Succession Planning for CEO and Senior Executives
The Board of Directors has established a succession plan covering the positions of Chief Executive Officer (CEO) and senior executives to ensure that the company has knowledgeable and capable executives who can succeed in key positions in the future. The Board has assigned the Corporate Governance and Nomination Committee to oversee the development of succession plan and development plans for senior executives (from the department head level and above) to prepare individuals with potential to succeed positions in cases where senior executives (from the department head level and above) retire, resign, or are unable to perform their duties.
In developing the succession plan, the Corporate Governance and Nomination Committee will work with the Chief Executive Officer (CEO) to establish selection criteria based on skills, knowledge, capabilities, leadership, necessary experience beneficial to business operations, and alignment with the company’s strategic plans.
The Corporate Governance and Nomination Committee will monitor the progress of the succession plan covering the positions of Chief Executive Officer (CEO) and senior executives by inviting the CEO to report such plans to the Corporate Governance and Nomination Committee regularly and report to the Board of Directors at least once a year.
In 2024, the Corporate Governance and Nomination Committee received progress reports on the succession plan a total of 5 times and reported the succession plan to the Board of Directors twice. The Board of Directors resolved to appoint Mr. Sinon Vongkusolkit as Chief Executive Officer (CEO) to replace Mrs. Somruedee Chaimongkol, effective April 2, 2024 (after the 2024 Annual General Meeting of Shareholders).
Development Guidelines for Key Position Successors
The company recognizes the importance of continuous human resource planning and management to support stable business growth. In 2024, developing the potential of successors for senior executive positions was carried out through various programs such as the Banpu Global Leader Program (BGLP), Individual Coaching, and Individual Development Program (IDP).