Corporate Governance Overview
Why is this Important?
[GRI 2-17 (2021)]
EGCO Group’s businesses operate both in Thailand and overseas and are required to comply with the laws and regulations of each country. Any violation could negatively impact the Group, both in terms of physical damages and its reputation. EGCO Group is therefore committed to upholding good corporate governance principles since they are the essential foundation of business sustainability.
EGCO Group has placed importance on and has strived for business transparency and strictly and comprehensively complies with the laws, regulations, and relevant requirements, as well as Code of Best Practices of Directors of Listed Companies and Corporate Governance Code as prescribed by The Securities and Exchange Commission (SEC) and The Stock Exchange of Thailand (SET). In addition, to ensure the compliance with good governance principles, The Electricity Generating Public Company Limited’s Board of Directors (BOD) has established written Good Corporate Governance Principles and Code of Business Ethics to be practiced by its directors, managements, and employees which are made available internally and on EGCO Group’s website.
Stakeholder Impact on Material Topics
Employee
Shareholders
Supplier & Business Partner
Investors
Management Approach
Corporate Governance Framework and Structure
[GRI 2-9 (2021), 2-12 (2021), 2-13 (2021)]
The Board prescribes Good Corporate Governance Principles based on 6 pillars – P-R-E-A-C-T – as a framework for overseeing and managing EGCO Group’s
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Definition of Independent Director and its Comparison between Governance Criteria
EGCO Group’s definition of independent director is more stringent than the criteria set by The Stock Exchange of Thailand and the Notification of Capital Market Supervisory Board Re: Application for Approval and Granting of Approval for Offering of Newly Issued Shares.
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Board Diversity, Expertise and Experiences
The composition and qualifications of the Board conform to EGCO Group’s regulations and good corporate governance principles that has non-discrimination policy with regard to gender, sexual orientation, nationality, country of origin, race, ethnicity, cultural background, and disability.
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Board Effectiveness
[GRI 2-18 (2021)]
EGCO Group’s Board of Directors conducts self-assessment on an annual basis to jointly review the performance and problems that arise in the past year. Effectiveness of the operation is evaluated using self-assessment form that is verified by Nomination and Remuneration Committee
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Management Compensation
[GRI 2-19 (2021)]
Remuneration for senior management is determined by the Board of Directors. EGCO Group’s management received remuneration as monthly salary and annual bonus based on the results of EGCO Group’s key performance indicators
Explore moreRelated Documents
Policies, Requirements and Performance
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Sustainability Manual
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Good Corporate Governance Principles and Code of Business Ethics (Edition 2022)
Effective from August 1, 2022 onwards -
Charter of Board of Directors
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Diversity and Inclusion Promotion
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Management Compensation Guideline
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Management and Employee Stock Ownership Principle
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Corporate Key Performance Indicators
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Key Performance Indicators for President
Performance Data
Updated as of March 2023
The information reported above was prepared in accordance with the Global Reporting Initiative Standards (GRI Standards). It has been audited by an external party and has received limited assurance through the 2022 Annual Report.