Ratchaburi Electricity Generating Holding PCL.
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5.8 Performance Appraisal
•
Directors’ Self-Assessment
The Board of Directors has implemented
self-assessment measures since 2002. The appraisal
result, observation and recommendations are
considered for the Board of Directors’ further
improvement. The factors considered include
the performance of the entire Board of Directors
and individual self-assessment. The assessment
covers many important area according to the good
corporate governance principle for listed companies,
including directors’ readiness, strategy formulation
and business planning, riskmanagement and internal
control, conflict of interest prevention, financial
and performance report monitoring, the Board of
Directors’ meeting and nomination of the Board of
Directors and the Management.
The Company introduced self-assessment
of every Committee for the first time in 2013. The
assessment covers the overall performance of each
Committee in terms of committee’s readiness,
completeness of duty as assigned by the Board of
Directors, and the committee’smeetings in 3 phases :
before the meeting (provision of meeting document
prior to the meeting date to provide sufficient
time for the committee members to study the
information), during the meeting (information and
significant agenda presentation, discussion, answering
questions and meeting resolution) and after the
meeting (preparation, submission and storing the
meeting minutes).
The assessment levels for the Board of
Directors and Committees comprises 4 levels –
Excellent, Very Good, Good and Fair. Assessment
results in 2013 are as follows:
- The entire Board of Directors and
individual director - Very Good
- The Audit Committee - Excellent
- The Human Resources and Remuneration
Committee – Very Good
- The Risk Management Committee – Very
Good
- The Investment Committee – Very Good
•
Assessment of Top Executives
With assistance fromthe Human Resources
and Remuneration Committee in assessing annual
operational performance of top executives, the
Board of Directors adopts the performance appraisal
criteria that were agreed early of the year. In 2013,
the criteria comprised four areas – business planning
and development, supervision of companies within
the Company’s Group, financial management
and organizational management. Each area has
different weight and the assessment result is used
to complement the remuneration of executives. In
addition, the Company assessed the Chief Executive
Officer in terms of capability and management
skills, including leadership, strategy formulation and
implementation, financial planning and performance,
networking, business knowledge and understanding
and personal qualifications.
