Page 124 - Thailand Post Annual Report 2024

Part 1
Overview of the Organization
Part 2
Business Trends
Part 3
Business Model
Part 4
Strategies and Resource Allocation
Part 5
Risk
Part 6
Corporate Governance
Part 7
Operating Results
Part 8
Other Information
Structure and Responsibility of THP Board of Directors
Structure of THP Board of Directors
THP Board of Directors is appointed by the Ministry of Finance, the Company’s sole shareholder, by recruiting experts in various fields with specific knowledge that is beneficial for THP from the list of state enterprise directors of the Ministry of Finance (Director's Pool : DP). All potential appointees have appropriate qualifications and do not exhibit any prohibited attributes according to the Standard Qualifications of State Enterprise Directors and Employees Act B.E. 2518 (1975), as well as have no interest conflict or no stake in THP’s business. The Board consists of members not less than 5 but not more than 11 persons, who do not have to be THP’s shareholders. At least one-third of the Board members must be external independent members. In each appointment of the Board, all members’ resumes are disclosed on THP website (www.thailandpost.co.th).
Duties and Responsibilities of THP Board of Directors
THP Board of Directors recognizes its responsibility as
directors and thus separates clearly its roles, duties and responsibilities from those of the THP Executives. The key roles, duties and responsibilities of the Board are as follows :
• Perform duties with responsibility, care, and integrity;
• Establish criteria for the selection and appointment of directors in accordance with the State Enterprise Governance and Administration Development Act, B.E. 2562 (2019) and supervise THP to strictly comply with these criteria;
• Determine vision, goals, values, strategic plans, operational policies and important plans of THP;
• Supervise the management to be responsible for their work under the determined policies and take action to achieve the missions, objectives and goals of THP. In this regard, THP Board of Directors should not interfere the decision making and administration of the management;
• Supervise THP to formulate policies and practices for reporting operational performance in accordance with the policies and the good governance principles to state shareholders;
• Supervise THP to treat all stakeholders fairly and promote participation of stakeholders in developing THP’s operation;
• Supervise THP in setting policies and operational plans by taking account of sustainability, social and environmental responsibility, and good governance, as well as integrating innovation to enhance work processes, services, and efficient management.
• Supervise THP to disclose significant financial and non-financial information correctly, reliably, completely, sufficiently, in a timely manner and in accordance with the relevant laws and regulations
• Supervise THP to define clear ethical practices and the directors should strictly comply with them, serving as role models for executives and operators.
• Supervise THP to establish policies, criteria, or guidelines for governing subsidiaries or joint ventures.
122 Thailand Post Company Limited