Page 115 - annual report AUCT 2025_Eng

Business Operation and Operating Results Corporate Governance Financial Statements Attachments
3.2) It is responsible to manage to get the accurate and complete accounting data that is
sufficient to maintain the company’s assets and to reflect the concerned points in order
to prevent the corruption or abnormal operation.
3.3) It is the confirmation that the Company follows the generally accepted accounting
standards, exercises the proper accounting policy and consistently practices it, and
uses its reasonable judgment on the financial statement preparation.
● Succession Plan
The Board of Directors assigned the Nomination & Remuneration Committee to prepare the
succession plan and criteria of the director and executive positions to prepare readiness of personnel in
the organization especially in executive positions by making a development and training plan with define
the essential leadership skills for each job position including the transfer of knowledge and skills to the
people involved. To be assured that the Company will have knowledgeable and capable leader or management
who are suitable for the company and can take important position in the future including to prevent
emergency which may impact to business operations in the case of a key job vacancy and consistent with
long-term sustainable corporate development.
The policy for succession planning applies to senior executives, supervisors at various level, and
strategic positions which have an impact to the success of the organization by setting criteria to identify
important positions, successor selection process, personnel development, monitoring and evaluation plan
clearly states. There is the successor selection process structure which consists of personnel potential evaluation,
tools for personnel potential evaluation and performance evaluation through key performance indicators.
● Orientation for New Director
The Board of Directors provides the orientation to all new directors before acting so that they
know the expectation of their roles, duties and responsibilities, the company’s policy and operational
guideline for the corporate governance. They should understand the business nature and various operational
aspects of the company. Chief Executive Officer or the person assigned by the Chief Executive Director
will provide information on orientation of new director.
In 2025, the Company has no new director.
● The Board and Executive Positions in other firms
The Board of Directors the passed the resolution regarding the board and executive positions
in other companies that they cannot take a position as a director or executive in other companies or
businesses which can cause conflict of interests with the company. In case the director or top management
has to hold position in other company which conflict of interests, an approval from the Board of Directors
must be granted first. In addition, the Company has the policy on restriction on holding of director position
where each director can hold director position not more than 5 listed companies.
In 2025, the Company has no directors who hold positions in more than 5 other listed companies.
บริิษััท สหการประมููล จำำากัด (มหาชน)
Union Auction Public Company Limited
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