Boardroom Vol. 60 Issue 5/2018: Board Effectiveness

Page 1

Boardroom

Vo l . 6 0

Exclusively For Company Directors

Issue 05/2018 | ISSBN 1513-61755

BOARD EFFECTIVENESS

Content

Boardroom

Vo l . 6 0

Exclusively For Company Directors

ÂŁÂŽĂˆ ŸŸº ĂŠÂź

Board of Directors

Äš ĂƒĂŒÂźĂ‰Š ŸIJĂ?̟Ă?

Prof. Hiran Radeesri

´ŸĂˆÂąĂŠ² ĂŒijijĂŒºĚÉ IJĂŒĂ

Issue 05/2018 | ISSBN 1513-61755

Äš IJŸ Ă– Ă€ĂŒ°Ä? Ă–´à ĂŠ²²°Ä?

ÂŁĂ?ÂŽĂƒŠĂŒÂŚ §ªĂŠ ÀÉĴ²ĚĂŒÂźĂŒ¹ŸŸº ²ĂŠÂť Ă” ŸĂŒ  Ă˜ Ÿ ÄśĂ?ÂźĂˆĂ•¡°Ä?

BOARD EFFECTIVENESS

Vol. 60 Exclusively For Company Directors

Board Welcome CEO Reflection Cover Story Board Evaluation: Building a More Effectiveness Board !N@QC !QHDŰMF The Journey of Family Businesses Tough Boardroom Situations - Independent Directors Share Lessons Learned Board Development Why Disruption is the CEO’s Best Friend (Part2) What is your corporate culture like? Independent Director Corner Chartered Director Corner Anti-Corruption Update Anti-Corruption in Practice

PPP of Anti-Corruption

“CAC and PTT�: From Start to the Big Goal Board Review Board Activities Member Corner Welcome New Member

ÀÉij¯Ă?´ŸĂˆĂ‚ÂŚÂŁÄ?

ĔÜÄ?ĜąĔóŤùÙĊÝĔôúĕÜÝĹœÄ”Ă™Ä?ÄœúÿÙĉòÙĊÝÙĥĊÙĉòÏÄ‘Ä•Ă˝Ă™ÄŒĂ Ă™ÄŠÝïÄ?ÄœĂŹÄ?ėăĹ?ÙĉòĂÚĊâÄŒĂ™Ä‚ĂšÄŠĂœĂšÄ‡

ĔÜÄ?ĜąĔóŤùÙĊÝĔôúĕÜÝĹœĂšĹ?Ä…ĂšÄ‘Ă˝Ă™ÄŒĂ Ă™ÝÝÚÚąĂ&#x;Ä‚ĂšÄŠĂœĂšÄ‚ĹœĂ&#x;Ä”Ä‚ĂťÄŒĂšÄ‚ĂŽÄŠòĉùÙÝÝÚÙĊÝòÝÄŒÄ Ä‰ĂŻÄ˜ĂŻĂş

ėăĹ?ÙĉòĂÚĊâÄŒĂ™Ä‚ĂšÄŠĂœĂšÄ‡

ĔÜÄ?ĜąĔóŤùÙĊÝĔôúĕÜÝĹœòïĂœĂżÄŠĂšÄ•Ă˝ÄˆĂ™ÄŒĂ Ă™ÝÝÚÚąĂ&#x;Ä‚ĂšÄŠĂœĂšÄ—ÄƒĹ?ĂÚĊâÄŒĂ™ĂťÄ‰òïÝÄŠò

Ä‚ĂťÄ?óóÝÄˆÄ”ĂŹÄ›ùÏĹ?ÄŠĂąĂ™ĂŚÄƒĂšÄŠĂş Ă™ĂŚĂťÄˆÄ”òÄ?úòÄ—ÄƒĂšĹœÄš ĂŻÄ?ÄœÄ”Ă™Ä?ÄœúÿĂšĹ?Ä…Ă&#x;ÙĉòÙĊÝïĥÄŠÄƒĂąĹ?ÄŠĂŻÄ?ÄœĂ™ÝÝÚÙĊÝ

08 10 10

Vice Chairman

²ĂŠÂŚĂ‚ĂŠĂ€ ¡Ĝ²Ă?ÂťÄ? ¹²Ă€ÂźĂŠ²ĂŒ§

Ms. Potjanee Thanavaranit

14 17 24 24 28 34 38 42 44 44 47 50 52 54 56

Mr. Prasan Chuaphanich

Mr. Predee Daochai

ŸÉ à ĂŠ ĂŠŸ ŸŸº ĂŠŸ¾Ă‘ĊÅĝÊ²Ă€ ĂŠÂź

Acting President & CEO

 ŸŸº ĂŠÂź

Director

²ĂŠÂŚĂ˜¥ĚŸĂ? Ă”²Ă?ĂœĂ…ÂŚĂ‚ĂŒ ¥ĂŠĂ”¡Ă?²

Mrs. Kaisri Nuengsigkapian

Äš ¡ĂŒĂ”Ěà  ĂŒÄłĂŒ¡ŒĚÄ? Ă…Ă?Ÿ¡Ă?¡Ă‰Ĵ²¡ŒĚÄ? ²ĂŠÂť ĜŸĂ‰º¡Ÿ Ă–§ijĂŒ Ă”Ă‚ÂŻĂ?Ÿ

²ĂŠÂť §Ă‰ÂťĂ€Ă‰Ĵ²Ä? Ă…Ă?°Ă‰ÂťĂ€ŸŸŽÄ? ²ĂŠÂŚ ²Ă€ž¡ŸŸŽ žĂœÄťĂŠ¨ĝĂŠ

²ĂŠÂť ³ŸŸĜŒ ÄśĂŒijijÄ?ÕĜĊŒ

²ĂŠÂť Ă˜¡³Ă‘žÄ?  ĂŒijijĂŒ̟Ă? Ă‰ÂŚĂ€ĂŠ²

14

Mr. Krik-Krai Jirapaet

ŸÅŒ´ŸĂˆÂąĂŠ² ŸŸº ĂŠÂź

²ĂŠ§Ă‰ÂťĂ€Ă‰Ĵ²Ä? Ă…Ă?°Ă‰ÂťĂ€ŸŸŽÄ?

06

Khunying Jada Wattanasiritham

Chairman

²ĂŠÂť ´ŸĂ?IJĂ? IJĂŠĂ€ĸĂŠÂť

ISSBN 1513-61755

Prof. Kovit Poshyanand

´ŸĂˆÂąĂŠ² ŸŸº ĂŠÂź

²ĂŠÂť ´ŸĂˆĂ‚Ă‰ÂŽĂƒÄ? Ă”§Ă?Ă?Ă…¡ĂŠ²ĂŒ§

Issue 05/2018

Honorary Chairman

IJŸ šĂŠ Ÿ Â´Ä ÄłÂąĂ€Ă‰§§Ă‰Âť

²ĂŠÂŚ šĂ‰°ŸĂ?Ê Ă”³ŠĜ¡ž§Ă‰Âť ²ĂŠÂť Ÿ¡Ă? Ă‚Ă?ĜŸĂŒij Ă?ž

²ĂŠÂťĂ‚Ă?¡Ă‰Ĵ²¡Œà Ä? ¡Ă‰²¹Ä?ÂşĂ?Ă”§ĂŠĂ€Ä?

Mr. Chaiwat Utaiwan

Prof. Kitipong Urapeepatanapong Mr. Charamporn Jotikasthira Mr. Chaiwat Utaiwan

Mrs. Nualphan Lamsam

Mr. Banchong Chittchang

Mr. Paiboon Kittisrikangwan Mr. Pakorn Peetathawatchai

Mrs. Patareeya Benjapolchai Mr. Rapee Sucharitakul

Mr. Supattanapong Panmeechaow

ÂŁÂŽĂˆ ŸŸº ĂŠÂź ,DLADQ

Member Engagement Committee

(Boardroom)

Dr. Chatchavalit Saravari

Engagement Committee IJŸ §Ă‰§Ă€žĂŒÄł ŸÀʟĂ?

²ĂŠÂť ÂŽ ¡Œà Ä? Ă‚Ă?ÂĄĂ‚ÂŚĂ€²

²ĂŠÂť ÂąĂ?ÂźĂˆÂťĂ?°¹ ijɲijŸĂŠ¡ž

²ĂŠÂŚĂ‚ĂŠĂ€ šĂ‰£§Ă‰ŠŠĂŠ §Ă?ÄłĂŒÂşĂŠĂ€ÂŚÄšÄ? ²ĂŠÂť ÀÉĴ²ĂŠ ĂƒžĂŠÂťĂ”¡ĂŒĂœº¡Ă‘²

Âź Äł ° ÄšĂŒĂ€ĂˆÂźĂ‰ à Ä? ¡ĂŒ²ĂŒÄśĂŠŸºŽÄ? ¾Ě Ă…²Ă?§ĂŠ ÄśĂŒ²ij ĂŠ²²°Ä?

(Boardroom)

Mr. Norpong Suksanguan Mr. Teerayuth Tantraphon Ms. Pacchanya Chutimawong Mr. Wattana Laipermpoon Pol.Lt. Sivaraks Phinicharomna Asst.Prof. Anucha Chintakanond

²ĂŠÂť Ă…šĂŒĂ€Ă?Ä´ĂŒ ¡ĂŒºžĂ•Ă‚ÂŚĂ‚Ă?ÂźĂŒÂťĂŠ

Mr. Apiwut Pimolsaengsuriya

ÂŁÂŽĂˆÂľĂ‘ÄŠÄśĂ‰IJ°ĝĂŠ ÔĜĊʥŌ

Owner

Ă‚ÂşĂŠÂŁÂşĂ‚Ä‰ÂŚĂ”Ă‚ÂźĂŒÂşĂ‚ÂŻĂŠÂłĂ‰² ŸŸº ĂŠŸ³ŸĂŒà ° É Ă˜°

Thai Institute of Directors Association

 Ă…Œ³ŸŸŽĂŠÂąĂŒ ĂŠÂź

Editorial Team

²ĂŠÂŚĂ‚ĂŠĂ€ ÄšĂŒÂźĂŒ¡Ÿ Ă€Ă?Ä´ĂŒ Ă?ž

Ms. Siriporn Wutthigul

²ĂŠÂŚĂ‚ĂŠĂ€ Ă‚ĂŠÂźĂŒÂŽĂ? ԟĂ?Ă…ÂŚÂŁÂŚĂ” Ă?ŸijĂŒ

Ms. Sarinee Ruangkongkiat

²ĂŠÂŚ Ă€ĂŒĂ˜žŸĂ‰ij²Ä? Ă”²ÄŠ²Ă•Ă‚Œ¹ŸŸº

Mrs. Wilairat Nensaengtham

²ĂŠÂŚ Ă€Ă?ŸÀŸŸŽ ºÉ²²ĂŠšĂŒ²Ă‰²°Ä?

Mrs. Wirawan Munnapinun

²ĂŠÂŚĂ‚ĂŠĂ€ Ă‚Ă?°¹ĂŒ²Ă? Ă” ĂŒIJ§Ä‰Ă€Âť

Ms. Suthinee Kerdchuay

ÂĝÊ²Ă‰ ŒĂŠ²ijĂŒIJijĉÅ

Contact

ĂƒÂşĂ‘Ä‰ Ă–£ŸŒ ĂŠŸ²Ă…ÂźÄ?¹´ĂŠÂźÄ?ÂŁ

Northpark Project,

Ă”ÂĄÄłĂƒžĂ‰ Ă‚Ă?Ăœ  ŸĂ?ÂŚĂ”°¡Ă‡

Thungsonghong, Laksi, Bangkok

Ă–°ŸĂ‚ĂŠÂź

Tel: (66) 2-955-1155

Website : http://www.thai-iod.com

E-mail: sarinee@thai-iod.com

Ă…ĂŠÂŁĂŠÂź Ă€ij° Ă…ĂŠÂŁĂŠÂź §Ă‰Ă?²

CMA. Building 2, 3rd Floor, 2/9 Moo 4

¯²²Ă€ĂŒšĂŠĂ€IJĂ?ÂźĂ‰ÂŚĂ‚ĂŒÄł Ă•ÂĄĂ€ΡĂ?Ä‰ÂŚĂ‚Ă…ÂŚĂƒÄŠĂ…ÂŚ

Vibhavadi-Rangsit Road,

Ă–°ŸĚÉ¡°Ä?

10210

E-mail: sarinee@thai-iod.com

Fax: (66) 2-955-1156-57

Website : http://www.thai-iod.com

Unique problems need unique solutions.

Board Welcome

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BOARD WELCOME

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which presents our interview with Mr.Yuth Vorachattarn, our first independent director, about his role as a director. Additionally, we provide a summary of the Family Business Club Breakfast Talk under the topic: the Future of Family Business. We were honored to have Mr. Ng Siew Quan, Asia Pacific Leader, Entrepreneurial and Private Clients, PwC Singapore, in the event to share his real experiences in working with a familyowned business.

Ă†ĂŒĂ MIS*I T9 T;+Rc6 ES<=ERaD-; `GR 'ITCE[ +T$<OE 6E[C,<S<;Wh `GR8 T9 T;b6L;b+ _>D`@E <9'ITC6We%O*9 T;bM _@YgO;LCT-V$ O T;$fLTCTE8L *CTc6 9Wg ðòùüÌÍââ½ùüÞ̪ÌÏå Ă ĂŹĂŞ Next, we introduce you an article on ÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞ organizational culture which is a risk factor This issue of Boardroom is packed with useful information for our directors. The main theme of this issue is “Board Effectivenessâ€?. We begin with great articles on director assessments in order to improve the effectiveness of director performance which is considered as a mechanism to drive the organization to sustainable business, following by a summary of the Independent Director Forum event that the independent director club together with IOD held under the topic: Tough Boardroom Situations – Independent Directors Share Lessons Learned. The event covered different issues which have occurred in different companies around the world, experience exchanges, and useful recommendations from Mr. Chalit Limpanavech, independent director from Tipco Foods Public Company Limited and Dr. Thitipong Nandhabiwat, director of Port Authority of Thailand and Thailand Post Distribution Co., Ltd. The event was hosted by Mr. Yuth Vorachattarn, Chairman of the Board of Directors. In this issue, there is also a new column: Independent Director Corner

that influences Ethics & Compliance system in companies worldwide. In order to develop a full understanding on the topic, we would like to clearly publicize organizational culture as many organizations still have misconceptions. The answers can be found in the Board Development column. Moreover, there is also the second part of Disruption is the CEO’s best friend article which continues from the last issue. Finally, we end with the Chartered Director Corner which we would like to welcome Mrs. Heather Suksem OBE as our professional director with an interview on how to create the company’s value, challenges for Thai directors and differences between directors in Thailand and elsewhere. We hope that our readers will gain useful information and knowledge from Boardroom in this edition, and if you have any interesting articles and would like to share with our members, please kindly send it to suthinee@ thai-iod.com. ---------------------------------------------------

§ō°¶Ňª įŊĨ §ŮªÃ ³ Á Œ½Ä¨ Ů£

KTB Care

KTB.CO.TH

CEO Reflection

R-%K<AK,3 GR1K<A==- Ú² ÐÉÑßÉÜ ÜÉÑßÉÖ Acting President & CEO Thai IOD

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8 | Boardroom

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A former IT management expert-turnedprofessional director “Chaiwat Utaiwan� has been appointed as acting CEO of IOD since August shared his work experience and management view on board of directors’ performance and the role of IOD to enhance professionalism among company directors. After graduating Master’s Degree in computer sciences in the US, Mr. Chaiwat returned to home country and worked as a IT management consultant for Coopers and Lybrand Associates or PricewaterhouseCoopers at present and Citibank for over 12 years. Later he worked full time for several commercial banks both in Thailand and overseas. With respectful characteristics as well as versatile knowledge and experience in various business fields, for example utilities, telecommunications, energy and financial institutions, Mr. Chaiwat together with cooperation from the management and staff, helped solve crisis in several organizations, leading to awareness of the directors’ roles in several dimensions.

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and G is governance. Mr. Chaiwat said professionals with corporate governance are “those who will not do any bad thing even though no one see.� The challenge of management amid changing world is to handle any risk which may occur in the future, especially when digital has become more influential. “We have to be open-minded and anticipated to learn at all times. Don’t stick with past success. If you don’t change, you will be changed.�

Mr. Chaiwat said he’s lucky to become a part of IOD, to learn together with IOD executives having high profiles and working efficiently. Experts working for the organization also help expand knowledge by speaking at different courses. Details are useful for directors and executives. IOD also has an important role in supporting Thai private sector in pushing the anti-corruption movement and providing consultancy to listed companies for corporate governance development. In the future, IOD will be a think tank providing consultancy services to business to remain strong amid unstable several organizations beyond listed companies. political situation. “Directors are representatives of the stakeholders. They have to be know- Having over 4,000 members from different ledgable, skillful and equipped with versatile backgrounds, Mr. Chaiwat is confident that experience and leadership in a bid to come IOD is efficient and has potential to do many up with strategy as well as target. So the good things for the society and the country. management and company staff would to IOD directors are also professional and well work withing the same direction following experienced. IOD executives well support the company mission. Risk management activities aimed at strengthening member to minimize unforeseeable limitations and a relationship. follow-up on performance should also be undertaken to ensure that it’s in accordance to IOD Members Space, a new meeting point the policy and regulation. Good governance located on the fifth floor of Gaysorn Building, was recently opened for IOD members to is a must,� he says. meet up in the heart of the city. IOD alumni Several corporate companies give priority are also invited to visit, refresh and sharpen to the ESG principle. E is environment, to their new ideas and knowledge to supoptimize existing resources for sustainable port one another and the organization for benefits. S stands for social responsibility strengthening the IOD future.

Boardroom | 9

Cover Story

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Graph 1: Board Evaluation Ratios

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B o a r d r o o m | 11

The effectiveness of the board of directors is a key mechanism in propelling business towards sustainability and success amid crises. One of the globally accepted and adopted tools is the annual board evaluation. In Thailand, the Securities and Exchange Commission (SEC) has identified it in the Corporate Governance Code 2017 (CG Code 2017) stating that annual performance evaluations of the sub-committees, the individual board and committee members and a suggested triennial board evaluation should be conducted by external advisors. Nowadays, there has been no fixed format for board evaluation. Companies can apply the format and process that each of them sees suitable for its context, environment and culture. Practical evaluation methods include: 1) internal evaluation which mostly appoints a nomination committee responsible for stipulating criteria for self-evaluation and 2) evaluation by independent specialists to strengthen independence and enable external advisors to help advocate comprehensive assessment. The format can be either questionnaires or interviews. Evaluation should cover significant questions for measuring efficiency of the board. Details of the questions should be in-depth for assessing the board structure/qualifications, performance, meeting effectiveness, risk control and management, long-term strategy and business plan formulation, etc. The evaluation results should also be presented at the board meeting for joint consideration and mutual agreement on how to use such findings for improving and increasing board performance and its effectiveness. The Corporate Governance Report (CGR) by the Thai Institute of Directors (IOD) found that Thai listed companies continually raise their focus on board evaluation, as shown in Graph 1.

The graph shows an increase in all three types of ratios representing the evaluations of the board, board individuals and subcommittee. Most Thai listed companies in general usually give evaluation score presented in corporate annual report. What can be more beneficial for minor shareholders and institutional investors than result disclosure is an opportunity for the board to employ those findings in a risk analysis as well as utilize the risk in developing the strategy to cope with the future. Apart from this, listed companies should also support and encourage constant board evaluation.

They should not just acknowledge the results but ought to consider the optimum strategy adjustment and risk assessment as to enhance board effectiveness and lead themselves towards development following the CG Code. In addition, for a better overall perspective, the data on effectiveness evaluation under CG Code is compared below, by countries, for the further usage as case studies of the companies with such assessment underway and also those on their path to the starting point:

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12 | B o a r d r o o m

THAI INSTITUTE OF DIRECTORS

DIRECTOR CERTIFICATION PROGRAM DCP 2019

DCP 269/2019 ย i f ย รณย ย ย |ย fย ย ~ย ย liย ย DCP 270/2019 ย i f ย รณย ย ย |ย fย ย ~ย ย } DCP 273/2019 ย ย i (Residential Program)

WWW.THAI-IOD.COM

Board Briefing

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ÜÚÍÉÜ Õá ÍÕØÔ×áÍÍÛ ÉÛ ÎÉÕÑÔá ÕÍÕÊÍÚÛï IOD members and guests experienced a journey through paths of family businesses at the Family Business Club Breakfast Talk during a presentation given by a consultant with ten years of experience working with family businesses throughout Asia. Under the theme, “The journey of family Businesses”, Mr. Ng Siew Quan, Asia Pacific Leader, Entrepreneurial and Private Business at PWC shared his direct experience with family businesses, covering issues family businesses face as they evolve. The talk began with welcome remarks from Mr. Chaiwat Utiwan, Acting President & CEO, Thai IOD. He spoke about the large role family businesses paly in Thailand, their structures and how they are evolving before introducing the guest speaker. Mr. Quan, began the presentation by highlighting the life cycle of a company from being owner-run to becoming listed. In Asia, many companies are family-controlled, making it difficult to transition to a listed company. The first generation sets up a small business, passes it on to the second generation. As the business expands, the transition to the third generation becomes more complicated, with family members not so eager to take over the business. The dynamics of family businesses are such that families need to set down a set a of rules and procedures to deal with the following issues: how to align family interests, how to

16 | B o a r d r o o m

grow the business, succession, preserving family wealth and dealing with special situations, such as divorce or emergencies, said Mr. Quan, He specifically focused on succession and the different scenarios, while the noting that if not set properly, it could be “quite messy”. In the next part of the presentation, Mr. Quan discussed the need for family governance in a family business for the purposes of stability, profitability and growth and highlighted the formal elements of a family governance system, the family constitution, the family assembly and the family council. This followed with a discussion on the mixing of family with business and the three-circle model, which is applied to better understand the diverse interests and expectations of the business/management and the owner/ family. In a family business, Mr. Quan noted that each generational change to the board entails specific challenges and considerations with the composition of the board varying during the different phases of a company.

environment. Externally, a board of advisors is required specifically, when the scope of the business is beyond the expertise of the business leader and the professional management to run the company when family members are not interested or qualified to run the company or to assist in the leadership transitions. Other areas covered in the presentation were concerns surrounding professionalism, the advantages and disadvantages of employment of family members, talent retention and the need for succession planning. With regard to talent retention, Mr. Quan quoted one successful family business owner as saying, “I treat my family members as employees, I treat my employees as family members”. Mr. Quan concluded the presentation with three key takeaways: • Family businesses at different stages have different governance requirements • When professionalizing the business, seek first to understand the family dynamics • Effective family business succession covers succession in both ownership and leadership.

The presentation next covered the requirements for professionalizing the family business. Mr. Quan said internally, there is a need for family councils to deal --------------------------------------------------with family issues, family meetings to inform Event supported by members of the status of the business and family retreats, which are held at an off-site location to give families the opportunity to discuss family business issues at a neutral

Board Briefing

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Ms.Varunee Pridanonda

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Mr.Anurat Kongtoranin

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Mr.Chalit Limpanavech

LlTMES<MSI% O$TE+S6=ER-ZC Æëáâíâëáâëñ Áæïâàñìïð Ãìïòê 'ESh*;Wh8YO_= ;`;I'V69WgCT+T$ -CEC$EEC$TEOVLER .Xg*DS*CWOW$MGT$MGTD $V+$EEC9Wg-CEC$EEC$TEOVLER$lTGS*MTEYO9Wg+R +S6%Xh; MT$9 T;$EEC$TEOVLER9 T;b6L;b+ LCS ' E_= ; LCT-V $ %O*-CEC$EEC$TEOV L ER LTCTE8LO<8TCETDGR_OWD6c6 9Wg ­ª¯¶²²ª®®²² 7 O ±­® MEYO ±­¯

B o a r d r o o m | 19

Mr.Yuth Vorachattarn

Nowadays stakeholders, who are shareholders, institutional investors and regulators, generally have higher expectations on the role of independent directors in overseeing business operation to ensure corporate governance is implemented. Independent directors’ ability to perform with efficiency is a challenge they must emphasize. Experience in different roles and actions of independent directors based on director’s position, the nature of business and the board structure, makes an interesting topic. IOD and the Independent Director Club in collaboration with Ch.Karnchang Public Company Limited, PTT Global Chemical Public Company Limited and PricewaterhouseCoopers ABAS Limited Company to organise the Independent Director Forum on the topic “Tough Boardroom Situations - Independent Directors Share Lessons Learned”. The forum began with a presentation on the topic “Managing Tough Issues in the Boardroom” by Varunee Pridanonda, Partner and Advisor for Governance, Risk and Internal Audit of PricewaterhouseCoopers ABAS Limited Company. The key message is that, as companies worldwide are facing with problems, directors, especially the independent directors, are questioned whether they have done enough. When

20 | B o a r d r o o m

the company’s practices and requiresitting in each of the company’s subment? committee, the independent director should take into account particular questions for - How are the employees informed that the remuneration assigned to the the effective and trouble-free performance, management is aligned with the which can be concluded as follows: company’s policy? ¶ÚÊØÙÎÔÓØ ÆØ ÙÍÊ ÓÔÒÎÓÆÙÎÔÓ ÈÔÒÒÎÙÙÊÊ - Is there a coordination with the nomination committee to formulate an - Have you assessed which director’s applicable structure? skills are applicable for your company? - Is there any evaluation for the board’s Apart from the above, Ms. Varunee also improvement? - Is there any audit and evaluation provided an overseas case study and suggested interesting thoughts for program on the director’s expertise? independent directors as follows: 1. Independent directors shall be those ¶ÚÊØÙÎÔÓØ ÆØ ÙÍÊ ÆÚÉÎÙ ÈÔÒÒÎÙÙÊÊ with extensive experience that is not - Did you ever assure the company of limited only on the scope of internal adequate internal audit and risk corporate procedures but stretches out management program? to also comprehend general situations - Is there enough time for a consultation outside the company. with the board? - Is there any evaluation on the audit 2. Independent directors shall perform their duties taking into consideration the committee’s performance? protection of company’s stakeholders - Is there a monitoring and audit program on the work of company’s auditor? including partners, customers and - Is there a procedure to promptly report employees. significant risks to the board? 3. Independent directors shall consider to ensure adequate resources for ¶ÚÊØÙÎÔÓØ ÆØ ÙÍÊ ×ÊÒÚÓÊ×ÆÙÎÔÓ company’s internal audit and risk ÈÔÒÒÎÙÙÊÊ management, provided that resources - How is the remuneration of the mean staff with capable knowledge, management related to the company’s tools and budget. policy? 4. Independent directors should have - Is the base remuneration for different freedom to ask the management directors compatible to the culture and particular questions and lead a discussion

During the discussion on the topic “Tough Boardroom Situations – Independent Directors Share Lessons Learned” moderated by Yuth Vorachattarn, Chairman of the Independent Director Club, each speaker exchanged Ms. Varunee further reflected on the key interesting experiences and comments as questions that independent directors summarized below. should urge for discussion during the board Chalit Limpanavech, Independent Director meeting which include: 1. Strategic and risk management plan: to of Tipco Foods Public Company Limited, choose the right strategy that is relevant reflected that the board must operate the business with transparency. If the independent to corporate vision and mission 2. Technology such as artificial intelligence directors find any potential irregularities (AI), blockchain and virtual reality, to be such as corruption, they must consult with able to minimize possible impacts and the board and propose a solution for board acknowledgement and consideration. In create business opportunities an event that the board does not listen to 3. Succession plan independent director’s comments, that 4. Remuneration independent director should consider 5. Corporate reputation 6. Realization and protection of stake- resignation with clear explanation for example, inability to perform with freedom holder’s rights in an audit committee or as independent Moreover, discussions expected to be director. covered in the board meeting also comprise the directors’ diversity of gender, age In addition, Mr. Chalit also said that the and expertise. The board should express audit committee member must be observant, various productive views and comments should know well about the criteria for while independent directors should hold the corporate governance and have the courage courage and raise questions in the meeting. to make such comment contradicting that In conclusion, the principal obligation of the of the majority of the meeting. For example, board of director and independent directors in an event of irregular transaction, a in strategic formulation is to ensure adequacy disapproving vote should be made and it and efficiency in governance, risk and must be ensured that the secretary must compliance (GRC). “A combination of Good put details about those who approve and Board and Good GRC can lead to Good disapprove the agenda in the meeting minutes. Mr. Chalit shared his thought for Organisation” on conflict of interest in the board meeting. In the event of potential irregularities, independent directors should undertake to investigate on the matter.

independent directors that they should thoroughly choose the company to work with on the basis that it should be transparent and accountable. Mr. Chalit has chosen to currently work with the company assessed with five stars on corporate governance. Anurat Kongtoranin, Independent Director of Nutrix Public Company Limited, reflected his experience as an independent director for a family business saying that more than 90% of Thai listed companies were family business, of which the major issues were lack of good structure and exit plan as well as lack of applicable GRC strategy. Problems from such causes might not be obvious during the transition from the first to the second generation but they usually become more tangible during the transition from the second to the third generation. Key issues typically come from business succession. For example, CEOs in the family business usually remain in the position for too long as they are the business founders and always have confidence in the way they run business. It rather takes time for them to step down since they do no trust their successors to manage the business. This holds back the sustainability in family businesses. However, Mr. Anurat thought that family businesses started evolving as they sent more people to join the training under the Directors Certification Program (DCP). This is a good start for corporate governance in preparation of company

Dr.Thitipong Nandhabiwat

B o a r d r o o m | 21

listing into the stock exchange market in the At the end of the forum, the three speakers future. shared their suggestions for independent directors. Chalit Limpanavech stated that Dr. Thitipong Nandhabiwat, Director of Port independent directors should provide diverse Authority of Thailand and Thailand Post experiences in legislation, accounting or Company Limited, reflected his experience IT. He then added on practices in the family as independent director for state enterprises business saying that the proportion of saying that their businesses were different independent directors should be increased from those listed companies in terms of so that they could rightfully make more valid regulations and restrictions, involvement in votes and comments on particular matters. legislative act and trade unions, building up the diversity that needs to be monitored. To Anurat Kongtoranin addressed the directors protect their benefits, independent directors in family businesses suggesting that the must study the rules of practice and further business governance structure be firstly investigate on law violation if they fail to formulated. The persons of significant comply with particular procedure or process. positions must discuss in advance on the In the event of complaints from trade unions, corporate vision and mission, and should the board needs to negotiate for an explicit agree on family constitution. As it may and compromising solution for all parties. take some families an amount of time to discuss these topics, the company may Dr. Thitipong said that, although its consider the assistance of an impartial and remuneration was far smaller than that independent expert in outlining and offered by listed companies, serving as formulating the system, strategy and code state enterprise’s independent director was of conduct at the beginning of the business. considered a public service for the country. He shared his advice for the directors Dr. Thitipong Nandhabiwat suggested that deciding to serve in state enterprises that independent directors should have their they had to study legislative acts related regular meetings, for each of which they to that agency. Opposite views could be should come up with a good conclusion or proposed during a meeting. The thing is resolution to be proposed to the board. any approval of any wrongful activity would result in a lawsuit afterwards.

22 | B o a r d r o o m

An independent director should have the courage to ask questions in the meetings and not just act as a “rubber stamp” director. If one already makes a decision to become an independent director, he/ she should inform his/her family according to the law, state enterprise’s independent director is required to submit spouse’s assets declaration. The topic of this Independent Directors Forum is the idea by the Independent Director Club. There are a wider range of activities that the club is discussing on organizing. Should any independent director be interested to apply for the Independent Director Club’s membership, please call Tel. 0-2955-1155 ext. 401 or 402 for details. --------------------------------------------------Event supported by

3L"DLAG= L3/ #P"2O=8L3N% Û² ÝÚÉÓÉÚÖ ÝÖÏÜÐÑÚÉØÉÖÑËÐ Sr. CG Analyst Research & Policy Thai IOD

Board Development

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Sense, Act, Shift, Repeat Converting new mindsets into sustainable agility requires understanding and anticipating how environments will change so that leaders can maneuver successfully and rapidly. It ;L A LBK/=S1O_ R-[? /L;[; 1K3Ăť also requires developing new behavioral practices that enable change resilience. E?O W?O_<" L=W5 3E?K 5 *L31O_ [; 8= G;#J As Global Leadership Forecast 2018 shows, agile organizations excel and drive W ?Q_G3[EA discipline in three areas:

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ĂšÂ˜ ÂŽĂ“Ă‹Ă”Ă—Ă’ĂŽĂ“ĂŒ Ă‰ĂŠĂˆĂŽĂ˜ĂŽĂ”Ă“Ă˜ Ă™Ă?Ă—Ă”ĂšĂŒĂ? ÉÆÙÆ ÆÓÉ Ă†Ă“Ă†Ă‘ĂžĂ™ĂŽĂˆĂ˜Â˜ More agile organizations leverage predictive data and analytics to fuel their sensing capability, with 91 percent of their leaders indicating that they’re prepared to use data to guide business decisions. This contrasts to only 76 percent at low-agility organizations. Leaders at more agile organizations are also 1.7 times more likely to use analytics to measure the impact of leadership programs and to make talent projections. ĂşÂ˜ ÂŽĂ“Ă™ĂŠĂŒĂ—Ă†Ă™ĂŽĂ“ĂŒ ÒÚÑÙÎÕÑÊ Ă‰ĂŽĂ›ĂŠĂ—Ă˜ĂŠ Ă•ĂŠĂ—Ă˜Ă•ĂŠĂˆĂ™ĂŽĂ›ĂŠĂ˜ ÙÔ É×ÎÛÊ Ă˜ĂšĂˆĂˆĂŠĂ˜Ă˜Ă‹ĂšĂ‘ ĂˆĂ?Ă†Ă“ĂŒĂŠ ĂŠĂ‹Ă‹Ă”Ă—Ă™Ă˜Â˜ Leaders in more agile organizations are twice as likely as their low-agility counterparts to collaborate and rely on diverse perspectives to create new solutions and opportunities and use multiple perspectives to gauge success.

B o a r d r o o m | 25

¦ÛÔÎÉÎÓÌ ÙÍÊ ºÓÒÔÛÎÓÌ §ÔÝ ³ÔÙ ÊÛÊ×ÞÔÓÊõØ È×ÆßÞ ÆÇÔÚÙ ÈÍÆÓÌÊ û ªÓÈÔÚ×ÆÌÎÓÌ ×ÆÕÎÉ ÉÊÛÊÑÔÕÒÊÓÙ ÔË ÓÊÜ Perhaps the greatest shift of all is when ÆÓÉ ÎÒÕ×ÔÛÊÉ ÈÆÕÆÇÎÑÎÙÎÊØ Twice as many CEOs and senior executives fully appreciate leaders at more agile organizations indicated disruption is your best friend. that winning ideas are never created in that failure is embraced or rewarded in pursuit of innovative or different approaches ©×ÎÛÊ ÆÑÎÌÓÒÊÓÙ Æ×ÔÚÓÉ È×ÔØØ ËÚÓÈÙÎÔÓÆÑ isolation at the top. Although businesses (56 versus 21 percent, respectively). ØÍÆ×ÊÉ ÌÔÆÑØ Establish common goals fortify themselves in solid walls and floors, across different parts of your organization today’s uber connected workforce will ¦ÈÙÎÛÆÙÎÓÌ ÙÍÊ ò©ÎØ×ÚÕÙÎÔÓ ¦ÉÛÆÓÙÆÌÊó that rely on interdepartmental cooperation never thrive in an unmoving box. Creating CEOs and senior teams accelerate their and collaboration—and alignment around a cross-functional and diverse cooperation organization’s fitness for disruption through common vision. This will surface information and collaboration is crucial for exploiting purposeful and simultaneous shifting of silos, create transparency, and help anticipate disruption and opportunistically evolving both mindsets and organizational practices. and remove barriers that impede capitalizing with customers and markets. Capitalizing on disruption requires agile leaders who They become engaged and vocal activists on disruption. enjoy the ride, are equipped for and relish in championing the following key tenets ¹ÍÎÓÐ ÇÎÌ ÆÈÙ ØÒÆÑÑ Organizations that continuous shifting as the new state of associated with agility, including: ranked highest in agility were smaller in size being. ©×ÎÛÊ ËÎ×ØÙ ËÔ× ØÕÊÊÉ Encourage leaders and less likely to have grown in complexity --------------------------------------------------to seek rapid deployment and feedback for due to mergers and acquisitions. Rapid new prototypes so that they can capture deployment of new and improved capabilities the information needed to quickly make will require quick communication and decision-making by smaller, more nimble decisions and adjust. ÝÌÚÍá ÕÑÜа в ² groups. Senior Vice President

but in the role of CEO,

µ×ÔÆÈÙÎÛÊÑÞ ÎÉÊÓÙÎËÞ ÉÆÙÆ ÇÑÎÓÉ ØÕÔÙØ Challenge all leaders across the organization to relentlessly mine diverse data sources in support of decision-making and sensing for innovation opportunities. Establish healthy paranoia around identifying and closing information gaps.

26 | B o a r d r o o m

DDI

¦ÎÒ ÙÔ ÆÉÏÚØÙ ÓÔÙ ÆÉÆÕÙ Adapting generally implies change that happens over time, whereas adjusting can be instantaneous. Organizations that are more successful adopt cultural norms that actively endorse tinkering and adjusting.

ÜÍØÐÉÖÑÍ ÍÉÔ Senior Research Consultant DDI

B o a r d r o o m | 27 27

Board Development

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influence to the effectiveness of ethics and compliance system in companies the world over. Apart from those two giants, there are indeed many more companies that invest a massive fortune in their ethics and compliance programs but fail to prevent such scandal and an ethical failure of people in their organizations. These companies do not thoroughly understand what the culture that is deep rooted slowly, unnoticeably in the organization. The ethics and compliance system they have developed is nothing but Incidents from Enron’s creative accounting “programs� that cannot catalyze the so-called 20 years back, to the US-based Wells ethics and integrity in companies’ real-life Fargo’s recent stealthy opening of banking operation practice. accounts without consent from customers, are all brilliant case studies reflecting that The “corporate culture� should be vigorously corporate culture is a risk factor with significant discussed as a number of company leaders

30 | B o a r d r o o m

are misled by the thought that “if they manage to have a complete ethics and compliance program it would help fortify good corporate culture.� However, what happened to these companies lately has proved such statement is not always true. Ethics, compliance program and “corporate culture� building are, in fact, totally different. Ethics and compliance programs are usually originated in the corporate level, e.g. board or executive level, where the “system� is needed to be launched before being diversified to related departments throughout the organization for practical implementation. Therefore, the program’s progress indicators always lie in the form of something calculable by the department

such as the number of employees reading and signing an agreement to comply by the Code of Conduct, the number of employees completing ethics training, and the number of complaints received through hotline system in the previous year, etc. Meanwhile, “corporate culture” cannot be built from the above process. It is not “a working program” that can be initiated by the management and distributed down the line to the lower-level employees. It is the holistic behavior reflecting shared values among the employees, from operation to top management level. In other words, corporate culture is like a jigsaw puzzle that comprises “small pictures” pieced together by individual personal value to create the big picture of corporate value that defines organizational behavior. Hence, its progress indication is not based on statistical data but a thorough understanding of what to be the “significant variables” stimulating or motivating the employees to believe or act in the way that deviates from the direction expected by the organization so that new methods can be decided to fill in the “appropriate variables” as replacement afterwards. There is an interesting idea, which I believe, useful for the companies striving good corporate culture. It incorporates the technique for analyzing and assessing the organizational character to identify the “weakness” in the employees’ overall value, belief and behavior blended into the “corporate culture” in seven levels as follows:

±ÊÛÊÑ ù «ÎÓÆÓÈÎÆÑ ¸ÙÆÇÎÑÎÙÞ - the culture focusing mainly on survival, financial stability and the importance of increasing shareholder’s value

±ÊÛÊÑ ú ¨ÚØÙÔÒÊ× ¸ÆÙÎØËÆÈÙÎÔÓ - the culture highlighting the employees, concentrating on building the atmosphere with mutual understanding and sense

of business ownership, underlining the communication for good relationships both among the employees and those between them and the customers.

±ÊÛÊÑ û §ÊØÙ µ×ÆÈÙÎÈÊØ - the culture that

meets the principle of the organization and stakeholders’ interest. Meanwhile, Level 4 culture seems like a “turning point” for the organization’s character from being internalfocused to more external-focused. This is to get itself ready for the higher level (Level 5-7) of corporate culture predominantly aiming for unity, harmony, social contribution and social and environmental sustainability.

recognizes work standard and procedures, with the employees expected to follow good practices for the purpose of highest efficiency in particular task, and focuses on work quality with internal control system and explicit Previous studies found that most of the work procedures. world’s successful organizations are those who can suitably maintain their cultural ±ÊÛÊÑ ü ¨ÔÓÙÎÓÚÔÚØ ®ÒÕ×ÔÛÊÒÊÓÙ - balance in “every level”. These harmonized the culture which respects the employee’s cultures have become the key factor in comments and decision-making based on creating trust as well as corporate trust that employees have responsibility in competitiveness, leading to company’s their assigned job and do not require an ability to adjust for an efficient encounter all-time monitoring. with emerging complex situations and business uncertainties. However, there ±ÊÛÊÑ ý ¸ÍÆ×ÊÉ »ÎØÎÔÓ - the culture that are a number of companies that focus is committed to create employee’s shared too much on developing the elementary vision and value as their guiding tool for level culture (Level 1-3) that it builds up an decision-making and their business direction unaware “weakness” in the organization, such as the atmosphere of working under towards common future goal. uncomfortably strict rules, the commitment ±ÊÛÊÑ ¨ÔÑÑÆÇÔ×ÆÙÎÔÓ - the culture that to short-term goal leading to various forms underlines the nurturing of relationship with of malpractice, employee’s rivalry, silo the stakeholders and responsible business mentality and many more. operation for mutual benefits of the organization as well as the society and the It is also true that the companies environment. concentrating so much on high level of corporate culture (Level 5-7) that they ±ÊÛÊÑ ±ÔÓÌ ¹Ê×Ò »ÎÆÇÎÑÎÙÞ - the culture overlook the enhancement of essential that focuses on coordination with external business skills and capabilities cannot find organizations and groups of stakeholders success either. I, then, would like to end through the contribution for the highest this article with a question: Have you, as the target of “social benefits”, realizing the long- “company leader”, managed to maintain the term impact and sustainability for business “balance” of your organization’s corporate culture of different levels to stay in place? viability. --------------------------------------------------As seen in the proposed idea, the culture 3L<G:N?L: W6 L:N}Y} in elementary level (Level 1-3) realizes the Ú² ØÑÔÉÚØ ÐÉ×ØÐÑÖá× significance of business bottom line including Senior CG Analyst financial stability, customer loyalty, work Curriculum Development standard and practices, etc., which might Thai IOD be considered as the corporate culture that

B o a r d r o o m | 31

Independent Director Corner

R-<R12 A=$K/=2L= Ú² ÐÉÑßÉÜ ×ÚÉËÐÉÜÜÉÚÖ Chairman of the ID Club

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ŽÓÉÊÕÊÓÉÊÓÙ ŠĂŽĂ—ĂŠĂˆĂ™Ă”Ă—Ă˜ From our talk, Mr. Yuth has given a definition of an independent director in line with the purpose of having independent directors in organizations. He said independent directors are representatives of minor shareholders who take care of the benefits of every party in order to prevent illegal actions and exploitations on minor shareholders. He added that independent directors also create value to the company and ensure that the board of directors is knowledgeable and well-rounded. These are the qualities and important roles of independent directors in his view.

9Sh*MC6;Wh_= ;_@WD*L I;M;Xg*%O*$TE9lT M; T9Wg$EEC$TEOVLER MT$$EEC$TEOVLER9 T; b67 O*$TE`< *= ;=ERL<$TE5 MEYO7 O*$TE =EX$KT6 T;$TE9lTM; T9Wg$EEC$TEOVLER +T$ _@YgO;$EEC$TEOVLER6 ID$S; LTCTE8LCS'E_% T E IC-CEC$EEC$TEOVLER a6D$TE ðà ÞÍ ĂŽĂ? Ă€Ïåâ _@YgO$EO$`<<AOE C$TELCS'ELCT-V$c6 +T$M; T;Wh MEYO8 TLCT-V$$EEC$TEOVLER9 T;b6 ODT$+R_%WD;<9'ITC6We _@YgO_>D`@E bM _@YgO; LCT-V$ LTCTE8L *CT9W g Ă°ĂžïÌÍââ½ùüÞ̪ÌÏåà Ïê MEYOLO<8TC_@VgC_7VCc6 9Wg ­ª¯œ²²ªŽŽ²² 7 O ¹­Ž Therefore, if a company wants to recruit an independent director to strengthen the ÂĽ'Z5JEWES7; ÂŚ MEYO ¹­¯ ÂĽ'Z5LTEV5WÂŚ ÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞ organization, the company should consider In this edition of Boardroom, we would like to introduce our new column: ID Corner which was launched at the same period as our independent director club. IOD together with our independent director fellows start the club for these 3 purposes: 1.To be the centre for our directors to meet up and exchange information, news, knowledge and experiences in working as independent directors under the principles of good corporate governance. 2. To support and encourage the works of the independent directors and IOD 3. To be the medium of communication for our members to share ideas and opinions to all stakeholders. The member of the club must be a person who was or is being an independent director in an organization which independent directors are required by law or in the organization that requires independent directors in the structure of the board. Additionally, the member must be a current member of IOD. We are honoured to have Mr. Yuth Vorachattarn as our first president of the club. In this occasion, Boardroom has interviewed him on the importance of independent directors and the operation of the club.

how the structure of the board should be and see if there are any lacking qualifications or expertise. In addition, the person must also be qualified for an audit committee position, and it is the duty of the nomination committee to recruit the right person for the job.

šĂ?ĂŠ ¡Ă”Ă‘ĂŠ ÔË ŽÓÉÊÕÊÓÉÊÓÙ ŠĂŽĂ—ĂŠĂˆĂ™Ă”Ă—Ă˜ As the main role of independent directors is to take care of the benefits of all parties, it is necessary to build trust among all stakeholders. Mr. Yuth explained that independent directors can gain trust from the shareholders by: being honest, not interfering with the company’s stock, keeping the company’s secret secured, and sharing their opinions straightforwardly and reasonably. Moreover, they can create the company’s value by using their experiences and connections without any conflict of interest. They can also create the value by giving priority to information disclosure, information transparency, and information accuracy as well as paying attention to the standards of financial reports. However, independent directors shall be able to work effectively when they attend

B o a r d r o o m | 35

every meeting and study necessary information beforehand, truly understand the business, have strong leadership skills, and dare to express their opinions straightforwardly, reasonably, and sincerely. He also added that independent directors should be able to use their connections and experiences to create business value; for example, by creating risk management systems that can reduce or control risk at acceptable rates. Independent directors also need to catch up with the changing business environment, laws and regulations relating to the business. They need to keep studying and following new trends and new practices of good corporate governance regularly in order to enhance their effectiveness.

¨ÍÆÑÑÊÓÌÊØ

director with other independent directors, you may join the club by scanning the QR code on this page and fill in the application form. If you would like to write articles and share them with our members, please submit your articles to sarinee@thai-iod.com. For more information, please call 0-2955-1155 ext. 401 (Khun Srirat) or ext. 402 (Khun Besides external factors, strengthening the Sarinee). organization internally is another key strategy. --------------------------------------------------Directors as strategic leaders need to understand the nature of the business and the business planning well. They need Scan for more to focus on strategic planning and risk detail about ID prevention; they need to analyze the Club budgets and follow up with the results, and lastly they need to ensure that the internal control system is concise, appropriate and adequate. 3L"DLADR12N3O W N.% A< the businesses, the intense competition and the survival of business, conflicts of interest arising from major shareholders, and finding ways to contribute to business value creation. According to him, these are big challenges for all independent directors and directors.

Mr. Yuth said that challenges that independent directors have to face at the present time These are just part of independent directors’ are: the changing business environment role. If you would like to share your experiences and the changes in the laws which affect or consult about your role as an independent

36 | B o a r d r o o m

Û² ÝÜÐÑÖÍÍ ÍÚÌËÐÝÍá Senior Officer Member Relations Thai IOD

B o a r d r o o m | 37

Chartered Director Corner

²×Ø ­ÊÆÙÍÊ× ¸ÚÐØÊÒ Office of the Most Excellent Order the British Empire (OBE) ÀåÞïñâïâá Áæïâàñìï Àìïëâï %O7 O;ES< 'Z5`P7_7OE LZ%_$KC Ì¿Â b;2T;R$EEC$TE OT-W@';9Wg ²¯ %O* ÆÌÁ MGS*+T$_$KWD5+T$ 7lT`M; * ÀÂÌ 'Z5`P7_7OE CW_+7+lT;*9Wg+R'* L I;E ICb;I*$TE:ZE$V+`GRMGS*+T$9Wgc6 =EX$KT $S<'Z5<S53V7 ;V+8TIE O6W7$EEC$TE>[ OlT;ID $TE ÆÌÁ 'Z5`P7_7OE c6 7S6LV;b+_% TE IC ÀåÞïñâïâá Áæïâàñìï íïìäïÞêêâ @E OC9Sh* LCS'E_= ;$EEC$TEOT-W@ 'Z5`P7_7OE _-YOg I T $TE? $O<ECOD T*7 O_;YgO* $TEc6 ES<'lT=EX$KT +T$ ÆÌÁ `GR$TE`< *= ;=ERL<$TE5 E IC $S<$EEC$TE9 T;OYg;e+R- IDbM 9 T;c6 _@VgC@[; =ERLV9:VBT@$TE9lT*T;b;2T;R$EEC$TE`GR - ID%DTD_'EYO% TD9T*:ZE$V+%O*9 T;6 ID

38 | B o a r d r o o m

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Chartered Director Corner welcomes Mrs. Heather Suksem, OBE as the 52th professional director of the Thai Institute of Directors. After retiring from the CEO position, Mrs. Heather wanted to remain active in the business world, and after consulting with Dr. Bandid Niijathaworn Ex-President & CEO of IOD, she decided to join the CD programme and apply for a Chartered Director position. She believes that the ongoing training and mentoring available from IOD and sharing experiences with other board directors will help her increase her effectiveness as a board director and increase her network of business.

GX/ / L"=JEA L" ==; L=Z35=JW1B[1< X?JZ35=JW1BGQ_3]

ÂŞĂ?Ă•ĂŠĂ—ĂŽĂŠĂ“ĂˆĂŠĂ˜ ÆÓÉ ÂŞĂ?Ă•ĂŠĂ—Ă™ĂŽĂ˜ĂŠ

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Before her retirement, Mrs. Heather was a Chief Executive Officer for OCS Group (known as PCS Thailand) who specialises in various areas such as corporate vision & strategy, people development and management, and corporate governance and management. She has grown the business in South, Southeast Asia and Middle East with a total staffing number of 57,000 in the region, and Thailand is the largest business with over 30,00 staff. In 2015, she was recognised as an Officer of the Most Excellent Order of the British Empire (OBE) in the New Year Honours list for services to British interests, the community and charitable interests in Thailand.

ŽÓÉÊÕÊÓÉÊÓÙ ŠĂŽĂ—ĂŠĂˆĂ™Ă”Ă—Ă˜ ĂŽĂ“ ¨Ă—ĂŠĂ†Ă™ĂŽĂ“ĂŒ Ă™Ă?ĂŠ ¨Ă”ÒÕÆÓÞ ÆÑÚÊ In Mrs. Heather’s viewpoint, independent directors bring independence of mind and diversity to the board. They also bring in a wide range of skills, experience, and culture. She believes that the role of independent directors is to support the effectiveness

B o a r d r o o m | 39

of the board by ensuring a high level of corporate governance within the company and ensuring success and sustainability. She also added that independent directors must be active, understand the business, get to know the people within the business, and keep up to date with competitor and market information. By working closely with the other members of the board, they ensure the board oversees the creation and implementation of a successful strategy, nurtures innovation, strengthens risk management and internal controls ,and ensure all stakeholders are treated fairly with integrity.

as an effective board member in a fastmoving market place. The director must be a team player and have a clear focus on his role on the board. He must have clear understanding of his role and keep up-todated with courses, competitor information, and market information. He must get to know the business and its people. Lastly, he must have strong business and work ethics. Differences between Board of Directors in Thailand and in Other Countries Mrs. Heather believes that boards, wherever they are, have to change and be much more active and focused. They have to support the CEO and their team to ensure success and sustainability of the business.

¨ÍÆÑÑÊÓÌÊØ ËÔ× ¹ÍÆÎ ©Î×ÊÈÙÔ×Ø As our world is moving at a fast pace and keeping up with technology, Mrs. Heather views cyber risks and changes in the marketplace as key challenges. She pointed out that the directors need to work closely with the CEO to ensure the company is constantly keeping ahead of the game and finding the right opportunities to move ahead of the competition is key. The Board needs to support the CEO to ensure the company can gain advantage with speed and focus. Also she note that the directors need to ensure there is an effective CEO in place for this changing environment and support the CEO and his team in their effective implementation of strategy and management of people and process to ensure success. A focus on effective corporate governance is key with a clear insight of risk and its mitigation. A clear CSR policy and implementation is key for the sustainability of the business.

§ÆØÎÈ °ÓÔÜÑÊÉÌÊ ËÔ× ©Î×ÊÈÙÔ×Ø In Mrs. Heather’s perspective, the directors must have proven success in his area of expertise and must be able to operate

40 | B o a r d r o o m

Board Directors must know the business and the people and partner on creating the correct strategy for the business going forward. The focus must be on the ongoing strategy and ensuring the implementation by the CEO. Speed and agility are key in the ever-changing world. Each board Director has a key role to plan in the ongoing success of the business – corporate governance, risk oversight and performance monitoring are key but ensuring the strategy is correct to keep ahead of the competitors and then implemented is the key success factor. Focus and speed here are critical. ---------------------------------------------------

3L"DLAB=ÿ=K/3 WG;;K. Û² ÚÑÚÉÜ ÕÕÉÌ Assistant Manager Member Relations Thai IOD

Anti-Corruption Update

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IS;9Wg ° 7ZGT'C <EVKS9 7EI+LO<BTDb; 'ITC'Y<M; Ta'E*$TE À¾À b;- I*_6YO; :EEC;V7V +lT$S6 _-V IV9DT$E À¾À c=<EEDTD $S;DTD;ª7ZGT'C CWETDGR_OWD6 6S*;Wh bM 'ITCE[ _@YgO_7EWDC'ITC@E OC<9<T9%O* ³ $S;DTD; %O*9Z$= $lTM;6_= ;IS;7 O7 T; >[ 7EI+LO<BTDb;OVL ER9Wg+RLO<9T;ER<< 'OE ES=-S; a6D= ;Wh_; ;_EYgO*$TE=GZ$@GS*CI-; 'I<'ZCBTDb;7TC;aD<TD7 O7 T;'OE ES=-S; bM ';c9D7Y;g E[L a [ $* a6DLCT'CL *_LEVCL8T<S; IS;9Wg ± 7ZGT'C $GZ C<EVKS9 ÑÈÐ +S6 Æëª $EEC$TE<EVKS9c9D ¥ÆÌÁ¦ c=E IC+S6`L6* ;V9EEJ$TE>G*T; a'E*$TE À¾À <EV_I56 T;M; T åìòðâ À¾À ôìïèðåìí _@YgOES<9ET<8X*ETD M O*+S6*T; .Xg*CW';_% TE IC*T;b;= ;WhCT$$I T GR_OWD6%O*a'E*$TE`;IE IC=0V<S7V%O*BT' _O$-;c9Db;$TE7 O7 T;$TE9Z+EV7 ¥À¾À¦ °©²­­ ';

LlTMES<% OC[G_$WgDI$S<a'E*$TE À¾À = ++Z<;S CW<EVK9S 9W_g 'DG*;TC=ER$TJ_+7;TEC5 _% TE IC7 O7 T;'OE E=S -S;$S<a'E*$TE À¾À `G I +lT;I; ¶¯® <EVKS9`GR<EVKS99Wg> T;ES<EO* °°¯ <EVKS9 9Sh*;Wh 9 T;LTCTE87V67TC$V+$EEC7 T*e %O*a'E*$TE OT9V_- ; $TE_% TE ICLSCC;T MEYO _% TO<ECMGS$L[7E ¾ëñæªÀìïïòíñæìë· Ñåâ ÍïÞàñæàÞé Äòæáâ ¥¾ÀÍĦ .Xg*_MCTRLlTMES<_+ TM; T9Wg >[ ES < >V 6 -O<$TE+S 6 9l T ER<<'I<'Z C BTDb; _@YgO= O*$S;'OE ES=-S;b;<EVKS9 `GR ÂñåæàÞé ÉâÞáâïðåæí ÍïìäïÞê ¥ÂÉͦ .Xg*_MCTRLlTMES< $EEC$TE`GR>[ < EV M TEER6S < c6 _ % T b+IV :W $ TE >GS $ 6S ; ;aD<TD7 O 7 T ;'OE ES = -S ; c=L[ $ TE <EVMTE+S6$TE'ITC_LWDg *'OE E=S -S; % OC[G9S*h MC6 LTCTE8_% Tc=6[c6 9Wg ôôô«ñåÞæªàÞà«àìê MEYOLO<8TC$TELCS'E_% TO<EC$S<'Z5BS9ETB E5 ­¯ª¶²²ª®®²² 7 O ¯®³

IS;9Wg ¶ 7ZGT'C <EVKS9 @W9W9Wa$G<OG _'CV'OG +lT$S6 ¥CMT-;¦ +S6$V+$EECIS; ÄÀ Äïìòí ÀÄ Á¾Ö ¯­®µ · >;X$$lTGS* ÄÀ ';6W _ 7 T;a$* 5 M O* ¾òáæñìïæòê Ll T;S$*T;ERDO* a6D_-V IV9DT$E À¾À c=E IC<EEDTD_@YgOLE T* 'ITC7ERM;S$8X*BSD= MT$TELV;<;`GR9lTcC 6 T;$TE`;R;lTa'E*$TE À¾À bM `$ ';b;<EVKS9_O$-;+X*CWL IE IC`$ = MT *T;;Wh <EVKS99WgL;b+LCS'E_% TE IC;Sh; ? TD_G%TQc6 +S6 +S6bM `$ >[ <EVMTE`GR@;S$*T;%O*<EVKS99Z$ --------------------------------------------------LSCC;T ÏìÞá ñì Çìæë À¾À ±¬¯­®´ 'ESh*9Wg ER6S< Updates on the CAC activities during ± b;IS;9Wg ¯ 7ZGT'C `GR$lTM;6+R+S6O<EC September to October are as follow: IS ; 9W g ® ® 7Z G T'C a'E*$TE À ¾À +S 6 =ER-Z C Ôìïèæëä íÞíâï ERMI T*IS;9W g ¯¶ª°­ @FJ+V$TD; _@YgO_7EWDC'ITC@E OCbM `$ >[ 7EI+LO<BTDb; =ER+lT= _= ;= 9 gW ¶ ;S<`7 I;S `E$9W$g O 7S*h a'E*$TE MEY O >[ L O<9T;OV L ER_% T b+=ER_6f ; `GRETD a6DMSI% O$TE+S6*T;MGS$-[=ER_6f;_EYOg * Áæðïòíñæëä • To commemorate the anti-corruption GR_OW D 6$TE7EI+LO<ER<<= O *$S ; $TEbM Àìïïòíñæìë _@YgO`L6*bM LCT-V$7ERM;S$8X* day on September 6, IOD organized an $ER`L$TE;l T _9'a;aGDW C Tb- ` $ c %= MT exhibition on CAC projects with an aim to LV;<; awareness on anti-corruption among 'OE ES=-S;9Sh*b;6 T;$TE= O*$S;`GR=ET<=ETC raise Thai people. More than 3,500 participants b;IS;_6WDI$S;;Sh; $fc6 _-V >[ =ER$O< $TE9Z+EV7c6 OD T*CW=ERLV9:VBT@CT$%Xh; attended the activity. $TE:ZE$V+$GZ C ÐÊ _% TE ICA * ÐÊ ¿ïæâãæëä ±¬¯­®µ _@YgOES<9ET<ETDGR_OWD6_$WgDI$S<$TE _CYgOIS;9Wg ¯´ 7ZGT'C Àâëñâï ãìï Æëñâïª • CAC speakers were invited to speak at a _% TE ICa'E*$TEQ `GR$TEDYg;%OES<EO* LlTMES< ëÞñæìëÞé ÍïæóÞñâ Âëñâïíïæðâ ¥ÀÆͦ c6 _-V seminar on corruption prevention held by <EVKS9%;T6 ÐÊ b;IS;9Wg ¯ 7ZGT'C ¯²³® _IGT À¾À c=;lT_L;O>G*T;bM `$ ;S$:ZE$V+7ZE$Wb; Arrow Syndicate Public Company LImited ®°«­­ ª ®³«­­ ;« 5 ÆÌÁ Êâêßâïð ÐíÞàâ -Sh; *T; Âñåæàð Þëá ÏâíòñÞñæìë Ðìàæâñö ¥ÑÂÆÁ¦ 9Wg for the company’s management and staff =ER_9J7ZE$W on September 21. ² _$KEIV_G+ IS;9W g ¯® $S;DTD; <EVK9S `OE aEI .V;6V_'9 +lT$S6 ¥CMT-;¦ +S6LSCC;T<EEDTDbM 'ITCE[ 'ITC_% Tb+$TE= O*$S;9Z+EV7'OE ES=-S;bM $S< >[ <EVMTE`GR@;S$*T;b;$GZ C `OE aEI .V;6V_'9 a6D_-V IV9DT$E+T$a'E*$TE À¾À

42 | B o a r d r o o m

• CAC speakers were invited to a talking session held by The Dharmniti PCL with an aim to prepare auditors for the anticorruption policy.

• CAC was invited to present anti-corruption works in Thailand for Turkish businessmen at the Ethics and Reputation Society in Turkey on October 27.

• CAC Secretariat organized a seminar on the topic “Road to Join CAC 4/2017” on October 2 and a “Working Paper” workshop to be held on November 29-30 so that auditors or independent auditor would understand details about bribery prevention.

About CAC: A total of 921 companies have joined force into the CAC projects. Of the total, 332 companies are CAC certified.

• SME entrepreneurs were invited to participate in the SME Briefing 4/2018 to learn about the project and certification for SMEs. The event was held on October 2 at 1-4pm at IOD Members Space, Gaysorn Village. • TKS Group held an in-house CAC workshop on October 4 so that company staff can learn more about CAC projects and implementation.

Visit www.thai-cac.com for more information about CAC projects for example, seminars, training program on Anti-Corruptin: The Practical Guide (ACPG) suitable for those working on internal audit, Ethical Leadership Program (ELP) for directors and those in the executive level to understand and push for a policy on anti-corruption and risk management, or contat Khun Pattaraporn at 02-955-1155 ext. 216 ---------------------------------------------------

• PTT Global Chemical Public Company Limited organized the activity ‘GC Group CG Day 2018: GC Alliance against Corruption’ on October 9 at its Rayong branch’s auditorium. CAC speakers were invited to present and raise awareness among the management and company staff on the issue of bribery and how the private company can be a part of the solution. • The 9th CAC Annual Conference on the topic “Disrupting Corruption” was held on October 11 with an aim to raise awareness on technology as an effective tool for anticorruption prevention.

3L< N//NW.% $K31K" S? Ú² ÑÜÜÑÌÍÒ ÐÉÖÜÉÖÏÓÝÔ Project Manager Private Sector Collective Action Coalition Against Corruption (CAC)

B o a r d r o o m | 43

Anti-Corruption in Practice

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44 | B o a r d r o o m

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Lately there has been a broad adoption of the Public-Private-Partnership (PPP) concept, mostly in the mega joint projects opened for private investments or concession granted to private companies to carry out projects instead of the government. Cooperation between public and private sector can be applied to other areas including anti-corruption, since it is regarded as one of many serious issues that need such an efficient and productive solution as publicprivate partnership Last August, I had a chance to serve as a moderator at the Regional Seminar on Effective Measures for Bribery Prevention in Private Sector, organized by the National Anti-Corruption Commission (NACC) in collaboration with the United Nations Office on Drugs and Crime (UNODC) and Thailand’s Private Sector Collective Action Coalition Against Corruption (CAC). Held in Pattaya, the seminar welcomed 188 participants from public and private sectors as well as anti-corruption-related agencies in12 countries mostly from Southeast Asia.

I also took the position as one of the facilitators during the last session of the _OTcI 8 TCW'ITC'Y<M; T%O*LO*_EYgO*;Wh workshop on the topic of building the public>C+RCT_G TbM A *OW$b;aO$TL7 Oe c=;R'ES< private partnership on anti-corruption. The --------------------------------------------------- workshop was aimed at gathering comments B o a r d r o o m | 45

From the brainstormed data, we can outline the direction which public and private sectors can work together to seek productive solution to anti-corruption as follows: 1) Encourage private companies to participate in the CAC programs so that they will have a direction from public sector to follow. Supports from the government can be in the form of requirement, for example suppliers bidding high-value project must be verified by CAC. Also it can be in the form of facilitation that CAC can verify companies which can be exempt from the random auditing by public agencies such as the Revenue Department, the Excise Department and the Customs Department etc. The more companies joining CAC, the more benefits will be earned by the government. The thing is as private companies shows willingness to develop a self-control system for anticorruption. Such system will be a mechanism that is effective, sustainable and, most importantly, budget-friendly for the government. 2) Develop an effective whistleblowing platform. Nowadays, the private businesses still do not have courage to report corruption via the existing complaint channels since they are afraid that their identities will be revealed which may cause consequences. CAC has tried to design a platform to work as an intermediary delivery of corruption information from CAC members to the audit agency on an anonymous basis. CAC already proposed this basic idea to top executives of both NACC and the Office of Public Sector AntiCorruption Commission (PACC) giving positive response to the plan.

from groups of stakeholders from various effective internal channel for receiving countries of origin, professions and complaints. experiences in order to find a direction that leads to partnership development against ¼ÍÆÙ ÙÍÊ Õ×ÎÛÆÙÊ ØÊÈÙÔ× ÜÆÓÙØ Ë×ÔÒ ÙÍÊ anti-corruption. In my view, the results from ÕÚÇÑÎÈ ØÊÈÙÔ× this workshop are interesting and should be - to enact anti-corruption law with justice shared with Boardroom readers. and efficiency and to strictly exercise punishment among those violating the Participants were divided into two main law groups, one from anti-corruption agency - policymakers and top leaders of each and the other from private businesses. At public agencies should communicate the beginning, the public sector delegates the policy on zero-tolerance to corruption were asked to identify actions they would and to take action against those violating like the private sector to help reduce the policy. corruption practices. Meanwhile the private - to improve relevant procedures to sector delegate reflected action needed minimize complication in government from the government to prevent corruption. services, to have an exact timeline Comments from all small groups can be and allow tracking of the updates on significantly summarized as follows: government services or permits requested by private companies which will contribute ¼ÍÆÙ ÙÍÊ ÕÚÇÑÎÈ ØÊÈÙÔ× ÜÆÓÙØ Ë×ÔÒ ÙÍÊ to a clear-cut service-providing process, to reduce the exercise of administrative Õ×ÎÛÆÙÊ ØÊÈÙÔ× discretion leading to minimise risks for - to develop a transparent organization bribery. with explicit policy and practices on anti-corruption - to have a risk assessment on corruption After learning about the conclusion, the as well as internal control measures and organising team then threw in new questions monitoring procedure to reduce corrup- for both groups to answer. Delegates from Any update on both matters will be shared public sector were tasked to contemplate in the upcoming issue of Boardroom tion risks - to provide the employees with precise ways to facilitate private companies in achieving magazine. knowledge and understanding, via the actions proposed earlier. Meanwhile, 3L<8ĊC-R 8=E;#==<L trainings, together with creating aware- delegates from private sector were asked Ú² ÐÑÛÉÖÝ ÐÚ×ÕËÐÉÖáÉ with the same question on what they could ness in anti-corruption - to submit information to audit agency do to help support the government based Public Relations Consultant in the event of corruption and set up an on actions listed earlier. Thai IOD

46 | B o a r d r o o m

Anti-Corruption in Practice

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B o a r d r o o m | 47

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48 | B o a r d r o o m

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$I T+R6lT_;V;$TEa'E*$TE`G I_LEf+7TCLS‰‰T 9Sh*;Wh b;= ¯²²œ `GR ¯²³­ =79ÂŤ CWa'E*$TE_% T E IC ÆĂ? 9Sh*LVh; ° a'E*$TE c6 `$ a'E*$TEL8T;W _@VgC'ITC6S;$ T.:EEC-T7VIS*; ODŠ a'E*$TE ER<<9 OL *$ T.:EEC-T7V<;<$_L ;9Wg ² L I;9Wg ÂŻ ÂĽ,R_-V*_9ET ;;9<ZEWÂŚ `GR a'E*$TE ÉËÄ Ă?âà âÌóÌÍä Ă‘âïêÌÍÞÊ `M *bMC +ÂŤERDO* ;O$+T$;Wh =79ÂŤ DS*c6 CZ *>GS$6S;`GR _-V‰-I;bM '[ ' T%O* =79ÂŤ _% TE IC_@YgO%OES< $TEES<EO*_= ;LCT-V$a'E*$TE Ă€žĂ€ _- ;_6WDI $S; > T;$V+$EEC7 T* e _- ; *T;LSCC;T>[ ' T =79ÂŤ ÂĽĂ?òííÊÌâï Ă?âÊĂžùÌÏÍðüÌí ÊÞÍÞäâêâÍù¡ Ă?Ă?ĂŠŒŠ *T;LSCC;T>[ %;L * =79Š *T;LSCC;T >[ `9;+lTM; TD =79ÂŤ _= ;7 ; 9Sh*;Wh_@YgO7S6I*+E 'ITC_LWgD*b;$TE_$V6$TE9Z+EV7'OE ES=-S;7GO6 LTDa. OZ=9T;bM MC6c= ÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞ Most people think of corruption as something distant. In reality the issue may be originated from trivial points around us. To solve the problem, we need to start with cooperation from all sectors. Thailand’s Private Sector Collective Action Against Corruption (CAC) is the project originated from idea of encouraging private sector in Thailand to take part in such problem solving by building and expanding alliance to create an anticorruption movement, through encouragement for the companies to set their policy and practice as well as facilitate a good culture to say no to all kinds of corruption. PTT Public Company Limited (PTT) is the organization with a commitment to and a recognition of good corporate governance and anti-corruption policy on business operation. PTT first became a CAC membership on October 3, 2014. The member was renewed on May 17, 2018. The company also aims to develop and uplift its ant-corruption action by including stakeholders in the process in order to help earn Thailand a Corporation Perceptions

Index (CPI) of not less than 50%, as targeted — ÂşĂ˜ĂŠ ÔË šĂŠĂˆĂ?Ă“Ă”Ă‘Ă”ĂŒĂž ĂŽĂ“ ¾ššþĂ˜ ŒÓÙΗ under the National Anti-Corruption Strategy ¨Ă”××ÚÕÙÎÔÓ ¸ĂžĂ˜Ă™ĂŠĂ’ ŠĂŠĂ›ĂŠĂ‘ÔÕÒÊÓÙ The Continuous Control Monitoring and Phase 3 (2017-2021). Auditing System (CCMS) has been adapted to help filter and monitor any “Red Flagâ€? ¾ššþĂ˜ ŒÓÙΗ¨Ă”××ÚÕÙÎÔÓ ÂŚĂˆĂ™ĂŽĂ”Ă“ With a strong intention to be a good and irregularities, which include potential moral organization that has been searched corruptions, by analyzing, tracing and for by the consumers under the framework giving warnings to the head or related of Pride and Treasure of Thailand, PTT, persons on irregular transactions probably besides promoting the values of R- incurring in procedures such as OrderResponsibility for Society, I-Integrity and to-Cash, Procure-to-Pay, etc. The effort is to Ethics and T-Trust and Respect as part of develop an efficient operation for the internal the SPIRIT corporate core values, also has audit and minimize errors and mistakes in mechanisms to enhance the company’s work procedures. anti-corruption program alongside an urge for active implementation in all process- — ÂŻĂ”ĂŽĂ“ĂŽĂ“ĂŒ ÔË ÂŽĂ“Ă™ĂŠĂŒĂ—ĂŽĂ™Ăž ÂľĂ†ĂˆĂ™ ’Ž¾“ es. This is to assure all sectors that PTT Recognizing the importance of transparent operates its business with transparency, and traceable procurement, PTT determines accountability and anti-corruption such as: its major and high-valued projects by joining the Integrity Pact which is an agreement — ¾ššþĂ˜ ÆÓÉ ¾šš ÂŹĂ—Ă”ĂšĂ•ĂľĂ˜ ŒÓÙΗ¨Ă”××ÚÕÙÎÔÓ signed by three parties, i.e. the government agency as project owner, bidders and the ÂľĂ”Ă‘ĂŽĂˆĂž This policy was announced for implementation observer who is an independent, honest and in 2014 as a direction for PTT’s employees impartial expert with essential knowledge at all levels to strictly follow the work practice. and experiences for particular procurement PTT also communicates its corporate anti- project. The observer would participate and corruption policy to companies under PTT observe the project from the preparation of group for a harmonised and consistent Term of Reference (TOR) until full completion according to the contract. In 2016 and operation through PTT Way of Conduct. 2017, PTT’s three projects entered into the IP which are the Wang Noi Compressor — ò³Ă” ÎËÙó ÂľĂ”Ă‘ĂŽĂˆĂž In 2015, PTT was one of Thailand’s first Station, the Fifth Transmission Pipeorganizations to announce a “No Giftâ€? policy line Project Phase 2 (Chachoengsaowhich triggered a trend as a large number Nonthaburi) and the New Rayong’s LNG of agencies from both public and private Receiving Terminal. sector joined the rise in announcing the same policy. To give the management and In addition, PTT is committed in urging employees a solid work direction, PTT in and persuading the company’s business 2016 revealed its corporate practices under partners to also participate in applying for Anti-Corruption Policy regarding the receiving CAC membership through activities like PTT and providing of gifts, hospitality or any Supplier Relationship Management (SRM) other forms of benefits, leading to a Seminar, PTT Transporter Seminar, PTT practically proper conduct. PTT employees Distributor Seminar, etc., aiming to rid the are to refuse gifts for all occasions. In the entire supply chain of the corruption’s risk event that the gifts are not returnable, they cycle. --------------------------------------------------will be donated for public use.

B o a r d r o o m | 49

Board Review

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LlTMES<'5R$EEC$TEM‰V* M;S*LYO ´ GS$K5R %O*>[ M‰V*9Wg=ERL<'ITCLlT_Ef+_= ;OD T*CT$ b;<OE 6¡ CZCCO*+T$6 T;<;`GRIV:$W TE= ;%X;h c= ;S<_= ;M;S*LYO9Wg'IE' T`$ $TEO T;LlTMES<9 T; '5R$EEC$TEM‰V*9Sh*MGTD`GR>[ 9Wg=ETE8;T 9Wg+RCTDY;b;+Z6e;Wh cC _@WD*`' b;BT'_O$-; `7 DS * EICc=8X * BT'ES 2 ŠO*' $ E$TE$Z J G`GR BT':ZE$V+ Ă?ĂŠĂ‚ 7 T*e M;S*LYO_G C;Wh_+TRGX$ _% Tc=8X*MSIb+`GR'ITC'V6%O*>[ M‰V*b;2T;R '5R$EEC$TE9Wg=ERL<'ITCLlT_Ef+_= ;OD T* CT$%O*O*' $E7 T*eb;LMET-OT5T+S$E >[ .Xg* +RCT`< *= ;'lT`;R;lTOS;§Ă‰Ă?´' TŠ_$Ef6; TE[ `GR GS$K5RLlT'S‰%O*@I$_%T 9Wg+R- ID'Z5LE T* `>;9Wg$TE_6V;9T*%Xh;c=DS*6 T;<;;Sh; MT$'Z5 =ETE8;T9Wg + R$ T I_% T c=_= ; L I ;M;Xg * %O* <OE 6 $TE_6V;9T*%O*'Z5c6 _EVgC7 ;%Xh;`G I9Wg;Wg 'Z 5 +Rc6 E [ I T 'Z 5 $l T GS * LCS ' Eb+$ T I_% T c=L[ LVg*b6`GRL;Z$c=$S<CS; `GR'Z5+Rc6 ' ;@< _EYgO*ETI`GR`;I'ITC'V67 T*e _- ; c6 E[ I T Ă…âĂžùüâï Ă?ĂžĂ&#x;Ă&#x;Ăžùùð M;X*g b;>[M ‰V*9W9g E*OV9:V@G 9WgLZ6b;`I6I*AZ7<OG 'V6OD T*cE7 O$TE9Wgc6 _= ; >[ M ‰V * ';`E$b;<OE 6 LCT'CAZ 7 <OGŠ >[; Tl ';b69W_g = ;`E*<S;6TGb+%O*'5R$EEC$TE M‰V*MGTDe9 T; @E OC9Sh*_M7Z>GI T9lTcCŠ IV:W $TEb69Wg9lTbM Ă?ĂžòÊĂž Ă“âÍÍâÊÊðŠ Ă€Ă‚ĂŒ %O*9Wg 9lT$TEc=EK5WD M;Xg*b;O*' $E9WgbM‰ 9WgLZ6b; LMET-OT5T+S$E =ERL<'ITCLlT_Ef+b;$TE LE T*LC6ZG$TE9lT*T;`GR-WIV7L I;7SIŠ IV:W$TE b69W+g R9lTbM ĂƒĂŚĂŹĂŤĂž ÀÞÍÍÏÍ +T$ ÉÊÏÜåð ¿ÞÍèÌÍä Ă„ïÏòí =ERL<'ITCLlT_Ef+b;$TE>GS$6S;'ITC MGTDMGTD9T*_@Jb;ER6S<>[ <EVMTEER6S<L[* bM L[*8X* ¹­¢ BTDb;= ¯­¯­ `GRIV:W$TEb69Wg Ă‘ĂŹĂŤĂŚ ¿âÊà üâï MZ ;L I;+T$ ĂŠĂĽĂ&#x;Ă b- b;$TE 9lTGTD_LWD*.Z<.V<+T$>[ -TD_CYgO_:O$ TI_% TCT b;M O*=ER-ZC'5R$EEC$TE 'Z5LTCTE8MT 'lT7O<%O*'lT8TC_MG T;Wh`GR'lT8TC7 T*eOW$ CT$CTDc6 b;M;S*LYO_G C;Wh9Wg8[$OO$`<<CT _@YgObM % OC[G_-V*GX$$S<'Z5 50 | B o a r d r o o m

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chart your journey to the room at the top. If you want to get on a board your journey starts here. Know what you are signing up to and enjoy the ride. Find out, for example: What Heather Rabbatts, the most powerful woman in football, thinks about being the first woman on the board of The Football Association. Which leaders do women on boards get their inspiration from and why. How Paula Vennells, the Ceo of the Post Office, one of the largest organisations in the Uk, achieves her work/life balance. How Fiona Cannon at Lloyds Banking OD T _@W D *;Sg * _,D_@Yg O EObM < OE 6 OO$ Group will achieve 40% gender diversity 7TCMT'Z5 `7 +*G*CYO6lT_;V;$TE7TC'ITC at senior level by 2020. How Toni Belcher, =ETE8;T%O*'Z5 +VGG +RbM 'lT`;R;lT'Z5c= Partner at Mhbc, cuts male tittle tattle when 9WGR%Sh;9WGR7O; she walks into the boardroom. Find out the ÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞ answers to these and many more questions, This column IOD would like to recommend designed to give you an insight. two books that directors should read.

Âœ šĂ—Ă†ĂŽĂ™Ă˜ ÔË ­ĂŽĂŒĂ?Ă‘Ăž ¸ĂšĂˆĂˆĂŠĂ˜Ă˜Ă‹ĂšĂ‘ ŸÔÒÊÓ ÔÓ §Ă”Ă†Ă—Ă‰Ă˜Â&#x; ÂťĂŽĂŠĂœĂ˜ Ë×ÔÒ Ă™Ă?ĂŠ ÙÔÕ ÆÓÉ Ă?Ă”Ăœ ÙÔ ĂŒĂŠĂ™ Ă™Ă?ĂŠĂ—ĂŠ By Yvonne Thompson Coined as “the board woman’s bibleâ€?, 7 Traits of Highly Successful Women on Boards - views from the top and how to get there is an essential read for women on boards, and those aspiring to get there, not only in the private, but also public, charity and SME sectors. It delves into the hearts and thoughts of 22 highly successful women on corporate boards in the UK, sharing gems of advice, tips, traits and their essential characteristics that will help you

ªÆ×Ó žĂ”Ú× ¸ĂŠĂ†Ă™ ÔÓ Æ ¨Ă”×ÕÔ×ÆÙÊ §Ă”Æ×ÉÂ&#x; Âœ ÂŚĂˆĂ™ĂŽĂ”Ă“Ă˜ šĂ” §ĂšĂŽĂ‘É žĂ”Ú× ¨Ă†Ă—ÊÊז ªÑÊÛÆÙÊ žĂ”Ú× ÂąĂŠĂ†Ă‰ĂŠĂ—Ă˜Ă?ÎՖÆÓÉ ÂŞĂ?ÕÆÓÉ žĂ”Ú× ÂŽĂ“Ă‹Ă‘ĂšĂŠĂ“ĂˆĂŠ by Jill Griffin Corporate board seats are scarce and competition is fierce. In Earn Your Seat on a Corporate Board, Harvard Business School “Working Knowledgeâ€? author Jill Griffin equips you with the seven actions that find and win you the ideal seat. This book is told through the eyes of seasoned directors and packed full of real-world case studies, detailed examples, and powerful how-to’s. Don’t sit passively waiting for a corporate board to find you. Take action on your ambition. Jill will guide you step-by-step.

Board Activities

ÂŤĂ†ĂˆĂŽĂ‘ĂŽĂ™Ă†Ă™Ă”Ă—Ă˜ ŠĂ†Ăž ú™úšÚÂ?

_CYgOIS;9Wg ° $S;DTD; ¯²³Ž Ă†ĂŒĂ c6 +S6*T;IS; ĂƒĂžĂ ĂŚĂŠĂŚĂąĂžùÏïð à ÞÜ ¯¯­Ž¾ LlTMES< ãÞà ÌÊÌùÞùÏïð %O* ÑüÞÌ Ă†ĂŒĂ BTDb7 MSI% O _L ;9T*9WgCWIVIS4;T$TE%O* '5R$EEC$TE ¡ $TE_=GWgD;`=G*<9<T9%O*'5R$EEC$TEb;DZ9:JTL7E 5 Ă†ĂŒĂ ĂŠâêĂ&#x;âïð Ă?Ă­Ăžà ⊠_$KEIVG_G+ .Xg*<EEDTDa6DOT+TED <EE+* +V77 `+ *`GR6EÂŤ;=$E5 $GVg;9O* ÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞ On September 3rd , 2018 organized Facilitators Day 2/2018 for Thai IOD facilitators in the Topic of The Evolving Journey of the Board Series: Board’s Changing Role in Strategy at IOD Members Space, Gaysorn Village which presented by Ajarn Banchong Chittchang and Dr. Noppakorn Klinthong.

¨¡ ŸÔ×Ă?Ă˜Ă?ÔÕ ú—Ý™úšÚÂ? òªĂ“Ă?Ă†Ă“ĂˆĂŽĂ“ĂŒ ÔÔÉ ¨Ă”×ÕÔ×ÆÙÊ ÂŹĂ”Ă›ĂŠĂ—Ă“Ă†Ă“ĂˆĂŠ Ă‡Ă†Ă˜ĂŠĂ‰ ÔÓ ¨¡ ¸ĂˆĂ”Ă—ĂŠĂˆĂ†Ă—Ă‰Ăł

Ă†ĂŒĂ E IC$S<7GT6MGS$9ES@D `M *=ER_9Jc9D c6 +6S *T; ÀÄĂ? Ă”ÏïèðüÏí 'ESh*9Wg ÂŻ `GR ° Ă‚ĂŤĂĽĂžÍà ÌÍä Ă„ĂŹĂŹĂĄ ÀÏïíÏïÞùâ Ă„ÏóâïÍĂžÍà â Ă&#x;Ăžðâå ĂŹĂŤ ÀÄĂ? Ă?à Ïïâà Þïå _;YgO*+T$CW>[ L;b+_= ;+lT;I;CT$ b;IS;OS*'TE9Wg ÂŽÂŽ `GR ÂŻÂł $S;DTD;9Wg> T;CT 5 OT'TEL8T<S;IV9DT$TE7GT69Z; ÂŻ `GR OT'TE7GT6 MGS$9ES@D Q _@YgObM 'ITCE[ _$WgDI$S<a'E*$TE ÀÄĂ? `GR-Wh`+*MGS$_$53 $TE LlTEI+a'E*$TE ÀÄĂ? a6D'Z5IWEIEE5 CS;;TBV;S;9 EO*>[ - ID$EEC$TE >[ OlT;ID$TEÂŞIV+SD`GR;aD<TD 6EÂŤ8;OCJS$6Vk LZIEE5; OD 9Wg=EX$KT a'E*$TE LlTEI+$TE$lT$S<6[`G$V+$TE<EVKS9+69R_<WD;c9D `GR;T*LTIC5W C5W`L* >[ _-WgDI-T‰$TEIV+SD ÀĪIV+SD`GR;aD<TD Ă†ĂŒĂ a6DCW>[ E IC*T;EIC9Sh*LVh;$I T ¹­­ 9 T; ÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞ IOD and the Stock Exchange of Thailand organized the 2nd and the 3rd CGR Workshops under the topic “Enhancing Good Corporate Governance based on CGR Scorecardâ€? on the 11th and the 26th of September 2018 at the Capital Market Academy Building 2 and the SET Building. The workshops were meant to provide knowledge on CGR program and clarify the CGR survey criteria by Mrs. Wirawan Munnapinan, Assistant Vice President- Research and Policy, Dr. Thanomsak Suwannoi, Consultant on Corporate Governance Survey of Thai Listed Companies, and Ms.Manee Maneesang, CG Research and Policy expert. There were over 400 participants.

52 | B o a r d r o o m

Œ¸ªŒ³ • Ăť ÂłĂŠĂœ ²ĂŠĂ‰ĂŽĂ† ÂŤĂ†Ă’ĂŽĂ‘ĂŽĂ†Ă—ĂŽĂ˜Ă†Ă™ĂŽĂ”Ă“ ÂľĂ—Ă”ĂŒĂ—Ă†Ă’Ă’ĂŠ

_CYgOIS;9Wg Žª² $S;DTD; ¯²³Ž $ECLTE;V_9J $ER9EI*$TE 7 T*=ER_9J c6 +6S a'E*$TE_LEVCLE T*'ITCLSC@S;: 96gW `W GR_'EYO% TD $S<LYgOCIG-;+T$=ER_9JLCT-V$OT_.WD;`GR=ER_9J<I$LTC ÂĽ+W; ‰=Wg ;Z _$TMGWb7 ÂŚ a6DCW<GfO$_$OE `GRLYOg OO;cG; +T$=ER_9J OT_.WD; `GR+W; ‰Wg=Z ; _$TMGWb7 _% TE IC b;IS;LZ69 TD%O*a'E*$TE '5R>[ `9;c6 _% T_DWgDC-C Ă†ĂŒĂ ĂŠâêĂ&#x;âïð Ă?Ă­Ăžà â _@YgOLEZ=>G$TE =ER-ZC $V+$EEC;Wh_= ;$TEEIC7SI$S;%O*>[ =ER$O<$TELYgOCIG-; `GR>[ CWOV9:V@Gc9D`8IM; T @E OC9Sh*<GfO$_$OE -Sh;;lT%O* ĂŠĂƒž b;*T;LSCC;T`<<_= ;$S;_O* _@YgO`G$_=GWgD;'lT`;R;lT 'ITC'V6 `GR=ERL<$TE5 $S<'5R>[ _DWgDC-C a6DCW'Z5@VK5Z @EMC+EEDT 9Wg=EX$KT Ă†ĂŒĂ E IC_= ;M;Xg*b;>[ <EEDTD6 ID ÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞ On 1 - 5 September 2018, the Department of Information, Ministry of Foreign Affairs of the Kingdom of Thailand, organised the ASEAN + 3 New Media Familiarisation Programme, with participation of top bloggers and media influencers from ASEAN, as well as from China, Japan, and the Republic of Korea. The last day of this programme, the delegation visited IOD Members Space for wrap up session which gathered together leading Thai new media entrepreneurs and influencers, along with MFA’s very own top bloggers in an informal seminar to share their suggestions, ideas, and exchange experiences with the visiting delegation. Mr. Phisanu Phromchanya, Public Relations Consultant, Thai IOD was the one of speakers for this session.

ÂŤĂ†Ă—ĂŠĂœĂŠĂ‘Ă‘ ¾Æ×ÙÞ ËÔ× ŠĂ—˜ §Ă†Ă“ÉÎÉ ³ÎĂ?ÆÙĂ?Ă†ĂœĂ”Ă—Ă“

_CYgOIS;9Wg ÂŻÂł $S;DTD; ¯²³Ž Ă†ĂŒĂ c6 +S6*T;_GWhD*%O<'Z5bM $S< 6EÂŤ<S53V7 ;V+8TIE 9Wg'E<ITER$TE9lTM; T9Wgb;7lT`M; *$EEC$TE >[ OlT;ID$TE 5 Ă€ïÜðùÞÊ ¿Ïþ Ă„ĂžÜðÏïÍ Ă“ĂŚĂŠĂŠĂžäâ a6DCW$EEC$TEb;O6W7 `GR= ++Z<S; EIC9Sh*>[ <EVMTE Ă†ĂŒĂ c=E IC*T;$S;OD T*O<OZ ;$I T ¯­ 9 T; `GR- I*Â†ĂˆĂ?´IS;JZ$E 9Wg ÂŻÂľ $S;DTD; IV9DT$E Ă†ĂŒĂ @E OC9Sh*LCT-V$ Ă€Ă‚ĂŒ Ă€ÊòĂ&#x; c6 E IC+S6*T;_GWhD*OlTGTbM $S< 6EÂŤ<S53V7 9WgE T; ÀÊÞððÌà ¿âÊÊ LZ%ZCIV9 ÂŻÂł OD T*O<OZ ; ÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞ On 26th September 2018, IOD held a farewell party for Dr. Bandid Nijathaworn who completed his term in office as a CEO at the Crystal Box Gaysorn Village. More than 20 of the boards and IOD executives warmly joined the party. Additionally, on Friday evening, IOD experts and CEO club members also held a farewell party for Dr. Bandid at the Classic Bell, Sukhumvit 26.

B o a r d r o o m | 53

Member Corner

MEMBER CORNERR MEMBERCORNER b;'OGS C ; ;Wh _ ET%O`L6*'ITCDV ; 6W $S < _MG TJVKD _$ T`GRJVKD =+ +Z<;S %O* ÆÌÁ 9W7g <_9 T $S;%Xh;ES<ET*ISG+T$MGTDO*' $Eb;MGT$MGTD `%;* _EVgC7 ;6 ID'Z5-T7DT LZ@EE5@*J =ER:T;_+ TM; T9Wg<EVMTE <EVKS9 A[ 6`@--Sg; 9Wg 'I TET*ISG9WgLZ6`M *LZ6DO6;TD+ T*6W_6 ;`M *= ¯²³® .Xg*+S6a6D_OOO; PVIIV9 E IC$S<L8T<S; <S53V7<EVMTE:ZE$V+JJV;9E • 'Z5+WE@S;: OSJIR:;$ZG ¥Á¾Í ®°¦ =ER:T;_+ TM; T9Wg<EVMTE `GR$EEC$TE>[ +S6$TEbM <EVKS9 =ER$S;BSD c9DIVIS4; +lT$S6 ¥CMT-;¦ %Xh;ES<ET*ISG LE T*LEE' ;IS7$EEC_9'a;aGDW6 T;=ER$S;BSD 6W_6 ; b;*T; ÑžÆɾËÁ ÆËÐÒϾËÀ ÂÕÍÌ ¯­®µ .Xg*+S6a6DLlT;S$*T;'5R$EEC$TE$lT$S< `GRL * _LEV C $TE=ER$O<:Z E $V + =ER$S ; BS D ¥'=B«¦ • 'Z55 T5W _>YO$%lT ¥ÁÀÍ ¯¯®¦ $EEC$TE>[ +S6$TE <EVKS9 ODZ:DT `'== 7OG _.OE IVL_.L +lT$S6 `GR;TDO:VJ EZ+VEIS4; ¥ÁÀÍ ¯®°¦ $EEC$TE>[ +S6$TE <EVKS9 _+_;OESG 'TE 6 _.OE IVL_.L +lT$S6 _= ;7SI`9;ES<CO< ET*ISG>GV7BS53 LV;_-YgOL I;<Z''G6W_6 ;`M * =ER_9Jc9D `GRET*ISG<S7E_'E6V76W_6 ; +T$ _I9W Ñåâ ¾ðæÞë ¿Þëèâï · ÑåÞæéÞëá Àìòëñïö ¾ôÞïáð ¯­®µ 9Wg+S6a6D Ñåâ ¾ðæÞë ¿Þëèâï ;V 7 DLTE$TE_*V ; $TE:;T'TE-Sh ; ;l T b;_O_-W D • ;T*BVCGBT LS;7Va-' EO*>[ +S6$TEbM OTIZaL >[< EVMTEL[*LZ6 ÀìêêâïàæÞé ¿Þëèæëä Ðìéòñæìëð ¥ÁÀÍ ¯°®¬¯­®³¦ `GR ;T*+S;9E _@f +S;9;T >[ OlT;ID$TE>[ <EVMTELTD ÐìàæÞé ÊâáæÞ £ ÁæäæñÞé Àìëñâëñ Áæóæðæìë _= ;>[` 9;:;T'TEc9D @T5V-D _% TES<ET*ISGET*ISG Ñåâ ¿âðñ ¿ïÞëàå ÁæäæñæðÞñæìë ÆëæñæÞñæóâ© Ñåâ ¿âðñ ¾ÍÆ ÆëæñæÞñæóâ `GR Ñåâ ¿âðñ Ãïæàñæìëéâðð ÐìàæÞé ÊâáæÞ ÆëæñæÞñæóâ b;*T;_6WDI$S; • 6EªIV-SD 5E*' I5V-Dk ¥Á¾Í ®¯¯¦ >[ - ID$EEC$TE>[ +S6$TE :;T'TE $LV $ Ec9D_= ; >[ ` 9;:;T'TEES < ET*IS G $TE @S 4 ;T_9'a;aGDW _ @Yg O =ER_CV ; $TEbM LV ; _-Yg O DO6_DWgDC • ;TD`@9D IV_-WDE `@9DT;S;9k ¥ÁÀÍ®¯±¦ =ER:T;_+ TM; T9Wg<EVMTE <EVKS9 _+ T@ERDTCMT;'E +lT$S6 ¥CMT-;¦ ES<CO< ET*ISG Ôæëëâï · ¿âðñ ¾ããìïáÞßéâ Àìëáì ¾ïàåæñâàñòïÞé Áâðæäë ¥¿Þëäèìè¦ ET*ISG -;R_GV J 'O;a6CV _ ;W D C6 T ;$TEOO$`<< L8T= 7D$EECDO6_DWgDC ¥$EZ*_9@Q¦ `GRET*ISG

Mrs. Chataya Supanpong

Mr. Pakdee Anivat

Mr. Wichian Pattayanunt

Mr.Jiraphant Asvatanakul

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54 | B o a r d r o o m DCP 222

Ñåâ ËìªãÞáð© ÅâÞïñªìãªñåâªÊÞññâï ÃÞàñð Öìò Ëââá ñì Èëìô _%WD;a6D ¿Þïïö Íìðëâï Þëá ÇÞêâð Ê« Èìò÷âð _@YgObM _@YgO;LCT-V$ CTO T;$S;c6 9WgM O*LCZ6 ÆÌÁ Êâêßâïð ÐíÞàâ 5 ÄÞöðìïë ÓæééÞäâ 8 T9 T;b6CWM;S*LYO6We 9Wg O DT$+R`< * = ; bM _ @Yg O ;LCT-V $ c6 O T ; LTCTE8CO<c6 9Sh*9Wg ÆÌÁ MEYO ÆÌÁ Êâêßâïð ÐíÞàâ _GD $ O;+T$$S;%O?T$BT@<EEDT$TJ$TE _GWhD*,GO* ÁÀÍ EZ ;7 T*e 9WgDS*;S6_+O$S;OD[ OD T*7 O_;YgO* OT9V EZ ; ¯© ¯®­ `GR ¯²° 9T* ÆÌÁ 6Wb+9WgJVKD _$ T ÆÌÁ DS*L;V9$S;OD T*_M;WDI `; ; `GROD TGYC-I;$S;CT_% TE IC$V+$EEC 7 T*e %O* ÆÌÁ 7 Oc= ªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªª

MEMBER CORNER Boardroom would like to congratulate IOD alumni and members for receiving many awards in various areas, starting with • ²×Ø ¨ÍÆÙÆÞÆ ¸ÚÕÆÓÕÔÓÌ, Chief Executive Officer of Food Passion Co, received the Best of the Best Employers awards 2018 hosted by Aon Hewitt and Sasin School of Management. ²× ¯Î×ÆÕÍÆÓÙ ¦ØÆÛÆÙÆÓÆÐÚÑ (DAP 13), CEO and President of Thai Vivat Insurance Plc., won the Innovation in Insurance Technology awards at the Thailand Insurance Expo 2018 organized by the Office of Insurance Commission. ²Ø ³ÆÞÆÓÊÊ µÊÆÚÌÐÍÆÒ (DCP 221), Managing Director of Ayudhya Capital Services Co., Ltd. and ²× ¦ÙÎØ ·ÚÈÍÎ×ÆÜÆÙ (DCP 213), Managing Director of General Card Services Co., Ltd., as representatives, received the Consumer Finance Product of the Year and the Credit Card Product of the Year awards from The Asian Banker: Thailand Country Awards 2018 organized by the Asian Banker, a leading finance magazine in Asia. ²Ø µÎÒÔÑÕÆ ¸ÚÓÙÎÈÍÔÐ, Senior

Vice President, Commercial Banking Solutions (DCP 231/2016), and ²Ø ¨ÍÆÓÕÊÓ ¨ÍÆÓÙÆÓÆ, Executive Director, Social Media & Digital Content Division, as representatives of Siam Commercial Bank PLC., received the Best Branch Digitisation Initiative, the Best API Initiative and the Best Frictionless Social Media Initiative awards. ©× ¼ÎÈÍÆÎ ³Æ×ÔÓÌÜÆÓÎÈÍ (DAP 122), Assistant Managing Director of Kasikorn Bank, as a representative, received the Best Credit Evaluation Initiative awards. ²× ¼ÎÈÍÎÆÓ µÆÙÙÆÞÆÓÚÓÙ, the CEO of Chaopraya Mahanakorn Public Company Limited was the winner of the Best Affordable Condo Architectural Design (Bangkok) awards and Highly Commended: Best Condo Interior Design (Bangkok) awards. • ²× °ÎÙÙÎÕÆÓ ¸×Î §ÚÆ ®ÆÒ (DCP 261), Chairman of Proimage Engineering & Communication Co., Ltd., won the best SME awards at the 10th SME National Awards organized by the Office of Small and Medium Enterprises Promotion (OSMEP). ²× µÆÐÉÊÊ ¦ÓÎÛÆÙ (DCP 125),Chairman

and the founder of Storage Asia Company Limited, won the best SME Start up awards. Additionally, we would like to thank ²× ²ÆÓÎÙ ±Ê×ÙØÆÐÔ×ÓØÎ×Î (DCP 11) for giving interesting books including Can Japan Compete? by Michael E. Porter and The Truth about Leadership: The No-fads, Heartof-the-Matter Facts You Need to Know by Barry Posner and James M. Kouzes to the IOD shared reading project, so that our members could read them at the library at the IOD Members Space, Gaysorn Village. If you would like to share your books, you may contact both the IOD office and the IOD Members Space. We would like to end this column with photos show parties to celebrate friendship among different IOD batches such as batch 2, 210, and 253. We are glad that our alumni still have tight bonds, and do not forget to join our next activities. ---------------------------------------------------

DCP 2

Ms. Nayanee Peaugkham & Mr. Atis Ruchirawat

Mr. Wichai Narongwanich-Award

DCP 210

Mr. Kittipan Sri-Bua-Iam

Ms. Pimolpa Suntichok

Mr. Manit Lertsakornsiri

DCP 253

B o a r d r o o m | 55

Welcome New Member

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