Succession planning for board members and key management personnel
I. Succession Plan and Operation of Board Members
(i) The election of the Company’s directors is conducted in accordance with the nomination system of the candidates as stipulated in the Articles of Association and the Corporate Governance Code.
The "Regulations Governing the Election of Directors" stipulate that the composition of the board of directors should consider diversity, and should take into account the company's own operations and management.
Based on operational models and development needs, a diversified policy should be formulated, including but not limited to basic conditions and values (gender, age).
Age, nationality, and culture, etc.), professional knowledge and skills (such as legal, accounting, industrial, financial, marketing, or technological background).
The standards are based on two main aspects: background, professional skills or industry experience.
(ii) Board members should generally possess the knowledge, skills, and qualities necessary to perform their duties, and their overall capabilities should be [in accordance with these requirements].
The forces are as follows:
Operational judgment ability.
Accounting and financial analysis skills.
Business management capabilities.
Crisis management capabilities.
Industry knowledge.
International market perspective.
Leadership skills.
Decision-making ability.
(III) Currently, there are 7 directors (including 3 independent directors), each with expertise in business, legal, financial accounting, or industrial management.
Their rich experience and expertise.
(iv) Regarding the succession plan of the Board of Directors, two of the current Board members are qualified to succeed the original directors from within the management team.
The directors are selected based on their management and professional capabilities, and will continue to be provided with various opportunities in accordance with the plan.
Yes, it will allow qualified personnel to understand and participate in the operation of the board of directors or functional committees, thereby fostering iterative development.
There will be no board vacancies in the future. As for independent directors, they must, by law, have a business, legal, financial, accounting, or corporate firm.
The required work experience is readily available domestically, therefore, succession planning for independent directors may come from academia and...
The industry sector aims to ensure that the composition of the board of directors aligns with the company's board diversity policy.
(v) The Company has also stipulated the "Board Performance Evaluation Method," which uses performance evaluation metrics, including those related to the Company's performance.
Understanding of objectives and tasks, awareness of director responsibilities, level of involvement in company operations, and management and communication of internal relationships.
The board of directors' professional and continuing education, internal controls, etc., are used to ensure the effective operation of the board of directors through evaluation.
The performance of directors will serve as a reference for their future nomination and reappointment.
II. Succession Planning and Operation of Key Management Teams
(i) The General Manager, Deputy General Managers, Assistant General Managers, and those at equivalent levels constitute the key management team, responsible for the organization's internal...
For related business operations, each management level has a designated agent.
(ii) To cultivate key management personnel, senior managers will be arranged to participate in further education to continuously enrich their knowledge and prepare them for succession.
The professional knowledge and qualities of senior managers. Furthermore, to ensure senior managers understand the company's operations, the company will appropriately arrange for them to participate in...
Regular internal key management meetings and project assignment management methods are used to familiarize them with the operational status of each unit.
Moreover, it increases management experience.
(III) In August 2015, our company hired external lecturers to conduct a "Senior Management Consensus Camp" to cultivate key management personnel.
To enhance leadership and build team consensus, we need to improve our ability to respond to and solve problems in the energy industry from both internal and external shocks.
(iv) The company conducts employee performance appraisals every six months to understand areas for improvement and individual development needs through performance evaluation.
In accordance with the company's expectations, the assessment results will serve as a reference for reserving outstanding talents and planning succession.