Page 126 - 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
Nomination of Directors and Top Executives
Nomination of Directors
The nomination of THP directors is carried out by the THP Director Nomination and Remuneration Subcommittee, whose duty is to nominate a list of qualified persons without prohibited characteristics according to the Standard Qualifications of State Enterprise Directors and Employees Act, B.E. 2518 (1975) and amendments, and the Office of the State Enterprise Policy Committee’s letter No. Kor Khor 0824/ Wor 1137 dated 30 November 2023, regarding the appointment of state enterprise directors under the State Enterprise Governance and Administration Development Act, B.E. 2562 (2019), the nomination for appointment as a THP director was submitted for approval by the THP Board before proceeding in accordance with relevant legal and regulatory requirements.
Guidelines for the nomination of THP directors are in compliance with the announcement of the THP Board of Directors on the policies and guidelines for the nomination of THP directors on 18 March 2024. The THP Director Nomination and Remuneration Subcommittee performs duties in a transparent and fair manner, and taking into account gender equality according to human rights principles, to obtain directors with qualifications, skills, knowledge and expertise (Skill Matrix), that are important and necessary for the THP operations, consisting of finance, accounting, law, information technology, business administration, marketing, logistics, economics, risk management, human resource management and public relations. There is a complete and appropriate proportion of directors from the list of state enterprise directors of the Ministry of Finance (Director's Pool : DP) of the State Enterprise Policy Office. (SSO).
Nomination of Top Executives
As for the nomination of the Chief Executive Officer, THP has followed the procedures and guidelines for the nomination of the top executives of state enterprises in accordance with the Standard Qualifications of State Enterprise Directors and Employees Act (6th Issue), B.E. 2550 (2007), which are summarized as follows :
Appointment of Committees/ Subcommittees
1) TheChiefExecutiveOfficerNominationCommittee
is responsible for determining the nomination criteria and methods, and recruiting persons who have suitable knowledge, capability, and experience to hold the position of Chief Executive Officer, by taking into account the transparency and verifiability. When a suitable candidate to assume the position of Chief Executive Officer has been selected, the committee is to submit the name to the THP Board of Directors for further consideration. More than one suitable candidate may be nominated.
2) The Chief Executive Officer Remuneration Subcommittee is responsible for determining remuneration and negotiating the remuneration with the candidate who is nominated by THP Board of Directors to assume for the position of Chief Executive Officer according to the criteria and guidelines for remuneration of top executives, as well as considering the employment contract which must at least have requirements regarding the position holding, working conditions, removal from the position, employment contract termination terms, performance evaluation and wages or other benefits of the Chief Executive Officer. Once everything is done, the results of the negotiation with the candidate and the draft of the employment contract are to be presented to the Board of Directors for further consideration.
Nomination Procedure
1) TheChiefExecutiveOfficerNominationCommittee selects candidates who have all specified qualifications and the appropriate knowledge, skills and experience to hold the position of Chief Executive Officer.
2) TheChiefExecutiveOfficerNominationCommittee proposes a list of suitable candidate to the Board of Directors who considers and submits the name of the selected candidate to the Chief Executive Officer Remuneration Subcommittee for further action.
3) The Chief Executive Officer Remuneration Subcommittee invites the selected candidate to hold the position of the Chief Executive Officer to negotiate remuneration. If an agreement is reached, an employment contract is to be drafted according to the specifications of the Board of Directors, with the approval of the Ministry of Finance, and then presented to the authorized person. If an agreement cannot be reached, the subcommittee is to propose for the Board of Directors’ approval to restart the nomination process.
124 Thailand Post Company Limited