(Mr. Chansak Chuenchom) Chairman of the Nomination and Remuneration Committee The process to establish compensation for the CEO and President is conducted in a credible manner that is acceptable to all stakeholders. The Committee defines performance evaluation criteria that are clear and precise, considering factors such as past compensation, industry benchmarks for CEOs, qualifications and experience of the CEO and President, and the scope of their responsibilities. The compensation is designed to be fair, appropriate, and provides incentives for optimal performance. 5. Senior Executive Succession, Planning Succession planning for senior management positions is crucial for the seamless transition of the workforce within an organization. The Committee is tasked with identifying senior executives at the N-1 level, poised to lead the company in achieving future corporate objectives and goals. In 2023, the Committee thoroughly vetted candidates and nominated a senior executive at the N-1 level for promotion. This individual is prepared to succeed one of the top executives due to retire in the near future. 6. Self-evaluation of the Nomination and Remuneration Committee Adhering to corporate governance principles, the Committee approaches its self-evaluation duty with utmost seriousness. In addition to the annual self-evaluation, independent consultants conduct a comprehensive performance assessment of the Committee once every three years. These regular and consistent evaluations foster accountability and serve as motivation for continual improvement by the Committee, responsible for ensuring transparency and delivering maximum value to the company and shareholders. As per the self-assessment results, the Nomination and Remuneration Committee achieved an Excellence rating, scoring 98.83 percent. In summary, in 2023, the Nomination and Remuneration Committee prioritized human resource strategies, emphasizing the development of a cadre of high-caliber executives with diverse capabilities. This approach aims to enhance readiness in steering corporate strategies and goals into the future, aligning with sustainable development principles and the ESG operational framework. The Committee reiterates its commitment to executing duties with transparency and utmost efficiency, ensuring fairness and prioritizing the best interests of both the company and shareholders. This commitment is geared towards fostering the sustainable growth of IRPC Public Company Limited in the years to come. 59 56-1 ONE REPORT 2023 Message from the Chairman of the Nomination and Remuneration Committee
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