CEO Succession Planning According to IRPC’s Succession Plan Management, IRPC senior executive vice presidents are selected to undergo the IRPC Group’s executive development program. Upon completion, their leadership skills will be assessed by a top consultancy firm. The company will take into account the results of the assessment to further develop their potential. When there are upper management job openings, they will be nominated and appointed under applicable criteria and procedures. ExecutiveSuccessionPlanningandDevelopment The Board of Directors charges the Nomination and Remuneration Committee with succession planning for N-1 and N-2 senior executive positions, preparing candidates for upper management positions. Succession planning also helps IRPC manage risks, ensures business continuity, and give top talents the incentive to grow with the company. IRPC has a systematic executive succession plan in place and the Nomination and Remuneration Committee is kept up to date with periodic reporting on progress status. Succession planning refers to continuous processes of assessment and development to unlock the full potential of senior executive officers and get them ready to take on future challenges of consistently achieving strategic objectives and long-term goals of the company. This crucial undertaking is implemented in accordance with the following procedural steps: 1) Succession Planning 2) Criticality of Target Role 3) Prioritization of Target Group 4) Succession Readiness 5) Successor Candidate 2)Development of Directors and Executive Officers The company firmly believes in continuing development of directors and executives by providing them with plenty of opportunities to grow professionally. In 2021, the following activities were implemented: Director Orientation In order for newly appointed directors to gain knowledge and understanding of the company’s businesses and to assume the roles and responsibilities as the company’s directors in accordance with the law and international corporate governance best practices. In 2021, the company 254 IRPC PUBLIC COMPANY LIMITED 56-1 ONE REPORT 2021
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