Management Compensation

Remuneration for the senior management is specified by the Board of Directors. EGCO Group’s management received remuneration as monthly salaries and annual bonuses based on the achievement of EGCO Group’s key performance indicators.

The remuneration is also based upon individual performance concerning financial performance indicators (e.g. return on assets (ROA), return on equity (ROE), return on invested capital (ROIC), and cost of debt) and non-financial performance indicators as approved by the Board (e.g. present values of the projects, new projects approved by the Investment Committee, increases in electricity generation capacities, renewable energy generation, innovation projects, and the score of annual corporate governance assessment of Thai listed companies). Additionally, EGCO Group conducts a performance assessment based on financial key performance indicators, comparing with the President’s remuneration to ensure a competitiveness of remuneration structure of the company.