Supervision of Subsidiaries and Associated Companies Supervisory Mechanisms positions in companies in which it has controlling interest, in accordance with the mutual agreement within IRPC Group, shareholders’ agreements, shareholding structure, or business terms and conditions. 2) Rules and Regulations, and Policies, including various instructions, with a view to establish a linkage between governance oversight in accordance with IRPC’s policies and implementation of such policies to achieve results. 3) Reporting Line and Performance Management This requires companies within the IRPC Group to report on performance and performance assessment in accordance with the IRPC Way of Conduct, one of the group’s key governance principles. Reporting on progress status of policy implementation is required by these subsidiaries’ respective management and/or the Board of Directors. Such management approach must be established to drive efficiency and effectiveness, to be measured against IRPC’s clearly defined performance indicators. 4) Mul t i - level Governance IRPC Group operates a diverse range of businesses, each with its own complexity and characteristics. To ensure IRPC Group’s management approach is applied consistently In addition to corporate governance oversight under the leadership of IRPC President and CEO and other senior executive officers, the company’s Board of Directors oversees the management of subsidiaries, associated companies and joint ventures through IRPC representatives whom the company nominates, with the IRPC Board of Directors’ approval, to serve as directors or executives of these companies. (Further details on this subject appear in “Shareholding Structure” section (Page 97). The decisions on significant investments and business decisions that these representatives make require the approval of the Investment Board, the Executive Board, or the Board of Directors, as the case may be. These representatives must also submit progress reports to the Board of Directors periodically. In 2021, in order to rationalize the management and supervision of subsidiaries in a more transparent manner and ensure they are systematically in alignment with IRPC’s key policies and the PTT Group Way of Conduct 2020, IRPC announced the IRPC Group Way of Conduct Policy on August 4, 2021. The company also introduced IRPC Group Way of Conduct Handbook to establish IRPC’s Governance Principles consisting of: 1) Key Strategic Positions, IRPC has a policy to appoint IRPC executives and employees to key strategic 30 เงื่อนไขกำรพิจำรณำวิธีกำร Deploy IRPC Group Way Conduct: 1. อ� ำนำจในกำรควบคุมผ่ำนสัดส่วนกำรถือหุ้นโดยตรง (Control) 2. ผู้บริหำรที่ด� ำรงต� ำแหน่ง MD/CEO จำกบริษัทผู้ถือหุ้น (Oversight) 3. ข้อตกลงในสัญญำ (Agreement) 3rd tier Subsidiaries Control 2nd tier Subsidiaries Control Monitoring & Review Report WOC Performance/ Results Report WOC Performance/ Results 1st tier Subsidiaries Control Strategic Alignment Performance Excellence Strategic Alignment Performance Excellence Strategic Alignment Strategic Alignment Strategic Alignment Strategic Alignment Performance Excellence Monitoring & Review Control & Oversight Subsidiary’s Way of Conduct Deployment กำกับดูแลผ านนโยบายการบร� หารจัดการแบบกลุ มไออาร พ� ซี Reporting รายงานผลการดำเนินงานตามหลักการปฏิบัติในนโยบาย Subsidiary’s Way of Conduct Control & Oversight Monitoring & Review Report WOC Performance/ Results หลักการก� ากับดูแลบริษัทในกลุ่มไออาร์พีซี GOVERNANCE PRINCIPLE MULTI-LEVEL GOVERNANCE 31 3rd tier Subsidiaries Control 2nd tier Subsidiaries Control Monitoring & Review Report WOC Performance/ Results Report WOC Performance/ Results 1st tier Subsidiaries Control Strategic Alignment Performance Excell nce Strategic Alignment Performance Excell nce Strategic Alignment Strategic Alignment Strategic Alignment Strategic Alignment Performance Excell nce Monitoring & Review Control & Oversight Subsid ary’s Way of Conduct Deployment กำั บดูแลผ านนโยบายการบ � หารจัดการแบบกลุ มไออาร พ� ซี Reporting รายงานผลการดำเนินงานตามหลักการปฏิบัติในนโยบาย Subsid ary’s Way of Conduct Control & Oversight Monitoring & Review Report WOC Performance/ Results 265 Report on Key Corporate Governance Activities IRPC PUBLIC COMPANY LIMITED
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