, enable control, management and responsibility for performance of subsidiaries and associates along with maintaining the interests of the Company’s investments, the Board of Directors sends the Company’s representatives to be directors of subsidiaries and associates according to shareholding ratios by following the Company’s regulations with approval from the Board of Directors’ meetings.
6.1.2 Policies and Guidelines Concerning Shareholders and Stakeholders
In 2023, the Company carried out the following activities concerning compliance with corporate governance principles: