The Board of Directors recognizes its function of leadership as a governing body of the Company. To this end, the Board has prescribed a review of the application of the Corporate Governance Code for Listed Company 2017 (CG Code) to GC’s business context at least once a year as well as an assessment of compliance with each item in CG Code to ensure that the outcome is appropriate and that development plans suitable for the business are consistently formulated. From the review and assessment of the Company’s compliance with each item in the GC Code in 2021, the Company could adopt most of the CG Code items pursuant to the apply or explain principles. The CG Code item that the Company is not yet able to adopt or has not been adopted by the Company have been recorded in the Board of Directors’ resolutions, as follows: manage information to its best interests. The management is divided into three (3) levels as follows: Governance Level - Appointing the Chief Information Security Officer to supervise and be responsible for network infrastructure security maintenance and IT security and establishing the Data Governance Council which has a duty to make devision and set direction of information supervision, including setting up policies and objectives in accordance with missions and strategies of the Company, as well as providing advice, promoting, supporting and encouraging the information supervision of the Company. Management Level - Set t ing standard and information supervision process of the Company starting from making plan and continuously carry out the supervision, including setting goals, indicators and guidelines in accordance with standard and policies, information supervision issues, undertaking relating to information to be carried out to be in line with the framework for information supervision, and setting up roles and responsibilities of stakeholders and relevant parties. COMPLIANCE WITH THE PRINCIPLES OF CORPORATE GOVERNANCE IN OTHER AREAS GC consistently complies with corporate governance standards. Relevant activities in 2021 are summarized below. (1) Board KPIs The Board of Directors reviewed the Board KPIs to be implemented in 2022 to ensure their alignment with the best practices stipulated in CG Code and the Dow Jones Sustainability Indices (DJSI). (2) Data Governance With regards to IT compliance and management, GC adopted GCMS, which is its integrated management system, and used Data Governance Framework to maintain security and quality of information, ensuring that information important to the Company has been dealt with correctly and appropriately and the operation can be carried out continuously, effectively and in line wi th internat ional standards. GC put in place administration guidelines throughout the life-cycle of information covering compiling, using, maintaining and destroying information to create the Company’s capacity Pracetice/Guidline The Company’s Practice Item 3.1.2 The Board of Directors should determine appropriate number of directors to efficiently performing its duties whereby there shall be no less than five (5) directors and not exceeding 12 directors depending on the size, types and complexity of the business Currently, the Board of Directors is comprised of 15 directors. The Company Corporate Governance and Business Code of Conduct Handbook stipulates that the Board of Director shall consist of no less than 5 directors but not exceeding 15 directors. The Meeting of the Board of Directors resolved that the aforesaid number of directors is appropriate for the complexity and diversity of business types of the Company. Item 4.2.1 (1) The Board of Director should ensure the compensat ion structure by considering appropriatness of the ratio of salary, short-term operation results (e.g., bonuses) and long-term operation results (e.g., Employee Stock Ownership Plan). The Company is in the process of studying the appropriate compensation structure and the connection of compensation, long-term operation results, project duration, stock exchange conditions that would facilitate such undertakings. 130 PTT GLOBAL CHEMICAL PUBLIC COMPANY LIMITED Form 56-1 One Report 2021
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