Page 65 - One report AUCT2024_Eng

Part 2
Corporate Governance
Corporate Governance Policy
Overview of the Policy and Guidelines
The Board of Union Auction Public Company Limited recognizes the importance of having an efficient, transparent and verifiable management system. A good management system will help build confidence for shareholders, investors, stakeholders and all related parties.
The Board of Directors established a Good Corporate Governance Policy as a part of the Company's business ethics which reviewed by the 4/2024 Board of Directors Meeting held on 8 November 2024, by adhering to the principles according to the good practices of the Organization for Economic Co-Operation and Development (OECD Principles of Corporate Governance). This covers all 5 principles which includes the Rights of Shareholders, Equitable Treatment of Shareholders, Role of Stakeholders, Disclosure and Transparency of Information and the Responsibility of the Board of Directors. The Company also adheres to the principles of good corporate governance for listed companies 2017 (Corporate Governance Code: "CG Code") of the Securities and Exchange Commission based on 8 CG principles, details as follows;
1. Establish a Clear Leadership Role and Responsibilities of the Board: The Company reviewed the duties and responsibilities of the Board and subcommittees which includes the annual evaluation of the Board of Directors. This includes the Board of Directors’ meeting without the management, so that the non-executive directors can independently express their opinions on performance of the management and summarize matters to communicate to the management to apply with the formulation of the strategies and planning for further works.
2. Define Objectives that Promote Sustainable Value Creation: The Executive and Sustainable Development Committee set objectives from the presentation of the business operation plans and strategies of each department which is proposed to the Board of Directors.
3. Strengthen Board Effectiveness: The Nomination and Remuneration Committee is responsible for recruiting qualified persons with knowledge, abilities, and experience in various fields to be Company directors in order to strengthen the Board of Directors to develop the plan of business and organization so that it is strong and has sustainable growth.
4. Ensure Effective CEO and People Management: The Nomination and Remuneration Committee and Human Resources Department are responsible for recruiting qualified persons who are knowledgeable and experienced to be senior executives according to the succession plan as well as supervising the development and training of personnel which includes the welfare of working properly.
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บริษัท สหการประมูล จากัด (มหาชน)
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Union Auction Public Company Limited