Board Effectiveness
[GRI 2-18 (2021)]
EGCO Group’s Board of Directors’ performance assessment is conducted on an annual basis to review the achievement and address any issues arising during the previous year. The effectiveness of the operation is evaluated using the self-assessment form verified by the Nomination and Remuneration Committee and approved by the BOD. The self-assessment forms for the BOD and sub-committees are revised every year. BOD’s assessment form is designed for evaluating the performance at both the group and individual levels, as well as cross-assessment, which comprehensively covers all aspects of BOD’s roles and responsibilities, and aligns with EGCO Groups’ environment, morality, and business ethics. The self-assessment form for the sub-committee is reviewed and updated to be in line with the roles and responsibilities prescribed in the sub-committee charters.
In 2024, the Board of Directors assessed their performance using various evaluation methods, including group assessment, individual assessment, and cross-assessment, to ensure alignment with good corporate governance principles at both national and international levels. Each section of the form is scored as a percentage of the full score. All director’s assessment forms are submitted to the corporate secretary department for comprehensive analysis. The results are further utilized for improving the performance of the BOD in the subsequent year. In addition, the independent assessment is set to take place every 3 years. In 2023, EGCO Group appointed EY Corporate Advisory Services Co., Ltd. to conduct independent assessment of board performance)