The Executive Committee has the scope of duties and responsibilities as follows;
(1) Have authorities, duties and responsibilities as assigned or in accordance with the policy which is assigned by the Board of Directors.
(2) Consider and set up policies, business strategies, goals, proceeding plans, financial targets and company’s budgets appropriately based on business factors to propose and ask for approvals from the Board of Directors as well as conduct, examine and follow business operations of the company as specified efficiently and effectively.
(3) Set up the Succession Plan for the possession of important high-level executive positions or eligible individuals to be designed for high-level executive positions as well as regularly revise the said plan.
(4) Specify the annual criteria to evaluate performances of Chief Executive Officer, Deputy Chief Executive Officer, Chief Financial Officer and high-level Executives accordance with duties, responsibilities and risks which may occur.
(5) Consider to appoint Senior Manager level to Director level as proposed by Chief Executive Officer.
(6) Consider the annual increment and bonus for employees as proposed by Chief Executive Officer; then, report to the Nomination and Remuneration Committee for acknowledgement.
(7) Specify the organization structure and company’s management policy including policies related to recruitment, training, employment and discharge for the company’s employees, which Chief Executive Officer or Human Resources Director of the company is authorized to sign the employment contract on behalf of the company.
(8) Consider and offer proposals or opinions to the Board of Directors about projects, proposals or any transactions concerning the company’s business operations which costs more than the limited financial amount and/or which the related laws and principles or company’s regulations mandate the Shareholders Meeting or the Board of Directors to approve.
(9) Authorize Chief Executive Officer to process the company’s management in accordance with authorities, duties, and responsibilities which are specified in Authorization Manual under the conduction of the Executive Board.
(10) Consider and approve Authorization Manual in order that appointed individuals and/or authorized individuals could acknowledge their responsibilities and authorities and use the said manual as the operating manual which demonstrates credential evidences and systematic procedures.
(11) Review and endorse general purchases excluding raw materials procurement which cost above Baht 10 Million as approved by Chief Executive Officer and/or Bidding Committee.
(12) Study the feasibility of new project investments and has the authority to consider and approve the company to invest or venture business with individuals, legal entities or organizations of any businesses or approve to establish subsidiary company which the Executive Board considers as properly in order to process in accordance with the company’s objectives as well as consider and approve budget for the said investments, commit juristic contracts, increment capital subsidiary company and/or process accordingly to the said matters until the completion which cost up to 100 Million.
(13) Consider and approve the financial transactions with financial institutes related to account opening, loan, credit, pawn, mortgage, guarantee and any matters including buying, selling and any land proprietary registrations in accordance with the company’s objectives for benefits of the Company’s performances including the juristic contract commitments, application / proposal submissions, contacts and juristic commitments with governmental sections in order to achieve any privileges of the company and/or any proceedings related to the said matters until the completion which cost up to Baht 200 Million.
(14) Consider and approve loans between the Company and subsidiary company in amount not over than Baht 200 Million.
(15) Specify trading conditions such as credit limit, payment period, sales agreement, alteration of trading conditions and etc.
(16) Apart from the abovementioned authorities, duties and responsibilities accordingly referred to the Authorization Manual of the company.
The above authorities, duties and responsibilities are subject to the criterion of laws and concerned principles including the company’s regulations. In case that the proceeding or any transactions cause or may cause the conflict of interests and/or deal with related transection/person in accordance with the concerned laws and principles or company’s regulations which mandate the Shareholders Meeting or Board of Directors to approve, the Executive Board has to propose opinions and submit the said matters to Board of Directors to consider and process in accordance with the concerned laws and principles or the company’s regulations.