Committee for consideration. On the other hand, the company secretary will collect and summarize all the performance appraisal results of all Standing Committees and present them to the Board of Directors. The objectives are to consider the appraisal the results and to implement the recommendations for further development. Performance Appraisal of Chief Executive Officer and High-level Executives Performance appraisal methods are specified to cover and conform to the business direction of Thanachart Group as follows: 1. As regards the appraisal of the performance of the Chief Executive Officer, the Nomination, Remuneration, and Corporate Governance Committee is responsible for developing methods and topics for the appraisal on an annual basis. In this connection, Non-executive Directors (including Independent Directors) would be responsible for the performance appraisal. 2. As regards the appraisal of the performance of executive vice presidents and those with higher levels (excluding Chief Executive Officer), the Chief Executive Officer is responsible for their performance appraisal. In this connection, the reports on the results related to performance appraisal of the Chief Executive Officer and executives at the level of executive vice president and above will be presented to the Nomination, Remuneration, and Corporate Governance Committee as well as the Board of Directors for consideration. Succession Plan The Company pays great attention to the organization’s human resources or personnel because they are an important factor behind its success in achieving the established goals now and in the future. The succession plan ensures that the Company is prepared for coping with rapid changes. As a result, the Company continuously places emphasis on promoting and supporting the nomination of personnel with knowledge and abilities as well as human development. The Board of Directors has assigned the Nomination, Remuneration, and Corporate Governance Committee to make and ensure the preparation of the succession plan. The objective is to prepare persons for moving up into various managerial or key positions. In this connection, the Company will assess the situations periodically and make plans in advance. Personnel in the organization will be nominated and developed on a continuous basis so that they become readily prepared for filling vacancies. Succession Plan Objectives 1. The succession plan enables the Company to adopt a more proactive approach in relation to the nomination and selection of its personnel. It could make a plan to identify in advance personnel who can replace the ones who are promoted, retired or deceased. The objective is to ensure business continuity. 2. The succession plan enables the Company to readily assess the preparedness of its workforce with qualifications and potential suitable for managerial or key positions. 3. In accommodating future business expansion, the Company can prepare in advance an appropriate size of its workforce to fill managerial or key positions. 4. The succession plan serves as motivators for employees. In particular, the policy of supporting internal employee promotion helps boost employee morale. Implementation Processes The Company has adopted the following implementation procedures and processes in relation to the succession plan. 181 56-1 One Report / Annual Report 2021 Thanachart Capital Publ ic Company Limited
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