Boardroom Vol. 2/2019: Future of the Board in Global Perspective

Boardroom

Vo l . 6 3

Exclusively For Company Directors

Issue 02/2019 | ISSBN 1513-61755

Future of the Board in Global Perspective

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HVAC SYSTEM

SANITARY SYSTEM ELECTRICAL SYSTEM FIRE PROTECTION SYSTEM

SPECIALIST IN M & E ENGINEERING SYSTEMS

Mega Planet Co., Ltd.

38/248, 38/416 Moo 1, Tambon Klongnueng, Amphur Klong luang, Patumthani 12120 Tel. 02-986-5880-1 Fax. 02-986-5882 Web site: www.megaplanet.co.th

ǩLj˥ːǣǒǬLjǭǣƮǥǗǟǏǨǏǥƿǟ˟ǎˡǘǏljǏǥƿǥư˟ǩǚƮɔǟˮdžǎǃˍƮǏǥƿɔșȜȝș

ƽǣǟǏǨǣǒǁ˙džǏǒǟǏǨǩǐǏƻ ˠ DŽˑǑǛǩƮǖˑǥDŽˑǑǛƮǏǨǠljˏǣlj ƽˑǥǟǏǨǟˮdžǎǩǐˑǥ ǁNjǨƮǏǏljƮǥǏ ǜ˰ˑǘǏ ˠǠǥǏǪǖǨǟLjˍƮǒǥLj ǗljǥǁljǗˏǒǩǗǏ ˠljǗƯǥǘˍLjƮǏǏljƮǥǏǘǏ ˠǚˍdžǫdžǛ

Content

ÂŁÂŽĂˆÂ ÂźÂźÂşÂ ĂŠÂź

Board of Directors

Â´ÂźĂˆÂąĂŠÂ˛Â ĂŒÄłÄłĂŒÂşÄšĂ‰Â Ä˛ĂŒĂ

Honorary Chairman

Äš ĂƒĂŒÂźĂ‰ÂŠ ŸIJĂ?̟Ă?

Prof. Hiran Radeesri

Äš IJŸ Ă–Â Ă€ĂŒÂ°ÂťÄ? Ö´à Ê²²°Ä?

Prof. Kovit Poshyanand

ÂŁĂ?ÂŽĂƒÂŠĂŒÂŚ §ªÊ Ă€Ă‰Ä´Â˛ÄšĂŒÂźĂŒÂąÂźÂźÂş

Khunying Jada Wattanasiritham

²Ê Ă”Â ÂźĂŒ Â Ă˜Â Âź ÄśĂ?ÂźĂˆĂ•ÂˇÂ°ÂťÄ?

Mr. Krik-Krai Jirapaet

Â´ÂźĂˆÂąĂŠÂ˛Â ÂźÂźÂşÂ ĂŠÂź

Chairman

²Ê Â´ÂźĂˆĂ‚Ă‰ÂŽĂƒÄ? Ô§Ă?Ă?Ă…ÂˇĂŠÂ˛ĂŒÂ§

Mr. Prasan Chuaphanich

ÂźĂ…ÂŚÂ´ÂźĂˆÂąĂŠÂ˛Â ÂźÂźÂşÂ ĂŠÂź

Vice Chairman

²Ê ´Ÿ�IJ� IJÊÀĸʝ

Mr. Predee Daochai

²ÊŒÂÊÀ ¡Ĝ²Ă?ÂťÄ? ÂąÂ˛Ă€ÂźĂŠÂ˛ĂŒÂ§

Ms. Potjanee Thanavaranit

 ŸŸº ÊŸ¾ÑĊÅĝʲÀ ÊŸ

CEO

²Ê Ă?žÔÀ§ Ă”ÄśÂ˛Ă€Ă‰Ä´Â˛Ă€ĂŒÂ°ÂťÄ?

Mr. Kulvech Janvatanavit

 ŸŸº ÊŸ

Director

Äš ÂˇĂŒĂ”ÄšĂ Â ĂŒÄłĂŒÂˇÂŚÄšÄ? Ă…Ă?Ÿ¡Ă?¡ÉĴ²¡ŒĚÄ?

Prof. Kitipong Urapeepatanapong

²ÊŒ Ă˜ÂĄÄšÂźĂ? Ô²Ă?ĂœĂ…ÂŚĂ‚ĂŒÂ ÂĄĂŠĂ”ÂˇĂ?²

Mrs. Kaisri Nuengsigkapian

15

²Ê ĜŸÉº¡Ÿ Ă–Â§ÄłĂŒÂ Ă”Ă‚ÂŻĂ?Ÿ

Mr. Charamporn Jotikasthira

15

²Ê §ÉÀÉĴ²Ä? Ă…Ă?°ÉÀŸŸŽÄ?

Mr. Chaiwat Utaiwan

²ÊŒ ²Àž¡ŸŸŽ ÂžĂœÄťĂŠÂ¨ÄťĂŠ

Mrs. Nualphan Lamsam

²Ê ³ŸŸĜŒ ÄśĂŒÄłÄłÄ?ÕĜĊŒ

Mr. Banchong Chittchang

²Ê Ă˜ÂˇÂłĂ‘ÂžÂťÄ? Â ĂŒÄłÄłĂŒÄšÂźĂ? ÉŒÀʲ

Mr. Paiboon Kittisrikangwan

IJŸ šÊ Ÿ Â´Ä ÄłÂąĂ€Ă‰Â§Â§Ă‰Âť

Mr. Pakorn Peetathawatchai

²ÊŒ šÉ°Ÿ�Ê Ô³ŠĜ¡ž§É

Mrs. Patareeya Benjapolchai

²Ê Ÿ¡Ă? Ă‚Ă?ÄśÂźĂŒÄłÂ Ă?ž

Mr. Rapee Sucharitakul

²Ê Ă‚Ă?¡ÉĴ²¡Œà Ä? ¡É²¹Ä?ÂşĂ?Ô§ÊÀÄ?

Mr. Supattanapong Panmeechaow

ÂŁÂŽĂˆÂľĂ‘ÄŠÄśĂ‰Ä˛Â°ÄťĂŠ ÔĜĊʥŌ

Owner

Ă‚ÂşĂŠÂŁÂşĂ‚Ä‰ÂŚĂ”Ă‚ÂźĂŒÂşĂ‚ÂŻĂŠÂłĂ‰Â˛Â ÂźÂźÂşÂ ĂŠÂźÂłÂźĂŒĂ Â° É Ă˜Â°Âť

Thai Institute of Directors Association

35

Â Ă…ÂŚÂłÂźÂźÂŽĂŠÂąĂŒÂ ĂŠÂź

Editorial Team

31

²ÊŒÂÊÀ ÄšĂŒÂźĂŒĂ€ÂźÂźÂŽ Â ÂşÂžĂ€ĂŒĂ”Â§Ă?Ÿ

Ms. Siriwan Kamonwichian

²ÊŒ Ă€ĂŒĂ˜ÂžÂźĂ‰ÄłÂ˛Ä? Ô²Ċ²ÕŒ¹ŸŸº

Mrs. Wilairat Nensaengtham

²ÊŒ Ă€Ă?ŸÀŸŸŽ ÂşĂ‰Â˛Â˛ĂŠÂšĂŒÂ˛Ă‰Â˛Â°Ä?

Mrs. Wirawan Munnapinun

²ÊŒÂÊÀ Ă‚ĂŠÂźĂŒÂŽĂ? ԟĂ?Ō£ŒÔ Ă?ÂťÂźÄłĂŒ

Ms. Sarinee Ruangkongkiat

²ÊŒÂÊÀ Ă‚Ă?Â°ÂąĂŒÂ˛Ă? Ă”Â ĂŒÄ˛Â§Ä‰Ă€Âť

Ms. Suthinee Kerdchuay

Boardroom

Vo l . 6 3

Exclusively For Company Directors

Issue 02/2019 | ISSBN 1513-61755

Vol. 63 Exclusively For Company Directors

Future of the Board in Global Perspective

Issue 02/2019

ISSBN 1513-61755

Board Welcome CEO Reflection Cover Story

Australian Governance Summit 2019: Rising to

the Moment !N@QC !QHDĹ°MF Unleashing Blockchain in Finance and Beyond Board of the Year Board Development From “Leadershipâ€? to “Stewardshipâ€?: Future Role of the Boards How Building a Coaching Culture Can Help Boost YourCompany’s Performance Issues that Board of Directors Should Pay Attention to in the IT Era Anti-Corruption Update Anti-Corruption in Practice No Gifts‌.No problems‌..

Board Review Board Activities Member Corner Welcome New Member

ÀÉij¯Ă?Â´ÂźĂˆĂ‚ÂŚÂŁÄ?

ĔÜÄ?ÄœÄ…Ä”ĂłĹ¤ĂąĂ™ÄŠĂťÄ”Ă´ĂşÄ•ĂśĂťĹœÄ”Ă™Ä?ÄœĂşĂżĂ™Ä‰Ă˛Ă™ÄŠĂťĂ™ÄĄÄŠĂ™Ä‰Ă˛ĂŹÄ‘Ä•Ă˝Ă™ÄŒĂ Ă™ÄŠĂťĂŻÄ?ÄœĂŹÄ?ėăĹ?Ă™Ä‰Ă˛Ä‚ĂšÄŠĂ˘ÄŒĂ™Ä‚ĂšÄŠĂœĂšÄ‡

ĔÜÄ?ÄœÄ…Ä”ĂłĹ¤ĂąĂ™ÄŠĂťÄ”Ă´ĂşÄ•ĂśĂťĹœĂšĹ?Ä…ĂšÄ‘Ă˝Ă™ÄŒĂ Ă™ĂťĂťĂšĂšÄ…Ă&#x;Ä‚ĂšÄŠĂœĂšÄ‚ĹœĂ&#x;Ä”Ä‚ĂťÄŒĂšÄ‚ĂŽÄŠĂ˛Ä‰ĂąĂ™ĂťĂťĂšĂ™ÄŠĂťĂ˛ĂťÄŒÄ Ä‰ĂŻÄ˜ĂŻĂş

ėăĹ?Ă™Ä‰Ă˛Ä‚ĂšÄŠĂ˘ÄŒĂ™Ä‚ĂšÄŠĂœĂšÄ‡

ĔÜÄ?ÄœÄ…Ä”ĂłĹ¤ĂąĂ™ÄŠĂťÄ”Ă´ĂşÄ•ĂśĂťĹœĂ˛ĂŻĂœĂżÄŠĂšÄ•Ă˝ÄˆĂ™ÄŒĂ Ă™ĂťĂťĂšĂšÄ…Ă&#x;Ä‚ĂšÄŠĂœĂšÄ—ÄƒĹ?Ä‚ĂšÄŠĂ˘ÄŒĂ™ĂťÄ‰Ă˛ĂŻĂťÄŠĂ˛

Ä‚ĂťÄ?ĂłĂłĂťÄˆÄ”ĂŹÄ›ĂąĂŹĹ?ÄŠĂąĂ™ĂŚÄƒĂšÄŠĂş Ă™ĂŚĂťÄˆÄ”Ă˛Ä?ĂşĂ˛Ä—ÄƒĂšĹœÄš ĂŻÄ?ÄœÄ”Ă™Ä?ÄœĂşĂżĂšĹ?Ä…Ă&#x;Ă™Ä‰Ă˛Ă™ÄŠĂťĂŻÄĄÄŠÄƒĂąĹ?ÄŠĂŻÄ?ÄœĂ™ĂťĂťĂšĂ™ÄŠĂť

06 08

20 20 23 27 27 30 28

38 40 40 44 46 48 52

Ă‚ÄťĂŠÂ˛Ă‰Â ÂŚĂŠÂ˛ÄłĂŒÄ˛ÄłÄ‰Ă…

Contact

Åʣʟ Àij° Åʣʟ §É�²

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

ĂƒÂşĂ‘Ä‰ Ö£ŸŒ ÊŸ²ÅŸÄ?¹´ÊŸÄ?ÂŁ

Northpark Project,

ÂŻÂ˛Â˛Ă€ĂŒÂšĂŠĂ€Ä˛Ă?ÂźĂ‰ÂŚĂ‚ĂŒÄł Õ¥ÀŒ°Ă?Ä‰ÂŚĂ‚Ă…ÂŚĂƒÄŠĂ…ÂŚ

Vibhavadi-Rangsit Road,

Ă”ÂĄÄłĂƒÂžĂ‰Â Ă‚Ă?Ăœ  ŸĂ?ŒÔ°¡Ç

Thungsonghong, Laksi, Bangkok 10210

Ö°ŸĚÉ¡°Ä?

Tel: (66) 2-955-1155

Ö°ŸÂʟ

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

E-mail: sarinee@thai-iod.com,

E-mail: sarinee@thai-iod.com,

suthinee@thai-iod.com

suthinee@thai-iod.com

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

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

Facebook: @ThaiIODFan

Facebook: @ThaiIODFan

Linkedin: ThaiIOD

Linkedin: ThaiIOD

Line: @ThaiIOD

Line: @ThaiIOD

Board Welcome

BOARD WELCOMES

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ethics. Moreover, our members also had an opportunity to visit and exchange views with many directors in Sydney. You may find more details in the cover story column.

In CEO Reflection column, Mr. Kulvech Janvatanavit, the CEO of IOD, wrote a summary on five global trends which may affect the organization that directors should know in order to allow directors to question and consider filling them in the agenda in the board meeting effectively.

Additionally, there is an article on unleashing Blockchain in Finance and beyond which Dr. Paul Sin, Partner at Deloitte Consulting, Leader of Deloitte Asia Pacific Blockchain Lab, discussed different real-time cases in Asia. You may broaden your perspective on this issue in Board Briefing column.

First of all, IOD would like to say â&#x20AC;&#x153;Happy Thai New Yearâ&#x20AC;? to all of our members. We hope Lastly, we have a column which allows our you all can spend your Songkran holiday on members to review knowledge in various aspects. The board development column traveling and relaxing. talks about roles of directors in the future, In this edition of Boardroom, we would creating a coaching culture and how it can like to talk about â&#x20AC;&#x153;Future of the Board in stimulate the companyâ&#x20AC;&#x2122;s performance, Global Perspectiveâ&#x20AC;? as we held an annual and other issues that the board should pay international trip for our members to attend attention to in the IT era. the Australian Governance Summit 2019 organized by the Australia Institution of Director in Sydney at the beginning of March. The topic of the summit was â&#x20AC;&#x153;Rising the Future Momentâ&#x20AC;? which focused on the roles of directors, society, technology and

We hope that this Boardroom will be beneficial and knowledgeable. If you wish to share your articles with other members, please send them to suthinee@thai-iod.com.

Editor

6 | Boardroom

CEO Reflection

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Dr. Tanai Charinsarn

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Boardroom | 9

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For this issue of Boardroom magazine, one of the most important duties among the board members and the directors is reviewing and finding answers for any new challenge that may have an impact on corporate business strategy. Thai Institute of Directors held a seminar on the topic â&#x20AC;&#x153;Year of the Pig â&#x20AC;&#x201C; 5 trends that Board should knowâ&#x20AC;? on February 27 at IOD Member Space. The activity was aimed at enabling directors and board members to raise questions or consider appropriateness of agendas within the Thai context.

Dr. Tanai Charinsarn, IOD facilitator for the Strategic Board Master Class, was a guest speaker for the session. He shared the impact of the following nine global trends on corporates: cyber security, technology disruption, ESG, diversity, board education, CEO succession, consumer engagement , crisis management and transparency. Board members participating into the seminar were requested to help vote for five important trends that were related to Thai business.

Here is the result. ĂšÂ&#x2DC; šĂ&#x160;Ă&#x2C6;Ă?Ă&#x201C;Ă&#x201D;Ă&#x2018;Ă&#x201D;Ă&#x152;Ă&#x17E; ŠĂ&#x17D;Ă&#x2DC;Ă&#x2014;Ă&#x161;Ă&#x2022;Ă&#x2122;Ă&#x17D;Ă&#x201D;Ă&#x201C; â&#x20AC;&#x201C; the buzzword that is often heard, but many still do not understand technology disruption correctly.

Disruption occurred due to technology.

Nong Mon market is an evident case study.

The market is disrupted by motorway construction diverting the main driving route bypassing the market. People do not stop by and shop at Nong Mon market like what they used to do. It does not mean that customers choose to shop at other markets having higher technology. This is all about changing business strategy. Any players lacking qualifications are disqualified. Their businesses can only make a comeback when they can create a new game. Directors may not need to look for disruption trend

by themselves but will have to encourage executives to be vigilant about external factors such as a. What is the technology used by others that can outplay our business? b. To what extend has the corporate monitor consumer behavior? Is the data stored in a high-quality format that gives convenience for retrieving to analyze consumer behavior? c. What was the latest innovation the corporate initiated during the past three years, compared to other competitors? ú ¨ÞÇÊ× ¸ÊÈÚ×ÎÙÞ – the issue has become an increasing concern among directors.

However, many still cannot hit the nail on the head when it comes to minimizing cyber security risk. They cannot identify different dimensions that the corporate should be keeping a close watch. Hospital business is among an example. Patients’ records are crucial and must be kept confidential. Any misinformation about treatment or medication could affect patients’ conditions. Any leak of information could also cause negative impact on the hospital business. If the directors understand the risk of cyber

security, they can ask the executives questions about control system needed such as the principle of medical doctors, nurses and health professionals to keep patients’ records confidential through data record, storage and access. Hence it is important for the directors to understand the risk of cyber security relating to the business and instruct the executives to keep monitoring on situations from around the world and always report to the directors. In addition, the directors should also evaluate themselves if they can keep up with the following facts.

different has become increasingly challenging.

Multinational corporates have adopted technologies to meet consumers’ need, for example Nike using technology to read wearers’ foot sizes. Who knows in the future, sports shoes can even be designed to measure development of different athletes. For example, moving speed, jumping height etc. Consumers’ big data has become a tool for the corporate to wing consumers’ attention. Creating inspiration for buyers to feel bond to the brand.

Trust in the corporate brings sustainable difference. Consumers want to know producers’ standpoint in consumer’s information protection and their social and environmental vigilance. The corporate standpoint will happen when the directors and the executives work together to create in-depth understanding on purpose and identity regarded as the beacon of business operation, attracting consumers and leading to income instability.

a. What is cyber threat relating to the business ? For example, client’s information that is stolen or disclosed. b. What is the role of the directors in regulating cyber security? c. To what extend the board has realized about or are aware of cyber-related aspects in the business. d. Establishing corporate culture to reduce a. When was the last time the executives the risk of cyber security. had reviewed coherence of Purpose, Vision, Mission and Brand at the û ¨ÔÓØÚÒÊ× ªÓÌÆÌÊÒÊÓÙ – In the world behavioral level and strategic plan? of red ocean market competition, making a

B o a r d r o o m | 11

ing and consumption? b. Does the executive have any client data collecting system and understanding to- c. Is there any relation between risk of ESG and sustainability development? And ward consumers’ need and pain-point? how will this relation will affect corporate c. What will happen if the corporate does governance? not invest in any data system developd. How do we take part in creating ESG ment for meeting consumers’ need? expectation from different stakeholders? d. How will we co-create until we can become an advocacy for consumers? ý ¨×ÎØÎØ ²ÆÓÆÌÊÒÊÓÙ – Try imagine ü ªÓÛÎ×ÔÓÒÊÓÙ ¸ÔÈÎÆÑ ¬ÔÛÊ×ÓÆÓÈÊ ª¸¬ that you are chairman of the board who is –Environmental and social sustainability woken up in the middle of the night by as well as corporate governance are still phone calls from reporters telling a breaking seen as ‘activity’ and ‘ceremony’ rather news such as clients’ information is exposed than ‘strategy’ while institutional investors online. We are in the world that “Crisis is give importance to this matter. Information the New Normal”. This type of information disclosure may truly be an answer for all can happen all the time. But one crisis that aspects, although it may look like creating happen may change the corporate fate burdens to the executives. Making profits forever. Bad news always go faster and and growing together sustainably with the farther. The corporate should be careful society are the issue that needs to be taken with crisis that people in the social network into account, and see it as opportunities for know before the corporate. This type of all parties. The risk of ESG must be assessed crisis including stolen corporate information by analyzing the whole business processes disclosed to the public can cause legal to understand the impact of the business on lawsuit against the board. The question that the society and the environment. Directors the board should discuss and ask for an may want to select the following questions: answer from the executives is ‘how may a. Does the corporate act in compliant with the future crisis that could happen to our ESG? Have the corporate any internal company be like?’ Then the board should audit control and how does it work? also instruct the executive to seek methods b. How does the corporate find any infor- to effectively handle the situation and should mation to understand the risk of ESG, also ask these following questions relating from the production, logistics, market- to management system.

12 | B o a r d r o o m

a. How does the corporate come up with a management system for crisis forecast and evaluating any impact that may happen to the corporate and stakeholders? b. Crisis does the corporate have any system to detect risk signal and give a warning to the board and related parties before the issue will become a crisis? c. Do the board and the executive get training to prepare for situation and effective communication?

Corporate sustainability starts at the boardroom. It is essential that the directors have to understand their roles and responsibilities so that they can effectively come up with effectively corporate strategy in the Year of Pig. Things may not be as easy as pie for any corporate having no regulation or system to deal with the changing global trends that may bring business opportunities for the board to outplay the situation and make the business brows strong and sustainably.

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14 | B o a r d r o o m

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trends â&#x20AC;&#x201C; Preparing for the next cycle of changeâ&#x20AC;?; â&#x20AC;&#x153;Governance 4.0 â&#x20AC;&#x201C; Operating in the evolving governance landscapeâ&#x20AC;?; and reflecting on the Royal Commissions, Below is summary of the discussion with a focus on some of the key points.

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­Ă&#x17D;Ă&#x152;Ă?Â&#x2014;ÂľĂ&#x160;Ă&#x2014;Ă&#x2039;Ă&#x201D;Ă&#x2014;Ă&#x2019;Ă&#x17D;Ă&#x201C;Ă&#x152; Ă&#x2021;Ă&#x201D;Ă&#x2020;Ă&#x2014;Ă&#x2030;Ă&#x2DC; Ă° Ă&#x153;Ă?Ă&#x2020;Ă&#x2122;ĂľĂ&#x2DC; Ă&#x2021;Ă&#x160;Ă?Ă&#x17D;Ă&#x201C;Ă&#x2030; The Thai Institute of Directors (IOD) Chairman, Ă&#x2122;Ă?Ă&#x160;Ă&#x17D;Ă&#x2014; Ă&#x2DC;Ă&#x161;Ă&#x2C6;Ă&#x2C6;Ă&#x160;Ă&#x2DC;Ă&#x2DC;¤ directors, CEOs and IOD members, went to Sidney, Australia for the annual international trip to attend the Australian Governance Summit 2019 from 2 to 8 March 2019. IOD organizes the international trips to give its members the opportunity to share experiences and learn about interesting issues from directors in other countries. Organized by the Australian Institute of Company Directors (AICD), the Summit, was based on the theme â&#x20AC;&#x153;Rising the momentâ&#x20AC;? and brought together more than 1,400 participants AICD Chair John Atkin and Managing Director and CEO Angus Armour discussed AICDâ&#x20AC;&#x2122;s forward governance agenda They focused on four main area that constitute the duties of directors: standards and professionalism; enhancing accountability; governance, and remuneration.

The Summit was comprised of many sessions, covering a multitude of topics and themes. Among them were â&#x20AC;&#x153;Debate: The future of corporate governance in Australiaâ&#x20AC;?; High-performing boards; concurrent elective sessions; â&#x20AC;&#x153;The power of inclusion: unlocking the value in doing the right thing; â&#x20AC;&#x153;Future

In a discussion on the high-performing boards, the following messages were given: â&#x20AC;˘ The most important element in board performance is going beyond profit margins; good board performance is based on the ability to identify clarity of purpose and the beneficiaries. â&#x20AC;˘ It is important for organizations to look beyond profit margin, but they still need to identify how it is meeting its purpose and how it is measured. This is important for boards of profit and non-profit entities. â&#x20AC;˘ It is important for the board to have a good relationship with the CEO and management so that bad news can be communicated effectively. â&#x20AC;&#x153;This is where culture comes in. It is very important when boards receive information. Boards set the tone for how management will come to the board with bad news.â&#x20AC;?

Specifically, regarding attaining good measure of an organizationâ&#x20AC;&#x2122;s culture. The following suggestions were given: â&#x20AC;˘ Conduct surveys as frequently as every six weeks and note well the behavior of the CEO. â&#x20AC;˘ Review how customer and employee B o a r d r o o m | 17

complaints are handled. Complaint can’t answer with the best question to ask registers and social media are platforms is should we do this – not could we do this? for tracking and measuring customer he said. satisfaction Dr. Finkel then went on to explain that ¹ÍÊ ÎÓÓÔÛÆÙÎÔÓ ÎÒÕÊ×ÆÙÎÛÊ ÛÎÊÜØ Ë×ÔÒ integrity is another vital factor in the corporate world and in that regard, the best organizations ¦ÚØÙ×ÆÑÎÆõØ ¨ÍÎÊË ¸ÈÎÊÓÙÎØÙ In a discussion on innovation, Australia’s prioritize the following four practices: Chief Scientist Dr. Alan Finkel explained that although robo-directors are already 1. Teach integrity to new staff; operating, including one that had been 2. Reinforce integrity to existing staff; functioning at a Hong Kong venture capital 3. Make sure employees are not penalized firm since 2014, there will still be a great for following integrity procedures; need for human directors until 2050. “Robot 4. Avoid any incentives leading to risky or directors are good at their jobs and are dishonest behavior. getting better,” he said, but added that they ÞßÔ×× ×ÌÎÖ ÞÚØÐßÓÔÙÒ áÔßÌ× ÌÝßÔÑÔÎÔÌ× ÒÐÙÐÝÌ× In his concluding remarks, Dr Finkel said intelligence – relating to human insights and the directors can be rest assured that their experiences. He then noted that experts jobs are safe for some time yet and won’t be indicate as human directors are likely to displaced by robot directors just yet, adding be active until at least 2050, shareholders, that “the sort of director that you want to be experts and governments will have to rely is not the director [AI] will displace. Robots on human directors for quite some time yet. don’t have noses, can’t have fun, and can’t “The challenge for the future is finding tell humans what they ought to do”. highly capable people who think like good humanists and good engineers.”- Dr. Finkel ¦ ÍÎÌÍ ÕÊ×ËÔ×ÒÆÓÈÊ ÈÚÑÙÚ×Ê É×ÎÛÎÓÌ ÙÍÊ explained. ×ÎÌÍÙ ÈÚÑÙÚ×Ê ËÔ× ÞÔÚ× ÇÚØÎÓÊØØ In a discussion about the corporate culture, He said that to operate effectively, directors Mr. Steven Vamos, CEO of Xero, said that need to think like good humanists. They the chief culture officer in any organization must act as custodians of vision and culture is the CEO. Regardless of the organization with heightened olfactory systems with or the industry, the CEO should be held the ability to to smell a rat or smell smoke. accountable for the development and Directors need to be capable of asking and quality of an organization’s culture.” answering questions that robot directors

18 | B o a r d r o o m

Microsoft had changed its culture over the last few years following a shift in mindset by the CEO, Satya Nadella, and others executives in the organization, explained Mr. Vamos, who is the former head of Microsoft Australia and Apple Australia.

“There have been massive changes at Microsoft in how the business is perceived and its success. It came down to one thing.

A mindset shift changed their culture.”

Mr. Vamos went on to explain that bad news must be welcomed by boards and management as part of the strategy process and boards must challenge managers where possible. However, in developing culture, boards must also beware of CEOs who are control-oriented and not transparent.

Culture is the human element of business and given the rise in stakeholder expectations, boards must make the effort to define them and measure them consistently, according to Mr. Vamos. He added that culture is a hot topic today because digital technologies, such as smartphones, the Internet and applications, such as social media have amplified the potential of people to have a voice and impact – for both good and bad.

Further to the discussion, three tips were given to foster a high-performance culture: 1. Make it safe for people in the organization to speak openly and challenge the status quo;

2. Encourage hard conversations about Other visits were the following: mistakes they have made and where they 1. Thikhumporn Daorote, Managing Director, Polagorn Kheosiplard, Chief Financial could have done better; 3. Demonstrate genuine care about people. Officer, and Simon Greenacre, General Counsel and Company Secretary, It was then explained that directors must RATCH- Australia Corporation Pty Limited ask themselves how they can evolve the met to discuss, a number of topics, human element in their organizations so that including, among others, compliance within the Australian business environment, they are high performing. Googleâ&#x20AC;&#x2122;s Project Aristotle identified that the core attribute of monitoring and evaluation of corporation high-performance teams is psychological governance and its impact on financial safety. Directors need to work overtime to performance, corporate culture and get people to speak honestly to them and business success. engage properly and eliminate the fear employees may have towards their directors. 2. A meeting was held with Michael Coleman, Director from Macquarie Group at the After the summit, the IOD group visited AICD Business Centre and Member the AICD Business Centre and Member Lounge to discuss and share information Lounge to be updated and learn about AICD about cooperate culture from his management policy and key enablers perspective, advancing AICD in Australia. Angus Armour (CEO), Marcel Mol (General Manager 3. The IOD group visited Centennial Coal Education), Louise Petschler (General Company Limited (Banpu Australia), Manager Advocacy), Lee Street (Member- Mandalong Mine (the biggest site) to ship State Manager) and Lauren Knight learn about the organizations, CEY (International Membership Executive) led business operations and digital transformations and view mine surface top pit the discussions. under the guidance of Mick Cairney -

CEO and Managing Director, Peter Parry - Deputy CEO, Katie Brassil -Executive General Manager and Steve Burgess Corporate Communications For the more details about the Australian Governance Summit 2019, please refer to: https://aicd.companydirectors.com.au/-/ media/cd2/resources/events/ags/2019/ pdf/0684110-eve-australian-governancesummit-2019-170x 240mm-internalsfinal-web.ashx ---------------------------------------------------

3L"DLADR12N3O W N.% A< Ms. Suthinee Kerdchuey Senior Officer Marketing & Member Engagement Thai IOD

B o a r d r o o m | 19

Board Briefing

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The Thai Institute for Directors (IOD) welcomed an expert on blockchain technology for a seminar organized in Grand Hyatt Erawan Bangkok, Thailand on March 19, 2019.

Mr. Chaiwat Utaiwan, Director, Thai IOD, opened the seminar with a welcome address. He discussed the growing of importance of blockchain technology in the rapidly changing business environment and introduced the guest speaker, Dr. Paul Sin, Partner at Deloitte Consulting, Leader of Deloitte Asia Pacific Blockchain Lab.

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collaboration, said Dr. Sin. As a result of blockchain, a lot of value is being added through the opening up of additional business transaction.

Dr. Sin noted that blockchain technology has made inroads in opening up trade finance for small and medium-sized enterprises (SMEs). World trade is valued at US$16 trillion, of which only 25 per cent of it is financed, resulting in a large shortage in trade finance. Financing given to SMEs, which represent 70 per cent of GDP in developing countries, is low, three out of four loan applications are rejected, because of concerns over false invoices and that the buyers really exits.

According to Dr. Sin, this problem is solved through blockchain technology. Information for a particular transaction is hashed and then put in a database for a blockchain network. Twenty-one million combinations can be generated. The hashed data are available to all subscribers to the network, but the encrypted data can only be accessed by businesses involved in the transactions. He explained that there are two types of blockchain networks, one in which permission is required to attain data and one that is open to the public.

Entities need to apply to join a permission blockchain for which there are governance measures.

transactions, said Dr. Sin. As a result, banks can lower interest rates, insurance companies can reduce premiums, and SMEs are in a better position to obtain financing to scale up their businesses.

Dr. Sin then discussed the different types of blockchain networks for the various sectors and the ecosystems of the networks. He explained that â&#x20AC;&#x153;bridge-buildingâ&#x20AC;? is required to tackle the challenge of connecting, for example, a banking network with one that is for logistics.

Specifically, the transparency associated with blockchains makes banks and insurance In the next part of the presentation, Dr. Sin companies feel more secure in their business provided examples of real-time cases

22 | B o a r d r o o m

involving the use of blockchain technology.

Through blockchain technology, manufacturer can put production details in the blockchain network. The companies can then send inspectors to the market to find retailers selling fake goods. Another procedure discussed helps insurers determine if diamonds are real or fake. Numbers are engraved on diamond, which need to be magnified 100 times to see it. The engraved number is put in the blockchain network and can be encrypted for proof to an insurance company to determine if the diamonds they are considering to insure are real.

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Board Briefing

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the Year Awards 2018 The Board of the Year Awards has been organized since 2002 to highlight IODâ&#x20AC;&#x2122;s intention to drive CG, support activities following the mission, and to inspire other directors to prioritize work and implementation following the CG principle. â&#x20AC;&#x153;The board of directors are key to corporate growth, progress or even a setback. They dedicate themselves for corporate development by utilizing their skills and capacities in several aspects including work ethics.

IOD is aware of this importance therefore organize the Board of the Year Award,â&#x20AC;? said Mr. Prasan Chuaphanich, IOD Chairman and Judging Panel Member.

To ensure that the award is widely accepted by agencies in the capital market, the Board of the Year Award criteria and consideration process have been adjusted and different from the previous years in three aspects as follow:

For this year, the Thai Institute of Directors (IOD) has revised the â&#x20AC;&#x153;Board of the Year Awardâ&#x20AC;? criteria. This is the prestigious award given to the directors of the listed Thai companies to express appreciation and moral support to their effective work following the Corporate Governance (CG) 1. Participation among stakeholders: Leading consulting companies and code. representatives from the Stock Exchange of This Boardroom issue will take readers to Thailand are key partners helping IOD adjust learn about views from experts in the capital and develop criteria and implementation market. They are members of the Interview guideline. Institutional investors and directors Panel and the Judging Panel at the Board of are also given opportunities to nominate

directors who should be shortlisted for the interview round.

2. CG score assessment criteria: Apart from considering CGR score, benefits given to stakeholders will also be considered.

3. Award categories: For this yearâ&#x20AC;&#x2122;s Board of the Year Awards will be given in three categories. The Board of the Year Awards itself will be breaking into three sub-groups based on market value and sizes. The two newly-added awards based on themes are Visionary Board Award and the special recognition award called Rising Star Awards. â&#x20AC;&#x153;For this year, we categorize companies into three groups: large, medium and small, so that all SET-listed companies will have opportunities to showcase their capacities and receive the awards, unlike the past that only big companies received the awards,â&#x20AC;?

Mr. Prasan said.

Most awards in the Thai capital market are usually given to companies and individuals.

However, the Board of the Year Award is the only award presented to the board of directors of listed companies. These groups of people are the key to corporate success or failure. The consideration criteria will include the directorsâ&#x20AC;&#x2122; implementation in Mr. Pa

B o a r d r o o m | 25

each CG aspect for example risk, strategy of working with the management and participation among stakeholders.

Business adjustment amid rapidly changing contexts is the challenge facing the directors worldwide. It is unavoidable that the directors will have to prioritize strategies as much as risk. Together with the management, directors should play their roles of sharing views, suggestion and useful information for coming up with strategy and risk implementation. The most crucial aspect is that the director must regulate until the implementation is successful.

The board of directors are key to corporate growth, progress or even a setback.

They dedicate themselves

for corporate development by

utilizing their skills and capacities in several aspects including work ethics.

“Business environment has changed rapidly and dramatically. We’re talking about digital disruption and many others.

Directors therefore need to be equipped with leadership skills so they can work well with the executive and steer the company to success,” said Khunying Jada Wattanasiritham, Judging Panel Member of the Board of the Year Award 2018.

Panel Member of the Board of the Year Awards 2018.

Presentation of the Board of the Year Awards has created an awareness of CG implementation. The good directors will help integrate CG into the corporate culture, leading to sustainability. If each corporate is equipped with CG culture, its credibility and good image will be strengthened. Such factor will effectively benefit investment in the Thai capital market in the long run.

ªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªª

“Roles and responsibilities of the corporate directors are crucial for CG and business sustainability. They are responsible for overseeing, directing and leading how the company and the executive should do.

Therefore, the Board of the Year Awards is a very important platform that will showcase best practices for other companies to adapt and put in practice in the future, leading to sustainable strength of the country,” said Dr. Pakorn Peetathawatchai, President of Stock Exchange of Thailand and Judging

26 | B o a r d r o o m

Interview session is the unique process for shortlisting directors having outstanding qualifications suitable for receiving the Board of the Year Awards. The awarded directors are not only recognized by the IOD but also well accepted by global capital market communities.

A list of top 10 finalists from each business group based on market capital was already announced on January 18. The Board of the Year Award ceremony is scheduled on July 24, 2019.

3L<8ĊC-R 8=E;#==<L Mr. Phisanu Phromchanya Public Relations Consultant Thai IOD

Board Development

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MT$`7 _= ;_*V;ET*ISG9Wg_= ;>G@GODc6 +T$$TE 9lT=ERaD-; 7 OLS*'C OD T*9Wg9Z$9 T;E[ 6[ WI T aG$_=GWgD;`=G*c= EI6_EfI $TE6lT_;V;:ZEZ $V+$f_EVgC9IW'ITC.S<. O; %X;h _EYOg De+T$$TE9WCg >W C [ LW I ;c6 LI ;_LWDETDbMC e _% TCT_$WgDI% O*CT$CTD Ă?ùâôĂ&#x17E;ĂŻĂĄ Ă&#x2030;âĂ&#x17E;åâïðüÌí *CT$CTD Ă?ùâôĂ&#x17E;ĂŻĂĄ Ă&#x2030;âĂ&#x17E;åâïðüÌí +X*;S<_= ; Ă&#x160;ÌÍåðâù LlT'SÂ&#x2030;9Wg+R 7O<a+9D $EEC$TEDZ ' bMC b ;$TE9l T M; T 9Wg $l T $S < 6[ ` G $V+$TEO*' $Eb;O;T'7 `7 'lT8TC'YO `G I9 T;_O* b;2T;R $EEC$TE<EVKS9 9 T;@E OC9Wg+RD$ER6S<BTIR >[ ;Tl %O*9 T;c=L[ Ă?ùâôĂ&#x17E;ĂŻĂĄ Ă&#x2030;âĂ&#x17E;åâïðüÌí `G I MEYODS* Âź --------------------------------------------------I am quite certain that all of you would be well familiar with the term â&#x20AC;&#x153;leadershipâ&#x20AC;?; especially if you are in a director position, this term would refer to you, yourself, inevitably. Actually, directors are leaders of organizations who are appointed by shareholders and are entrusted to be the persons who oversee the management in order to carry out the business in accordance with the organizationâ&#x20AC;&#x2122;s strategy with the aim of achieving the goals.

=ER$TE9Wg ÂŽ CZ *LE T*>G$ER9< ÂĽĂ&#x2030;âĂ&#x17E;åâïðüÌí Ă&#x;Ăś Ă&#x2020;ĂŞĂ­Ă&#x17E;à ùŒ $G TI'YO _= ;>[ ;lT 9WgbM 'ITCLlT'SÂ&#x2030;$S<@;S$*T; 6 ID_Mf;I T_= ; $GZ C <Z ' 'G9Wg _ = ; = + +S D 9Wg Ll T 'S Â&#x2030; DVg * 7 O 'ITC LlT_Ef+%O*O*' $Eb;ERDRDTI 9Sh*DS*$ER7Z ;bM @;S$*T;_$V6'ITC7ERM;S$ LE T*OTEC5 E IC _@YgO-Wh;lTbM _$V6@F7V$EEC9WgLO6ES<c=$S<IVLSD 9SJ; `GR@S;:$V+%O*O*' $E `GRLE T*`E* <S;6TGb+bM @;S$*T;CO*_Mf;'Z5' T9Wg+RbM 7 O In the past few years, Thai Institute of 7TC'ITCMCTD6S*$G TIb;_-V*%O*:ZE$V+ LS*'CCT$$I T>G=ERaD-; 9Wg7;_O*+Rc6 ES< Directors (Thai IOD) has been giving a strong importance to leadership issue as $f'*+R@OO;ZCT;c6 I T 'lT e ;Wh$f; T+R_= ;_EYgO* _$WgDI$S<<9<T9b;$TE$lT$S<6[`G$V+$TEa6DOD[ =ER$TE9Wg ÂŻ CO*c=b;O;T'7 ÂĽĂ?Ă&#x17E;ã⪠well as trying to push the internationally <;@Yh;2T;%O* $TELE T*'ITCLSC@S;: $S<>[ CW äòĂ&#x17E;ïåÌÍä ùüâ Ă&#x192;òùòï⌠$G TI'YO _= ;>[ ;lT accepted concept: Leadership Board L I;c6 L I;_LWD $GZ C7 T* e 9Sh*$S<@;S$*T; 9Wg C O*$TE5 c $G`GRCW IS 7 8Z = ERL*' b ;ERDR through various activities in order to raise and support the best practices G[$' T '[ ' T `GR$GZ COYg; e _@YgOLE T*ET$2T; DTI a6D>GS$6S;bM $TE CO*DTI $GTD_= ; awareness of the matter for Thai directors continuously.

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28 | B o a r d r o o m

• participate more in managing and developing the organization strategy formulation not just screen, approve and follow up from the management team from time to time like in the past • create a strong corporate culture by toning form the top and encourage it to be implemented throughout the organization by taking it as an agenda in the board meeting.

• supervise corporate risk oversight by bringing in perspectives, experiences and external expertise to support the management in identifying and finding new ways to cope with emerging risks which the organization may have not realized such as IT risks or cybercrime.

It takes several factors to create the leadership board. To have a leadership board, we need a good board composition, diversity of thoughts, skills, experiences, genders, ages, and etc. as well as time devoted to the organization. However, this practice does not guarantee that the board of directors would surely create value to the organization sustainably; it only touches the concept of governance roughly.

Creating value to the organization sustainably involves broader perspectives of directors and those perspectives need to be set for a much longer term. Additionally, a deep understanding of the business context, concerning about the impact on the society, and the ability to respond to the needs and create value to the internal and external stakeholders are also essential.

This is the reason why the concept of valuebased governance or stewardship is broadly mentioned in many countries recently.

What is stewardship? I think many directors may not be familiar with this term. If we translate it frankly—stewardship would mean guarding some benefits and assets in order to maintain, grow, and pass them on to the group of people behind.

According to the meaning, in the sense of business, it would be enough to assume that this word is probably about the role of corporate governance based on “building relationships with different groups of stakeholders” namely employees, customers, partners and others in order to build a strong corporate foundation that is ready to deal with different crises which may occur in the future and is able to create long-term values for the society.

Therefore, this type of organization often has clear and distinctive long-term goals which are consistent with its values, structure and processes resulting the clarity of purpose for the employees at all levels.

Certainly, stewardship company would not happen without a leader who has qualifications in line with the concept.

Therefore, this work requires directors with strong visions to create long-term benefits and the ability to communicate and convey such visions to employees in order to create understanding towards the same direction and balance between “ the corporate benefits” and “ the stakeholders’ benefits” in the society though a reliable and ethical business.

Feature 2-- Safeguarding the Future, that is to be a leader who is far-sighted and has long-term goals by pushing “foreseeing” as corporate culture. It is seen that this type of organization is often decentralized, the atmosphere of working relies on trust and the employees are encouraged to participate as a key backbone to help drive the organization to future success.

Feature 3—Driving Social Good, that is to be a leader who monitors expectations of all stakeholders continuously and view the profits as rewards from doing good for the society not the highest financial goals of the organization.

As you all know, the world is changing rapidly. Running a business is getting increasingly complicated from having new stakeholders involved. Steward Leadership is considered a key mind-set that would be “the answer” for directors in the new age in governing the organization in the future.

The question is…are you, as a director, ready to upgrade your leadership level to Steward Leadership?

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Didier Cossin, a professor from the IMD Global Board Center, once mentioned the key features of a leadership style called steward leadership in the book named “Inspiring Stewardship” (published in 2016) which can be divided into 3 features as follows: Feature 1—Leadership by Impact, that is the leaders who give importance to employees as they view them as a key factor for the success of the company in a long term.

They encourage the employees to realize and create a common mood in order to develop behaviors which are harmonized with the vision and mission of the organization. They also inspires their employees to weigh the value their can create for the society over their own benefits.

3L<G:N?L: W6 L:N}Y} Mr. Apilarp Phaophinyo Senior CG Analyst Curriculum Development Thai IOD

B o a r d r o o m | 29

Board Development

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The biggest problems across all businesses and industries are problems that are related to people.

Let me re-phrase this: ÂľĂ&#x160;Ă&#x201D;Ă&#x2022;Ă&#x2018;Ă&#x160; Ă&#x2020;Ă&#x2014;Ă&#x160; Ă&#x2122;Ă?Ă&#x160; Ă?Ă&#x160;Ă&#x17E; Ă&#x2122;Ă&#x201D; Ă&#x2DC;Ă&#x161;Ă&#x2C6;Ă&#x2C6;Ă&#x160;Ă&#x2DC;Ă&#x2DC; Ă&#x17D;Ă&#x201C; Ă&#x2020;Ă&#x201C;Ă&#x17E; Ă&#x2021;Ă&#x161;Ă&#x2DC;Ă&#x17D;Ă&#x201C;Ă&#x160;Ă&#x2DC;Ă&#x2DC; Ă&#x2020;Ă&#x201C;Ă&#x2030; Ă&#x17D;Ă&#x201C; Ă&#x2020;Ă&#x201C;Ă&#x17E; Ă&#x17D;Ă&#x201C;Ă&#x2030;Ă&#x161;Ă&#x2DC;Ă&#x2122;Ă&#x2014;Ă&#x17E;Â&#x2DC; Not strategy, not corporate governance, not finance drive results. People drive results.

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The success of your organization depends largely on how good your people are. If you want to be successful in the future, you ÂľĂ&#x2020;Ă&#x2014;Ă&#x2122; ĂšÂ&#x; ÂźĂ?Ă&#x2020;Ă&#x2122; Ă&#x17D;Ă&#x2DC; Ă&#x2C6;Ă&#x201D;Ă&#x2020;Ă&#x2C6;Ă?Ă&#x17D;Ă&#x201C;Ă&#x152; Ă&#x2020;Ă&#x2C6;Ă&#x2122;Ă&#x161;Ă&#x2020;Ă&#x2018;Ă&#x2018;Ă&#x17E; Ă&#x2020;Ă&#x201C;Ă&#x2030; need to Ă&#x2020;Ă&#x2122;Ă&#x2122;Ă&#x2014;Ă&#x2020;Ă&#x2C6;Ă&#x2122; Ă&#x2122;Ă?Ă&#x160; Ă&#x2021;Ă&#x160;Ă&#x2DC;Ă&#x2122; Ă&#x2122;Ă&#x2020;Ă&#x2018;Ă&#x160;Ă&#x201C;Ă&#x2122; in the market, you need to Ă&#x2030;Ă&#x160;Ă&#x203A;Ă&#x160;Ă&#x2018;Ă&#x201D;Ă&#x2022; Ă&#x2022;Ă&#x160;Ă&#x201D;Ă&#x2022;Ă&#x2018;Ă&#x160; to utilize their Ă&#x153;Ă?Ă&#x17E; Ă&#x2030;Ă&#x201D;Ă&#x160;Ă&#x2DC; Ă&#x17D;Ă&#x2122; Ă&#x2019;Ă&#x2020;Ă&#x2122;Ă&#x2122;Ă&#x160;Ă&#x2014;¤ full potential, and you need to make sure Whatâ&#x20AC;&#x2122;s the key to success in your business? you Ă&#x2014;Ă&#x160;Ă&#x2122;Ă&#x2020;Ă&#x17D;Ă&#x201C; Ă&#x17E;Ă&#x201D;Ă&#x161;Ă&#x2014; Ă&#x2122;Ă&#x201D;Ă&#x2022; Ă&#x2022;Ă&#x160;Ă&#x2014;Ă&#x2039;Ă&#x201D;Ă&#x2014;Ă&#x2019;Ă&#x160;Ă&#x2014;Ă&#x2DC;Â&#x2DC; And whatâ&#x20AC;&#x2122;s your contribution as a director of the board to this success? Corporate This is becoming increasingly important governance, legal liabilities, finance, and difficult because the Thai labor market strategic formulation and execution may be is shrinking [1] and younger people prefer on top of your agenda. No doubt, all these to be their own boss rather than working in traditional industries [2]. matter a lot.

However, one critical success factor is missing here. The list above looks as if we are operating a company like a machine: this is the input, this is the process, then this will be the output. But thatâ&#x20AC;&#x2122;s not reality. The critical factor which is missing, and which cannot be operated like a machine, is people.

When it comes to people issues, coaching seems to be the new buzzword. When done right, coaching can indeed help you attract top talent, develop people, and retain them â&#x20AC;&#x201D; and thus boost you organizationâ&#x20AC;&#x2122;s performance. However, many companies make critical mistakes when they start using coaching or when they want to build a òĂ&#x2C6;Ă&#x201D;Ă&#x2020;Ă&#x2C6;Ă?Ă&#x17D;Ă&#x201C;Ă&#x152; Ă&#x2C6;Ă&#x161;Ă&#x2018;Ă&#x2122;Ă&#x161;Ă&#x2014;Ă&#x160;Ăł.

Leaders in companies hire me to help them with their most pressing problems. These As a director of the board, you need to problems are usually not about strategy, consider how you have to get involved in the economy, or the political situation. this process. With regard to Ă&#x2019;Ă&#x2020;Ă&#x201C;Ă&#x2020;Ă&#x152;Ă&#x160;Ă&#x2019;Ă&#x160;Ă&#x201C;Ă&#x2122; Ă&#x2020;Ă&#x2C6;Ă&#x2C6;Ă&#x201D;Ă&#x161;Ă&#x201C;Ă&#x2122;Ă&#x2020;Ă&#x2021;Ă&#x17D;Ă&#x2018;Ă&#x17D;Ă&#x2122;Ă&#x17E;Â&#x2013; it is your responsibility, too, to ensure that coaching is integrated in a ÂŚĂ&#x2021;Ă&#x201D;Ă&#x161;Ă&#x2122; Ă&#x2122;Ă?Ă&#x160; ÂŚĂ&#x161;Ă&#x2122;Ă?Ă&#x201D;Ă&#x2014; Dr. Gerrit Pelzer is a Leadership Advisor & Executive way that gets you the desired results. If not Coach who helps leaders create an environment done right, you will be wasting valuable in which people excelâ&#x20AC;&#x201D;so that you get better resources and potential. business results through people. Gerrit holds Professional Certified Coach credentials and he was one of the first ICF-certified coaches in Thailand. He holds a Masterâ&#x20AC;&#x2122;s degree in chemistry and a doctoral degree in natural sciences from the Technical University Aachen in Germany. Before entering into full-time coaching, he worked in various senior positions in the chemical industry in Europe and in Asia. He can be reached at gerrit@vivocoaching. com

There are three critical mistakes that many companies make when they start building a coaching culture, and you need to know how to avoid them. It all starts with this:

§Ă&#x17D;Ă&#x152; ²Ă&#x17D;Ă&#x2DC;Ă&#x2122;Ă&#x2020;Ă?Ă&#x160; Â?Ăš Ă&#x153;Ă?Ă&#x160;Ă&#x201C; §Ă&#x161;Ă&#x17D;Ă&#x2018;Ă&#x2030;Ă&#x17D;Ă&#x201C;Ă&#x152; Ă&#x2020; ¨Ă&#x201D;Ă&#x2020;Ă&#x2C6;Ă?Ă&#x17D;Ă&#x201C;Ă&#x152; ¨Ă&#x161;Ă&#x2018;Ă&#x2122;Ă&#x161;Ă&#x2014;Ă&#x160;Â&#x; ¨Ă&#x201D;Ă&#x2019;Ă&#x2022;Ă&#x2020;Ă&#x201C;Ă&#x17D;Ă&#x160;Ă&#x2DC; Ă?Ă&#x2020;Ă&#x203A;Ă&#x160; Ă&#x201C;Ă&#x201D; Ă&#x2C6;Ă&#x2018;Ă&#x160;Ă&#x2020;Ă&#x2014; Ă&#x2030;Ă&#x160;Ă&#x2039;Ă&#x17D;Ă&#x201C;Ă&#x17D;Ă&#x2122;Ă&#x17D;Ă&#x201D;Ă&#x201C; Ă&#x2020;Ă&#x2DC; Ă&#x2122;Ă&#x201D; Ă&#x153;Ă?Ă&#x2020;Ă&#x2122; Ă&#x2020; Ă&#x2C6;Ă&#x201D;Ă&#x2020;Ă&#x2C6;Ă?Ă&#x17D;Ă&#x201C;Ă&#x152; Ă&#x2020;Ă&#x2C6;Ă&#x2122;Ă&#x161;Ă&#x2020;Ă&#x2018;Ă&#x2018;Ă&#x17E; Ă&#x17D;Ă&#x2DC;Â&#x2DC;

Every company today seems to have or at least wants to have a coaching culture. It’s cool to have a coaching culture. But what is it really? ¦ÓÉ ÜÍÆÙ ÎØ ÈÔÆÈÍÎÓÌ ÎÓ ÙÍÊ ËÎ×ØÙ ÕÑÆÈʤ

What coaching is not • telling • teaching • directing • consulting • fixing a problem • therapy

Coaching is still a relatively young discipline, and there is a lot of confusion in the public as to what coaching is and what it is not.

Once more we see that coaching is not Here is how today’s professional executive about teaching but instead helping others coaches and leadership coaches look at it to ÑÊÆ×Ó. What’s remarkable is that John (boxes 1 and 2): Whitmore has a different view on potential.

Apparently he sees potential as something The International Coach Federation (ICF), that is already there. Instead of maximizing it the largest coaching organization world(ICF) he says that coaching is about ÚÓÑÔÈÐ wide, defines: ÎÓÌ ÕÔÙÊÓÙÎÆÑ. Let’s illustrate this: “Coaching is partnering with clients in a Do you play golf? Then probably you have thought-provoking and creative process experienced the perfect shot: you swing that inspires them to maximize their personal backwards and you notice already that and professional potential.” [3] everything feels just right. With your eyes on the ball, you swing forward. Your Let’s have a closer look at this short but movements are powerful but smooth; important sentence: we see first of all that you’re in the flow. You feel how you hit the coaching is a ÕÆ×ÙÓÊ×ØÍÎÕ between client sweet spot, you hear that perfect sound that and coach. This implies that coach and makes you shout a silent ‘YES!” — and the client (often also referred to as “coachee”) ball goes exactly where you want it to go. meet ÆÙ ÊÞÊ ÑÊÛÊÑ and that is crucial. The Ah, isn’t that wonderful. coach for instance is not a guru who knows everything or has all the answers. Coaching So you are capable of hitting this perfect is not instructing or giving advice. shot. If you play 18 holes, what’s your percentage of hitting this perfect shot?

Client and coach undergo a process which Even for top professionals it is not 100%. is supposed to be ÙÍÔÚÌÍÙ Õ×ÔÛÔÐÎÓÌ ÆÓÉ — But isn’t that funny because you and the È×ÊÆÙÎÛÊ Telling someone what to do or professionals actually have the ability do teaching them is not very thought-provoking always get it right. If you can do it once, you or creative. Coaching triggers and improves have the ÕÔÙÊÓÙÎÆÑ for doing it all the time, thinking to facilitate positive change. [4] right?

As a result, the client shall get ÎÓØÕÎ×ÊÉ to maximize their ÕÔÙÊÓÙÎÆÑ either personally, There may be some physical limitations, but professionally, or both. what is getting into your way of achieving 100% perfection is usually not what is Here’s another definition with a slightly happening in your muscles, but instead different perspective by Sir John Whitmore what is happening in your brain.

[5]: “Coaching is unlocking a person’s potenTimothy Gallwey [6], a tennis coach, was the tial to maximize their own performance. It is first to put this into a simple mathematical helping them to learn rather than teaching formula: P = p - i. Performance equals them.” potential minus the interferences.

What coaching is • listening • facilitating learning • building on asking powerful questions • leveraging potential • solution-focused • changing the brain

Let’s illustrate this: you have the potential to hit the ball in golf or tennis perfectly. What’s getting into the way of doing this all the time, besides your physical limitations, are the interferences (e. g. your thinking, your emotions etc.) As a consequence, your actual performance is lower than your potential. [7] Coaching, according to Whitmore, aims at minimizing the interferences in order to unlock the potential that is already there, so that you can maximize your performance — be that in tennis, golf or in a corporate work context.

By the way, how many of the top tennis players or golf pros have a coach? Of course, all of them.

Do they need coaches because they are not good at playing tennis? Of course not.

They are very good already, and they are ambitious to make it all the way to the top.

Their coaches help them to utilize their full potential.

How come then that not all corporate executives have a coach? That’s worth a thought or two, isn’t it?

In conclusion: the first important step to building a coaching culture in your organization that gets you the results you desire is to ensure that you have a common definition for coaching across the whole organization. It does not matter so much which definition you choose, but it is absolutely vital that everybody is talking about the same thing when they use the term coaching.

B o a r d r o o m | 33

Next time we will look at the practical aspects of how coaching can be done in a corporate context, and what the other mistakes are that companies make when they start building a coaching culture.

--------------------------------------------------------------------------------------------------------------------------------------------------------------Footnotes [1a] “The working age population [in Thailand] is expected to shrink by around 11% as a share of the total population between now and 2040 – from 49 million people to around 40.5 million people. […] This decline in working age population is higher in Thailand than in all other developing East Asia and Pacific countries, including China.” http://www.worldbank.org/en/country/thailand/publication/thailand-economic-monitor-june-2016-aging-society-and-economy [1b]“But while the population will stay roughly the same, the labor force will start dropping significantly at some point. At present there are around 42 million Thais in the work force. That figure includes citizens from the ages of 15 to 60 and does not include migrant workers. In 2040 the Thai work force will shrink to 35-36 million people.” http://www.thebigchilli.com/feature-stories/thailands-uncertain-future-as-the-population-and-workforce-go-into-decline [2] 57% of Millennials and 67% of Generation Z would consider joining the gig economy, respectively have already done so, instead of full-time employment “The Deloitte Millennial Survey 2018” https://www2.deloitte.com/global/en/pages/about-deloitte/articles/millennialsurvey.html [3] https://coachfederation.org/about [4] “Quiet Leadership” by David Rock, Harper, 2006 [5] Sir John Whitmore, 1937-2017, is considered one of the father’s of modern coaching. He authored the book "Coaching for Performance” (Nicholas Brealey Publishing, 4th edition, 2009, which introduced the world to the famous GROW Model (see also https://www.linkedin.com/pulse/grow-coaching-model-work-dr-gerrit-pelzer/) [6] Timothy Gallwey wrote first “The Inner Game of Tennis: The Classic Guide to the Mental Side of Peak Performance” (Random House, 2008; first edition 1974) followed by “The Inner Game of Golf” and “The Inner Game of Work” [7] An impressive example on how the interferences can limit even the performance of top professionals could be observed during the recent tennis US Open finals: Serena Williams, formerly ranking number one in the world, was warned for being coached during the match. She could have put this “interference” aside and have simply played her game. Instead, things got into her head. The situation escalated. She called the umpire a thief, and completely lost not only “it” but also the final. For details see e.g. BBC Sport “US Open 2018: Serena Williams fined over outbursts during final” https://www.bbc.com/sport/tennis/45463752

34 | B o a r d r o o m

Dr. Gerrit Pelzer Managing Director & Executive Coach Helping Leaders Create Better Results through People

Board Development

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value to the business, and they also have to supervise IT. Thus, directors are required to emphasize on learning and following IT subjects continually, so that they can supervise IT properly and are able to create competitive advantages.

strategic planning related to changes in IT system ,so that the system can be operated efficiently within the shortest period of time.

As a board of directors who has in give advice to the management and prepare the organization for the use of IT system with the aim of increasing competitiveness, there are 5 primary issues you have to consider:

The board of directors and the management must be confident that the implementation of the IT system in the organization can primarily support the overall operational structure, the development and the maintenance of the IT system and applications, as well as the security of the IT system of the organization. However, the use of the IT system must truly fully benefit the organization, and when problems occur, they must be able to be identified and solved quickly.

ù ¹Ô ÜÍÆÙ ÉÊÌ×ÊÊ ÉÔÊØ ÙÊÈÍÓÔÑÔÌÞ ÕÊ×ÒÎÙ ÈÔ×Ê ÇÚØÎÓÊØØ ÆÈÙÎÛÎÙÎÊØ ÙÔ ÍÆÕÕÊÓ¤ Directors need to be able to assess the IT capabilities of the organization before introducing new systems, so that they can use the information to decide on a suitable IT system for the organization. They can do so by defining assessment indicators which show the worthiness of the use of the IT system, and prioritizing it in order to allocate budget and personnel.

ú ¼ÍÆÙ ÛÆÑÚÊ ÎØ ÙÍÊ ÇÚØÎÓÊØØ ÌÊÙÙÎÓÌ Ë×ÔÒ ÎÙØ ÒÔØÙ ÎÒÕÔ×ÙÆÓÙ ®¹ Õ×ÔÏÊÈÙؤ

At present, the advancement of technology plays an important role in life. It allows us to see, acknowledge, exchange, and forward different things to each other more often and faster. This change not only changes the way people live, but also affects business sectors. The changes start from business direction, product and service lines, and even corporate culture. Therefore, directors and the management need to adapt, so that they can transform their business models to meet with the current situation. According to the principles of corporate governance for Thai listed companies, revised in 2017, a role of the boards of directors was added: the boards must encourage the use of innovation and technology in order to add

Implementing IT system in an organization requires a large amount of budget; therefore, the board of directors need to be confident that they can track the progress of the project, and access important information and work details promptly, so that they can keep track on the expenses to make sure they go according to the plan, and evaluate the benefits to see whether the organization can earn what they have expected; moreover, these acts also reduces the risk of failure.

ü ­ÔÜ ÊËËÎÈÎÊÓÙ ÎØ ®¹ ÆÙ ×ÔÑÑÎÓÌ ÔÚÙ ÙÊÈÍÓÔÑÔÌÎÊØ ÆÓÉ ÆÈÍÎÊÛÎÓÌ ÉÊØÎ×ÊÉ ÔÚÙÈÔÒÊؤ

ý ¼ÍÆÙ ØÐÎÑÑØ ÆÓÉ ÙÆÑÊÓÙ ÉÔÊØ ®¹ ÓÊÊÉ ÙÔ ÆÈÍÎÊÛÊ ÉÊØÎ×ÊÉ ÔÚÙÈÔÒÊؤ At present, issues related to IT systems are considered as important issues that most organizations have to pay attention to. Therefore, it is crucial that the board of directors and the management have a common understanding about the skills and technological capabilities that the organization needs both at present and in the future. Then, they can plan and prepare their employees by developing both hard and soft skills for them, and regularly monitoring their progresses.

Nevertheless, directors need to be aware that technology is constantly developed, if you wish to implement it in your organization, you need to prepare your personnel and internal work processes to make sure they are ready for changes which û ­ÔÜ ÑÔÓÌ ÉÔÊØ ÎÙ ÙÆÐÊ ÙÍÊ ®¹ constantly occur, and you also need to Ô×ÌÆÓÎßÆÙÎÔÓ ÙÔ ÉÊÛÊÑÔÕ ÆÓÉ ÉÊÕÑÔÞ ÓÊÜ assess risks regularly.

--------------------------------------------------ËÊÆÙÚ×ÊØ ÆÓÉ ËÚÓÈÙÎÔÓÆÑÎÙÞ¤ To do businesses at the moment, everything must be timely. If changes are needed for the 3L"DLA ;-O ;-OXD" Ms. Manee Maneesang organization’s IT system; the management needs to understand its basic structures, CG Specialist Research & Policy resources, and necessary IT skills in order Thai IOD to use the information to decide on its B o a r d r o o m | 37

Anti-Corruption Update

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IS;9W g ¯¯ CW;T'C ¯²³¯ 'Z5@VK5Z @EMC+EEDT 9Wg=EX$KT6 T;$TE=ER-TLSC@S;: À¾À c6 E IC *T;_LI;T $TED$ER6S<:EECTBV<TG'[' T M; ID *T;ES2IVLTM$V+ 9W+g 6S a6DLlT;S$*T;'5R$EEC$TE = O*$S;`GR=ET<=ETC$TE9Z+EV7`M *-T7V a6D c6 `;R;lTbM '[ ' T%O*ES2IVLTM$V+9Wg_% TE IC*T; $I T ¯­­ ETDc6 E[ +S$`GRL;b+_% TE ICa'E*$TE À¾À IS;9W g ¯´ CW;T'C À¾À c6 EI C$S<LWMg O$TE' T %O*$GZ C=ER_9J Ëìïáæà +S6*T;LSCC;T 38 | B o a r d r o o m

OECD Integrity Week CAC

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¯Ž´ ÂŹ 'Z5:SÂ&#x2030;Â&#x2030;@E 7 O ¹­³ = + +Z <S ; CW < EV KS 9 9Wg _ 'DG*;TC=ER$TJ _+7;TEC5 _ % T E I C7 O 7 T ;'OE ES = -S ; $S < a'E*$TE Ă&#x20AC;žĂ&#x20AC; `G I+lT;I; œ°´ <EVKS9 _= ; <EVKS99Wg> T;ES<EO* °³³ <EVKS9 a6Db;+lT;I; ;Wh _ = ; <EV KS 9 9Wg > T ;$TEES < EO*7TCCT7E2T; =ER_CV; Ă&#x20AC;žĂ&#x20AC; Ă?Ă&#x160;Ă&#x201A; Ă&#x20AC;âïùÌãÌà Ă&#x17E;ùÌÏÍ ¼Ž´ % OÂŚ +lT;I; Ž­ <EVKS9 ÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞ Interesting CAC project progresses during On March 27, CAC together with the four March- April 2019 are as follow: Nordic Chambers of Commerce held a On March 20 â&#x20AC;&#x201C; 21, 2019 Mr. Pana seminar on â&#x20AC;&#x2DC;The Next Big Thing in the Fight Ratanabanangkoon, CAC project director, against Corruption: CAC Certification and was invited to attend the Organization for Thai anti-corruption initiative.â&#x20AC;&#x2122; Mr. Kulvech Economic Co-operation and Development Janvatanavit, Secretary of the CAC, (OECD) Business Integrity Week at Paris. introduced the CAC campaign to the In the event, Mr. Pana joined the forum to members of the four Nordic Chambers talk about the success of the private sector of Commerce. He also pointed out the in Thailand in establishing collective action reasons why foreign companies should join and developing a unique certification process the CAC as it is an action to take a clear stance with the standards that cover both large on anti-corruption and to show their Thai companies and SMEs. He also participated partners that they pay attention to this issue. in a group discussion of open data which Mr. Pana Ratanabanangkoon explained the allows him to learn about interesting process of applying for certification according experiences and developments in different to the standards of large companies and countries. Moreover, he met with OECD SMEs. In the event, there were approximately representatives to discuss the opportunity 30 executives from companies which to establish regional cooperation with the are the members of the four Chambers of CAC in accordance with the OECD plan to Commerce. find the way to support the private sector regional collaboration so as to raise the The CAC has organized a new training standard of transparency in the same course: Corruption Risk & Control: Technical practice as the CAC in Vietnam, Malaysia, Update (CRC) first batch (CRC 1/2019) on March 25, 2019. There were 27 participants and Indonesia. from 21 companies. This course was On March 22, 2019, Mr. Phisanu Phrom- developed with an aim to build an accurate chanya, Public Relations Consultant, CAC, understanding for executives, secretaries, attended the seminar: â&#x20AC;&#x153;Raising the level and the working groups of the company, of good governance in business partners so that they can identify corruption risks of state-owned enterpriseâ&#x20AC;? organized by accurately, are able to design both preventive the Office of the National Anti-Corruption and follow-up internal control systems, Commission. More than 200 partners of and most importantly are able to create a state-owned enterprises were introduced presentation in accordance with the CAC to the CAC and they were interested in guidelines for risk management and risk control plans as CAC expects. participating in the campaign.

If you are interested in training from the basic level, you may apply for the AntiCorruption: The Practical Guide (ACPG) course. The course is suitable for those who are responsible for establishing internal control systems to prevent corruption inside the company. Another interesting ourse is Ethical Leadership Program (ELP) which is suitable for directors and top executives. The course will help you understand the ways to drive anticorruption policy into corruption risk management.

For application and more information, please contact o www.thai-iod.com --PROJECTS o E-mail: cac-enroll@thai-iod.com o Tel: 0 2955 1155 Mr. Pakin Ext. 217 / Mr. Tanyaporn Ext. 406 Currently, there are 937 companies that have signed a declaration of intention to join anti-corruption with the CAC project.

Three hundreds and sixty-six of them have been certified, and ten of them have been certified with the CAC SME Certification (17 items).

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3L<8Ä&#x160;C-R 8=E;#==<L Mr. Phisanu Phromchanya Public Relations Consultant Thai IOD

B o a r d r o o m | 39

Anti-Corruption in Practice

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During recent New Year holidays, there was a barrage of announcements from private and public organizations regarding No Gift Policy. Has this help or change anything for the givers and receivers of gifts, and more importantly the bribery situation?

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CAC has spoken with a number of business owners and executives of large companies and has learnt that, for smaller companies, the no gift policy has been a bright light in the world of endless business entertaining and corporate gift-giving. One business executive described the New Year present offering period as a â&#x20AC;&#x153;very stressful timeâ&#x20AC;? because he does not only have to decide what to give and to whom but also to deal with financial burden on his company. Gifts can range from a small token of appreciation like a bottle of wine to something as expensive as cars used for lucky draws. â&#x20AC;&#x153;After joining CAC, we have established a strict policy on gift-giving and eventually go above and beyond to announce a No Gift Policy. Initially, gift expectations were still there but they significantly decreased after the announcement,â&#x20AC;? one business owner said and added that â&#x20AC;&#x153;the companyâ&#x20AC;&#x2122;s expenses for holiday gifts have been reduced by 50% last year.â&#x20AC;? This means millions of baht in cost-saving for certain companies.

Another business owner said he was rather stressful when festive season approached, but â&#x20AC;&#x153;I can now take vacations without worrying about giving gifts. Joining the CAC gives us a decent reason to tell external parties that, as a CAC certified company, we have established no gift policy.

B o a r d r o o m | 41

Previously, it was very difficult for us to come up with an excuse not to give gifts.”

A senior board member of a CAC certified companies said “Previously, we only implemented no gift policy with our business partners who are CAC certified members, simply because they understand why we do this and are very supportive. But now that we are also a certified member, we have extended our no gift policy to all parties that we engage with and also take into consideration gift-giving policy of our foreign counterparts.”

As for large companies, whose executives could be on the receiving-end, NO Gift Policy can make management less worrisome about favouritism and bribery within their departments. An executive at one major real estate developer said the policy allows management to “spend less time receiving and re-distributing the gifts around”. He also noted that “Tone at the Top” is very important and his company tried to communicate with employees by having posters of the Chairman’s message about No Gift Policy everywhere in the office, including elevators, as well as on intranet site.

in collaboration with the Anti-Corruption Organization of Thailand (ACT), which push government agencies to announce similar policy.

in the private sector including the Thai Chamber of Commerce, the Joint Foreign Chambers of Commerce in Thailand, the Thai Listed Companies Association, the Federation of Thai Industries, the Federation of Thai Capital Market Organizations, the Thai Bankers’ Association, the Tourism Council of Thailand, and the Thai Institute of Directors Association (IOD), which also serves as its secretariat and takes a leading role in driving the initiative.

According to ACT, 13 out of 20 Ministries have announced No Gift Policy while 39 out of 56 state enterprises also have the policy in place. Several regulatory bodies including the National Anti-Corruption Commission, the Bank of Thailand, the Budget Bureau, the Courts, and Office of Attorney General _ No Gift Policy.

At present, 937 companies of all types and When asked if abandoning gift-giving have also applied sizes in various industries have signed up practice generated any adverse effect on business, an executive said “we have not ACT Secretary General Mana Nimitmongkol with CAC, pledging to put in place antisaid “All parties can now be worry-free corruption policy and high compliance seen any negative impact yet”. about finding gifts for people or getting gifts standard. They include 429 listed companies, The CAC has been at the forefront of from people…There are numerous ways accounting for more than 80% of the Thai Collective Actions against Corruption to preserve our decent culture (besides bourse’s total market capitalization. Of the and one of the most advance Collective presenting valuable gifts), just flower is total, 366 (including 10 SMEs) have been certified by CAC. Such huge number of Actions in the world. Although we do not sufficient to show respect.” participants turned the CAC into one of the require certified companies to have a No Gift policy, the companies are required to have The CAC is an international acclaimed world’s leading anti-corruption programs in strong procedures in place for gift-giving as platform for companies in Thailand to tackle the private sector. part of their anti-corruption checklist. The corruption on a voluntary basis through --------------------------------------------------companies have to also inform their collective action. It promotes implementation 3L<83L =K/34==-L" S= business partners of their gift policies and of effective anti-corruption policies in order Mr. Pana Ratanabanangkoon to create a clean business ecosystem. expect compliance with such policies.

The CAC’s campaign urging private The CAC was co-founded in 2010 by the companies to announce No Gift Policy was country’s eight prominent organizations

42 | B o a r d r o o m

Project Director Thailand’s Private Sector Collective Action Coalition against Corruption (CAC)

FAMILY BUSINESS GOVERNANCE ĮĪį aeŵb`aiĢ d ų e )< !@ :*! befb Reaching Twin Peaks: Solid Family Foundation Powerful Engine for Strong Sustainable Family-Controlled Companies

B o a r d r o o m | 43

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Board Review

b;'OGS C ; ;Wh _ ET%O`;R;l T M;S * LY O LO* _G C9Wg>[ <EVMTE'IEO T; _G C`E$'YO à Ìðïòíù ĂŹĂŻ à Ìâ .Xg*_%WD;a6D Ă&#x2021;âåÌåÌĂ&#x17E;ĂĽ Ă&#x2013;òâü `GR_G C9Wg LO* žà ïÏðð Ă&#x2018;üâ ¿ÏĂ&#x17E;ĂŻĂĄ a6D Ă&#x160;Ă&#x17E;ïè ž Ă?ãÌðùâï ŠĂ&#x17D;Ă&#x2DC;Ă&#x2014;Ă&#x161;Ă&#x2022;Ă&#x2122; Ă&#x201D;Ă&#x2014; ŠĂ&#x17D;Ă&#x160;Â&#x; ÂźĂ?Ă&#x2020;Ă&#x2122; ¨Ă&#x201D;Ă&#x2019;Ă&#x2022;Ă&#x2020;Ă&#x201C;Ă&#x17D;Ă&#x160;Ă&#x2DC; ÂłĂ&#x160;Ă&#x160;Ă&#x2030;Ă&#x2DC; Ă&#x2122;Ă&#x201D; ÂąĂ&#x160;Ă&#x2020;Ă&#x2014;Ă&#x201C; Ă&#x2039;Ă&#x2014;Ă&#x201D;Ă&#x2019; ¸Ă&#x17D;Ă&#x2018;Ă&#x17D;Ă&#x2C6;Ă&#x201D;Ă&#x201C; ÂťĂ&#x2020;Ă&#x2018;Ă&#x2018;Ă&#x160;Ă&#x17E; Ă&#x2122;Ă&#x201D; ¸Ă&#x161;Ă&#x2014;Ă&#x203A;Ă&#x17D;Ă&#x203A;Ă&#x160; Ă&#x2122;Ă?Ă&#x160; ŠĂ&#x17D;Ă&#x152;Ă&#x17D;Ă&#x2122;Ă&#x2020;Ă&#x2018; ÂŞĂ&#x2014;Ă&#x2020;

_%WD;a6D Ă&#x2021;âåÌåÌĂ&#x17E;ĂĽ Ă&#x2013;òâü M;S * LY O _G C ;Wh @[ 6 8X * $EO<`;I'V 6 ÂĽĂ&#x192;ĂŻĂ&#x17E;êâôÏïèŒ `GR'ITC+lT_= ;%O*O*' $E 9Sh*%;T6_Gf$`GR%;T6bMÂ&#x2030; 9Wg+R7 O*+S6bM CW $TE@S4;T à ÌäÌùĂ&#x17E;ĂŠ Ă?ùïĂ&#x17E;ùâäÜ %Xh;CTb- _@YgObM LTCTE8=ES<7SIOD[ EO6c6 b;DZ'9Wg_7fCc=6 ID åÌðïòíùÌÏÍ OD T*b;= ++Z<S; 6 ID@TDZ_9'a;aGDW7 T*e _- ; žĂ&#x2020; `GR ER<<=1V<S7V$TEOS7a;CS7V9Wg$lTGS*LR@S6c=9SgI aG$ OZ7LTM$EEC7 T*e ;Sh;+X*LTCTE88[$9lT bM _ = ; E[ = _= ; E T *%Xh ; MEY O 8[ $ 9RG C bM @S * 9GTDG*c6 BTDb;- I*_IGTOS;LSh;`GR'ITC @DTDTC9Wg; OD$I T9Wg> T;CT :ZE$V+9Sh*; OD bMÂ&#x2030; G I;+lT_= ;7 O*CW$TE=1VIS7V CVb- _@WD*$TE @S4;T6 T;$GDZ9: 9T*6V+V7SG a-'6W9Wg Ă?âïÌĂ&#x17E;ĂŠ Ă&#x201A;ÍùïâíïâÍâòï `GR Ă&#x20AC;Ă&#x201A;Ă&#x152; OD T* Ă&#x160;ĂŻÂŤ Ă&#x2021;âåÌåÌĂ&#x17E;ĂĽ Ă&#x2013;òâü c6 EI<EIC'GS*`L*%O* ĂŁĂŻĂ&#x17E;êâôÏïè 9Wg LlT'SÂ&#x2030;_@YgO- IDbM <EVKS97 T*e OD[ EO6`GR_+EVÂ&#x2030; _7V<a7c6 b;DZ'6V+V7SG 6 ID=ERL<$TE5 $I T ¯­ = b;2T;R åÌäÌùĂ&#x17E;ĂŠ åÌðïòíùÏï Ă&#x160;ĂŻÂŤĂ&#x2013;òâü c6 +S6 _7EWDC'ITCE[ _-V*GX$9WgLlT'SÂ&#x2030;`$ _+ T%O*:ZE$V+ `GR>[ <EVMTEb;CZC9WgI T_M7Zb6'ITC@DTDTCb; = ++Z<S;+X*G C_MGI @E OC9Sh*`;R;lT_'EYgO*CYO b;$TELE T*>GV7BS53 6V+V9SG_@YgO'ITCDSg*DY;Š >G$lTcE`GR'ITCOD[ EO6 cC I T'Z5+R_= ;>[ <EVMTE9WgCW=ERL<$TE5 b;$TE9lT*T;CT$CTDŠ $lTGS*9lT*T;b;<EVKS9 Ă?ĂąĂ&#x17E;ïùòí MEYO`' _@WD*CW 'ITCL;b+b;6 T;_9'a;aGDW M;S*LYO_G C;Wh+R - ID'Z5_$f<_$WgDI>G=ERaD-; +T$DZ'EZ *_EYO* %O*6V+V7SG`9;9Wg+R9Z$% 9;c=$S<CS; ÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞ

44 | B o a r d r o o m

In this column we would like to recommend two books that directors should read which are Disrupt or Die: What Companies Needs to Learn from Silicon Valley to Survive the Digital Era by Jedidiah Yueh and Across The Board: The Modern Architecture Behind an Effective Board of Directors by Mark A. Pfister.

ŠĂ&#x17D;Ă&#x2DC;Ă&#x2014;Ă&#x161;Ă&#x2022;Ă&#x2122; Ă&#x201D;Ă&#x2014; ŠĂ&#x17D;Ă&#x160;Â&#x; ÂźĂ?Ă&#x2020;Ă&#x2122; ¨Ă&#x201D;Ă&#x2019;Ă&#x2022;Ă&#x2020;Ă&#x201C;Ă&#x17D;Ă&#x160;Ă&#x2DC; ÂłĂ&#x160;Ă&#x160;Ă&#x2030;Ă&#x2DC; Ă&#x2122;Ă&#x201D; ÂąĂ&#x160;Ă&#x2020;Ă&#x2014;Ă&#x201C; Ă&#x2039;Ă&#x2014;Ă&#x201D;Ă&#x2019; ¸Ă&#x17D;Ă&#x2018;Ă&#x17D;Ă&#x2C6;Ă&#x201D;Ă&#x201C; ÂťĂ&#x2020;Ă&#x2018;Ă&#x2018;Ă&#x160;Ă&#x17E; Ă&#x2122;Ă&#x201D; ¸Ă&#x161;Ă&#x2014;Ă&#x203A;Ă&#x17D;Ă&#x203A;Ă&#x160; Ă&#x2122;Ă?Ă&#x160; ŠĂ&#x17D;Ă&#x152;Ă&#x17D;Ă&#x2122;Ă&#x2020;Ă&#x2018; ÂŞĂ&#x2014;Ă&#x2020;

by Jedidiah Yueh With cyclonic technologies like AI and automation sweeping the globe, established industries can be shaken up or taken down in less time and with less effort than ever

before. Businesses big and small need a revolutionary, not evolutionary, digital strategy. Thankfully, serial entrepreneur and CEO Jedidiah Yueh has compiled an arsenal of essential frameworks to help companies survive and thrive in the digital era. With more than twenty years of experience as a digital disruptor, Yueh provides business owners and executives with the critical insights into why current efforts are failing and the tools to build digital products for sustainability, profitability, and survival.

Whether youâ&#x20AC;&#x2122;re an experienced executive, working in a startup, or just interested in technology, this book will help you reap the benefits of the digital renaissance instead of suffering from a digital apocalypse.

ÂŚĂ&#x2C6;Ă&#x2014;Ă&#x201D;Ă&#x2DC;Ă&#x2DC; šĂ?Ă&#x160; §Ă&#x201D;Ă&#x2020;Ă&#x2014;Ă&#x2030;Â&#x; šĂ?Ă&#x160; ²Ă&#x201D;Ă&#x2030;Ă&#x160;Ă&#x2014;Ă&#x201C; ÂŚĂ&#x2014;Ă&#x2C6;Ă?Ă&#x17D;Ă&#x2122;Ă&#x160;Ă&#x2C6;Ă&#x2122;Ă&#x161;Ă&#x2014;Ă&#x160; Ă&#x2021;Ă&#x160;Ă?Ă&#x17D;Ă&#x201C;Ă&#x2030; Ă&#x2020;Ă&#x201C; ÂŞĂ&#x2039;Ă&#x2039;Ă&#x160;Ă&#x2C6;Ă&#x2122;Ă&#x17D;Ă&#x203A;Ă&#x160; §Ă&#x201D;Ă&#x2020;Ă&#x2014;Ă&#x2030; Ă&#x201D;Ă&#x2039; ŠĂ&#x17D;Ă&#x2014;Ă&#x160;Ă&#x2C6;Ă&#x2122;Ă&#x201D;Ă&#x2014;Ă&#x2DC;

a6D Ă&#x160;ĂŻÂŤ Ă&#x160;Ă&#x17E;ïè ž Ă?ãÌðùâï ¼žòùüÏ Ă&#x160;ĂŻÂŤ Ă&#x160;ĂŚĂ ĂĽĂ&#x17E;âÊ Ă&#x2C6;ÂŤ Ă&#x2030;ÏïâÊÊÌ ÂĽĂ&#x192;ÏïâôÏïåŒ ;l T _L;O`;I'V 6 b;$TE+S 6 a'E*LE T * ¼žïà üÌùâà ùòï⌠9Wg_MCTRLC%O* ¿ÏĂ&#x17E;ĂŻĂĄ ĂŹĂŁ à Ìïâà ùÏïð `GR$TE`< *`D$M; T9WgÂŞ'ITCES<>V6 -O<ERMI T*$EEC$TEbM _$V6'ITC-S6_+; Ă&#x201A; Âş ĂŞĂ ÂŻ _= ;LC$TEOS;9E*@GS*OS;;lT CT.Xg*'ITCLSC@S;: ERMI T*CIG`GR@GS**T; CS;b- _IGT_@WD*- I*+S*MIR_6WDI%O*OS+,EVDR b;$TE;lT`;I'ITC'V6%Sh;L[*%O*'ITCLSC@S;: ;Sh;c=L[ $TE;lTCTb- +EV*b;9T*=1V<S7V LVg*;Wh_$V6 %Xh;MGS*+T$'ITC_% Tb+b;= ++SD`7 GROD T* CTMGTDJ7IEEKa6D=ETJ+T$L[7E9WgLTCTE8 ;lTCTb- .Ă&#x2030;Ă?´MEYO `;I'V6b;$TE+S6a'E*LE T* LlTMES<$TE'T6$TE5 '5R$EEC$TE<EVMTE$f _- ;$S; _ET7 T*_% Tb+b;'ITCLlT'SÂ&#x2030;%O*= ++SD 7 T*e %O*$TE6lTE*OD[ %O*'5R cC I T+R_= ; $TE$lT$S<6[`G9Wg6W $GDZ9: 9Wg9 T9 TD $TE_GYO$ Ă&#x20AC;Ă&#x201A;Ă&#x152; `GROYg;e `GR7O;;Wh b;M;S*LYO žà ïÏðð ùüâ ¿ÏĂ&#x17E;ĂŻĂĄ Ă&#x160;ĂŻÂŤ Ă&#x160;Ă&#x17E;ïè ž Ă?ãÌðùâï c6 8O6EMSL `;I'V 6 b;$TE+S 6 a'E*LE T *9Wg . O ;OD[ @ E O C 9Sh*_-YgOCaD*O*' =ER$O<@Yh;2T;_= ;LC$TE O;T'7`GR;Sg ; +R_= ; LVg * 9Wg L TCTE8;l T CT =ERDZ $ 7 b - _ @Yg O LE T *MEY O =ER'S < =ER'O* '5R$EEC$TE<EVMTEb;IS;% T*M; Tc6 OD T*CW =ERLV9:VBT@ ÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞ

the individual factors, but without a repeatable formula, or `architecture,â&#x20AC;&#x2122; to bring predictability. Boards are no different.

We all understand the importance in the individual factors of our Board existenceâ&#x20AC;Ś good governance oversight, challenging and endorsing strategy, CEO selection, and the like. Now, in `Across The Board,â&#x20AC;&#x2122; Mark A. Pfister decodes the underlying architecture and ties the foundational elements into a futuristic equation that can be effectively applied to create, or reinvigorate, tomorrowâ&#x20AC;&#x2122;s Boards.

--------------------------------------------------

ÂŚĂ&#x2C6;Ă&#x2014;Ă&#x201D;Ă&#x2DC;Ă&#x2DC; šĂ?Ă&#x160; §Ă&#x201D;Ă&#x2020;Ă&#x2014;Ă&#x2030;Â&#x; šĂ?Ă&#x160; ²Ă&#x201D;Ă&#x2030;Ă&#x160;Ă&#x2014;Ă&#x201C; ÂŚĂ&#x2014;Ă&#x2C6;Ă?Ă&#x17D;Ă&#x2122;Ă&#x160;Ă&#x2C6;Ă&#x2122;Ă&#x161;Ă&#x2014;Ă&#x160; Ă&#x2021;Ă&#x160;Ă?Ă&#x17D;Ă&#x201C;Ă&#x2030; Ă&#x2020;Ă&#x201C; ÂŞĂ&#x2039;Ă&#x2039;Ă&#x160;Ă&#x2C6;Ă&#x2122;Ă&#x17D;Ă&#x203A;Ă&#x160; §Ă&#x201D;Ă&#x2020;Ă&#x2014;Ă&#x2030; Ă&#x201D;Ă&#x2039; ŠĂ&#x17D;Ă&#x2014;Ă&#x160;Ă&#x2C6;Ă&#x2122;Ă&#x201D;Ă&#x2014;Ă&#x2DC;

by Mr. Mark A. Pfister (Author), Mr. Michael K. Lorelli (Foreword) E = mc2 was a powerful equation that brought order to the interrelationship of mass and energy. It took one stroke from a genius to bring a higher-order perception of the relationship to practical terms - this after centuries of understanding

B o a r d r o o m | 45

Board Activities

Œ¸ªŒ³ ¨ ¸Ă&#x2C6;Ă&#x201D;Ă&#x2014;Ă&#x160;Ă&#x2C6;Ă&#x2020;Ă&#x2014;Ă&#x2030; ÂŞĂ?Ă&#x2022;Ă&#x160;Ă&#x2014;Ă&#x2122; ²Ă&#x160;Ă&#x160;Ă&#x2122;Ă&#x17D;Ă&#x201C;Ă&#x152; ĂšÂ&#x2122;ĂşÂ&#x161;ĂšÂ&#x17E;

7Sh*`7 IS;9Wg ÂŻÂľ $ZCBT@S;: +;8X*IS;9Wg ÂŽ CW;T'C ¯²³¯ LCT'CL *_LEVCL8T<S; $EEC$TE<EVK9S c9DÂĽĂ&#x2020;Ă&#x152;Ă ÂŚc6 _= ;_+ TBT@b;$TE+S6*T;=ER-ZC žĂ?Ă&#x201A;žĂ&#x2039; Ă&#x20AC;Ă&#x201E; Ă?à Ïïâª Ă Ă&#x17E;ĂŻĂĄ Ă&#x201A;þíâïù Ă&#x160;ââùÌÍä Ž¯­Žœ 5 Ă&#x2020;Ă&#x152;Ă Ă&#x160;âêĂ&#x;âï Ă?Ă­Ă&#x17E;à â a6DCW7SI`9; Ž² 9 T; +T$ ² =ER_9J OS;c6 `$ LV*'a=E Š CT_G_.WDŠ OV;a6;W_.WDŠ A GV== ;L `GRc9D _% TE IC$TE=ER-ZCb;'ESh*;Wh_@YgOER6C'ITC'V6b;$TE`$ c%IV:W$TEbM 'R`;;b; žĂ?Ă&#x201A;žĂ&#x2039; Ă&#x20AC;Ă&#x201E; Ă?à Ïïâà Ă&#x17E;ĂŻĂĄÂŤ ÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞ On 28 February to 1 March 2019, Thai IOD hosted ASEAN CG Scorecard Expert Meeting 1/2019 at IOD Member Space. There are 15 representatives from 5 countries which are Singapore, Malaysia, Indonesia, Philippine, and Thailand came to have meeting in this time for brainstorming to revise the methodology in scoring ASEAN CG Scorecard.

ŽŠ ¨Ă&#x2018;Ă&#x161;Ă&#x2021; ÂłĂ&#x160;Ă&#x2122;Ă&#x153;Ă&#x201D;Ă&#x2014;Ă?Ă&#x17D;Ă&#x201C;Ă&#x152;

_CYgO_Df;IS;9Wg ° _CKTD; ¯²³¯ LCT'C L *_LEVCL8T<S;$EEC$TE<EVKS9c9D ÂĽĂ&#x2020;Ă&#x152;Ă ÂŚ c6 +S6 *T; Ă&#x2020;ÍåâíâÍåâÍù à Ìïâà ùÏï Ă&#x20AC;ÊòĂ&#x; Ă&#x2039;âùôÏïèÌÍä .X*g c6 E<S _$WDE7V+T$'Z5O;ZI4S ; E ICLZ% $EEC$TE >[ +S6$TE`GRMSIM; T? TD7GT69Z;+T$<EVKS9 9Z;BS9E +lT$S6 ÂĽCMT-;ÂŚ b;$TE@[6'ZD_EYgO*$TE .YhOMZ ;'Y; ÂĽĂ&#x2018;ïâĂ&#x17E;ðòïÜ Ă?ùÏà èŒ 5 Ă&#x2020;Ă&#x152;Ă Ă&#x160;âêĂ&#x;âï Ă?Ă­Ă&#x17E;à ⍠ªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªª On the evening of 3rd April 2019 IOD organized Independent Director Club Networking which honor by Mr. Anuwat Ruamsuke, Managing Director, Head of Capital Markets, Phatra Securities to give the special talk on Treasury Stock at IOD Member Space.

46 | B o a r d r o o m

ÂŚĂ&#x2DC;Ă&#x17D;Ă&#x2020;ĂľĂ&#x2DC; ÂŤĂ&#x17D;Ă&#x2014;Ă&#x2DC;Ă&#x2122; ÂŞĂ?Ă&#x2022;Ă&#x160;Ă&#x2014;Ă&#x17D;Ă&#x160;Ă&#x201C;Ă&#x2122;Ă&#x17D;Ă&#x2020;Ă&#x2018; ¨Ă&#x201D;Ă&#x201C;Ă&#x2039;Ă&#x160;Ă&#x2014;Ă&#x160;Ă&#x201C;Ă&#x2C6;Ă&#x160; ÂľĂ&#x2014;Ă&#x17D;Ă&#x203A;Ă&#x17D;Ă&#x2018;Ă&#x160;Ă&#x152;Ă&#x160; Ă&#x2039;Ă&#x201D;Ă&#x2014; Ž´Š ²Ă&#x160;Ă&#x2019;Ă&#x2021;Ă&#x160;Ă&#x2014;

L C T ' C L * _ L EV C L 8 T <S ; $EEC$TE<EVKS9c9D ÂĽĂ&#x2020;Ă&#x152;Ă ÂŚ E ICCYO $S< Ă?Ă&#x2020;Ă?Ă&#x201A; žà à âÊâïĂ&#x17E;ùÏï +S6*T; Ă&#x20AC;ĂŹĂŻĂ­ĂŹĂŻĂ&#x17E;ùâ Ă&#x2020;ĂŤĂŤĂŹĂłĂ&#x17E;ùÌÏÍ Ă?òêêÌù ¯­Žœ .Xg**T;;Wh;S<_= ;*T;LSCC;T E[ = `<<bMC 9Wg _ ; ; $TE96GO* =1V<S7V'ESh*`E$%O*_O_-WD9WgEI<EIC >[ ;l T O*' $ E`GRM; I D*T;%O*ES 2 +T$9Sg I 9Sh * _O_-W D 7RIS ; OO$_,W D * b7 a6D>[ _% TE IC$TE=ER-ZC;Whc6 CW aO$TLOD[ 9 TC$GT*_'EYO% TDER6S< aG$%O*>[ ;lT;IS7$EECO*' $E7 T*e >[ _ -Wg D I-TÂ&#x2030;6 T ;;IS 7 $EECO*' $ E <EVKS99WgCW_9'a;aGDW-Sh;;lT`GR<EVKS9 Ă?ĂąĂ&#x17E;ïùòí 9WgCWOS7ET$TE_7V<a7OD T* EI6_EfIb;- I*_IGT ÂŻ IS;9Wg_7fCc=6 ID =ERL<$TE5 `GRLBT@`I6G OC9Wg _OYhO7 O$TE_=GWgD;`=G*c=L[ `;I'V6 9Wg.Xg*%S<_'GYgO;;IS7$EECO*' $Ec6 +EV* b;IS;9Wg ¯´ª¯œ CW;T'C ¯²³¯ 5 _.f;9TET`$E;6 `O;6 <T*$O$ 'O;_I;-S;_.f;_7OE ÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞ Corporate Innovation Summit 2019 great collaboration between Thai Institute of Directors (IOD) and RISE Accelerator on March 27-29, 2019 at Centara Grand and Bangkok Convention Centre. It is the Asiaâ&#x20AC;&#x2122;s Asiaâ&#x20AC;&#x2122;s First Experiential Conference, where we gather corporate and government leaders from across Southeast Asia. Participants immersed themselves with a global network of innovative corporate leaders, corporate innovation experts, leading tech companies, and fast-growing startups in a 2-day highly experiential, Asia hands-on environment to learn and transform the mindset that drives actionable corporate innovation.

¨ª´ ¨Ă&#x2018;Ă&#x161;Ă&#x2021; §Ă&#x2014;Ă&#x2020;Ă&#x17D;Ă&#x201C;Ă&#x2DC;Ă&#x2122;Ă&#x201D;Ă&#x2014;Ă&#x2019; ÂŞĂ&#x203A;Ă&#x160;Ă&#x201C;Ă&#x2122;

- I*_Df;IS;9Wg ÂŻÂą _CKTD; Ă&#x2020;Ă&#x152;Ă c6 +S6$TE=ER-ZCbM `$ Ă&#x20AC;Ă&#x201A;Ă&#x152; ÂĽĂ&#x20AC;üÌâã Ă&#x201A;ÍäĂ&#x17E;äâêâÍù Ă&#x152;ããÌà âïŒ .Xg*_= ;7SI`9; Ă Ă&#x20AC;Ă? b;`7 GREZ ; _@YgOE IC$S;IT*`>;+S6$V+$EECbM `$ _@YgO;LCT-V$ bM c6 $GS< CT@<=RLS*LEE' $S;a6DCW Ă&#x20AC;Ă&#x201A;Ă&#x152; `GR>[ <EVMTE Ă&#x2020;Ă&#x152;Ă CT_= ;>[ - ID 6lT_;V;$TE=ER-ZCb;IS;;Sh; 5 Ă&#x2020;Ă&#x152;Ă Ă&#x160;âêĂ&#x;âï Ă&#x2030;Ïòä⍠ªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªª IODâ&#x20AC;&#x2122;s CEO and Executive gather together with Chief Engagement Officer (CEO) who were representatives of DCP in each class in order to brainstorm about building up DCP network on 24 April 2019 at IOD Member Space, 5th Floor, Gaysorn Plaza

B o a r d r o o m | 47

Member Corner

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MEMBER CORNER Ž³¯­­¯ %Xh;6lTE*7lT`M; *EO*=ER:T;'5R $EEC$TE<EVMTE%O* <EVKS9 9E[ 'OE =O_E-Sg; +lT$S6 ÂĽCMT-;ÂŚ a6DCW 6EÂŞ$V77V5S2 9W'RIEE5 Ă Ă&#x20AC;Ă? ¯´³¯­Žœ _= ; $EEC$TE>[ +S6$TEbMÂ&#x2030; ÂĽE ICÂŚ ES<>V6-O<LTD*T;@T5V-D ÂĽĂ&#x20AC;Ïêêâïà ÌĂ&#x17E;ĂŠÂŚ `GR 'Z5JVEV@+; 'Z5T$E@S;:Z Ă&#x20AC;Ă&#x201E;Ă&#x201A; ¾¯­Ž´ _= ; $EEC$TE>[ +S6$TEbMÂ&#x2030; ÂĽE ICÂŚ ES<>V6-O< LTD*T;=0V<S7V$TE ÂĽĂ&#x152;íâïĂ&#x17E;ùÌÏ͌ a6D+RCW>G 7Sh*`7 IS;9Wg ÂŽ CW;T'C ¯²³¯ â&#x20AC;˘ 'Z5OVJEJS$6Vk _9JES7;I*J Ă Ă&#x20AC;Ă? Ž´¯¯­Ž° %Xh;6lTE*7lT`M; * =ER:T;_+ TM; T9Wg<EVMTE $GZ C<EVKS9 _OcO+W =ER_9Jc9D OD T*_= ;9T*$TE7Sh*`7 IS;9Wg ÂŽ CW;T'C ¯²³¯ â&#x20AC;˘ 'Z5OEVDR @;CD*'k Ă Ă&#x20AC;Ă? ¯´Ž¯­Žœ %Xh;6lTE*7lT`M; * $EEC$TE>[ OlT;ID$TE <WOW.W_IVG6 +lT$S6 ÂĽCMT-;ÂŚ EIC 9Sh*_= ;$EEC$TE<EVKS9 a6DCW>G7Sh*`7 IS;9Wg ÂŻ @FKBT'C ¯²³¯ â&#x20AC;˘ @S;_O$¤@V_JKÂĽ 6EÂŞ_+WDE;SD I*J LOT6 Ă Ă&#x20AC;Ă? Ž¹¯¯­ŽŽ `GR;T*LTI$VEV0T _BT@V+V7E Ă Ă&#x20AC;Ă? ¯´¹¯­Žœ _= ;$EEC$TE:;T'TE OT'TEL*_'ETRM ÂĽ:OLÂŤÂŚ a6DbM CW>G7Sh*`7 IS;9Wg ÂŽÂŻ $ZCBT@S;: ¯²³¯ _= ;7 ;c= OD T*cE$f7 TC8 T9 T;cM;EZ ;cM;c6 ES< 7lT`M; *bMC e MEYO%Xh;ES<ET*ISG7 T*e $fOD TGYC L *% TICTbM 9T* Ă&#x2020;Ă&#x152;Ă _@YgO9Wg_ET+Rc6 _%WD;`L6* 'ITCDV;6WG*b; ¿ÏĂ&#x17E;ĂŻĂĄĂŻĂŹĂŹĂŞ _@YOg bM _@YOg ;LCT-V$ 9ET<a6D9SgI$S; .Xg*9 T;LTCTE8L *% OC[GCT 9T*OW_CG ðòùüÌÍââ½ùüĂ&#x17E;ĂŚÂŞĂŚĂŹĂĄÂŤĂ ĂŹĂŞ ÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞ

IOD would like to take this opportunity to congratulate our members and alumni for being awarded in my fields from different stages. First, we would like to congratulate ²Ă&#x2DC;Â&#x2DC;¸Ă&#x161;Ă&#x2022;Ă&#x2020;Ă&#x2122;Ă&#x2122;Ă&#x2014;Ă&#x2020; ÂľĂ&#x2020;Ă&#x201D;Ă&#x2022;Ă&#x17D;Ă&#x2020;Ă&#x2019;Ă&#x2DC;Ă&#x2020;Ă&#x2022;, DCP 264/2018, Deputy Chief Executive Officer of Pruksa Holding Public Company Limited for receiving the International Quality Management Award, Diamond, in Paris, France. â&#x20AC;˘ ²Ă&#x2014;Â&#x2DC; ÂľĂ&#x17D;Ă&#x2122;Ă&#x17D; šĂ&#x2020;Ă&#x201C;Ă&#x2122;Ă&#x2020;Ă?Ă&#x2020;Ă&#x2DC;Ă&#x160;Ă&#x2019;, DCP 202/2015, Chief Executive Officer of TMB Bank Public Company Limited received the Customer Focus Award at the awards ceremony for the best Thai business organizations organized by the University of the Thai Chamber of Commerce in collaboration with Business +

²Ă&#x2DC;Â&#x2DC; ÂľĂ?Ă&#x2020;Ă&#x153;Ă&#x2020;Ă&#x201C;Ă&#x2020; ÂłĂ&#x17D;Ă&#x160;Ă&#x2019;Ă&#x2018;Ă&#x201D;Ă&#x17E;

Ms. Nidcha Jirametthanakij

Mr. Yodphot Wongrukmit

magazine. â&#x20AC;˘ ²Ă&#x2014;Â&#x2DC; šĂ?Ă&#x160;Ă&#x160;Ă&#x2014;Ă&#x2020;Ă&#x2030;Ă&#x160;Ă? °Ă&#x160;Ă&#x2014;Ă&#x2030;Ă&#x2DC;Ă&#x2020;Ă&#x2019;Ă&#x2020;Ă&#x201C;Ă&#x152;, DCP 240/2017, Chief Executive Officer Pruksa Real Estate - Town House Business Group, Pruksa Real Estate Public Company Limited, won the Thailand Top Company Awards 2019 in the category of Top Management Award. â&#x20AC;˘ ²Ă&#x2DC;Â&#x2DC;ÂźĂ&#x2020;Ă&#x2018;Ă&#x2020;Ă&#x17D;Ă&#x201C;Ă&#x161;Ă&#x2122; šĂ&#x2014;Ă&#x17D;Ă&#x203A;Ă&#x17D;Ă&#x2DC;Â&#x2014; Ă&#x203A;Ă&#x2020;Ă&#x203A;Ă&#x160;Ă&#x2122; , DCP 201/2015, Managing Director of TTW Public Company Limited received Thailand Top Company Awards 2019 Award of Excellence in the category of Fast Growing Company Award for the fourth time. â&#x20AC;˘ ²Ă&#x2014;Â&#x2DC;ÂťĂ&#x17D;Ă&#x2014;Ă&#x201D;Ă? ²Ă&#x160;Ă&#x160;Ă&#x201C;Ă&#x2020;Ă&#x2022;Ă?Ă&#x2020;Ă&#x201C;Ă&#x2122;, DCP 185/2014, Senior Executive Vice President of Corporate Governance and Corporate Relations of Thai Oil Public Company Limited,

Ms. Suwimol Chaluaydumrong

Mr. Somkiat Masunthasuwun

Mr. Singha Nikornpun & Ms. Preeyanart Soontornwata

Mr.Wirawat Panthawangkun

Mr. Chansin Treenuchagron

B o a r d r o o m | 49

received the Thailand Top Company Awards 2019 in the energy industry.• ²Ø µ×ÊÊÞÆÓÆ×Ù ¸ÔÔÓÙÔ×ÓÜÆÙÆ DAP 123/2016, Chief Executive Officer B.Grimm Power Public Company Limited, received the Most Innovative Deal Award from the Bond Association. • ²Ø µÍÆÜÆÓÆ ³ÎÊÒÑÔÞ, DCP 71/2006, President of the Legal Officer Bank of Ayudhya Public Company Limited received the Platinum Award - Excellence in Environmental, Social, and Corporate Governance for the third consecutive year. • ²Ø ³ÎÉÈÍÆ ¯Î×ÆÒÊÙÙÍÆÓÆÐÎÏ DCP 206/2015, Senior Executive Vice President in Accounting and Finance of IRPC Public Company Limited won the International Finance Awards 2018: Best CEO in the Energy Sector. • ²× ¸ÔÒÐÎÆÙ ²ÆØÚÓÙÍÆØÚÜÚÓ, DCP 176/2013, Senior Executive Vice President, Business Development and Corporate Strategy of Global Power Synergy Public Company Limited, was awarded the Most Innovative Power Company - Thailand at the International Finance Awards 2018. • ²× ¨ÍÆÓØÎÓ ¹×ÊÊÓÚÈÍÆÌ×ÔÓ DCP 85/2007, President and Chief Executive Officer, PTT Public Company Limited, won 2 awards for good corporate governance, namely the Asia’s Icon in Corporate Governance for the 14th consecutive year, and the Asian Corporate Director Recognition Awards organized by the Corporate Governance Asia Magazine (Corporate Governance Asia). • ²× ¾ÔÉÕÍÔÙ Wongrukmit, DCP 111/2008, Senior Executive Vice President Organizational Development and Management Division, Bangchak Corporation Public Company Limited, received 2 awards at Global Good Governance (3G) Awards 2019: the 3G Best CSR Award 2019 for the 2nd consecutive year ,and the 3G Best Green Initiative Award 2019 which was organized by Cambridge IFA International Financial Advisory in Jakarta, Indonesia. • ²Ø ¸ÚÜÎÒÔÑ ¨ÍÆÑÚÆÞÉÚÒ×ÔÓÌ CRP 22/2018, Corporate Affairs Manager,

²× ¦×ÎÞÆ §ÆÓÔÒÞÔÓÌ

¨ÔÑ ¯ÊÆ×ÆÓÆÎ »ÔÓÌØÆÆ×É

²× ®ØÔ×ÆØÆÐ ¹ÍÊØ×ÆÙÆÓÆÛÔÓÌ

²× ¸Î×ÎÕÔÏ °ÚÓÆÐÔ×ÓÕÍÆÓ

²Ø °Î×ÎÉÆ §ÍÆÔÕÎÈÍÎÙ×

²× »ÎÈÍÆÔÜ ·ÆÐÕÍÔÓÌÕÍÆÎ×ÔÏ

Thai Oil Public Company Limited, received the award of TOP 50 ASEAN PLCs (TOP 11-30) for the second year at the 2nd ASEAN Corporate Governance Ceremony 2018, organized by Minority Shareholders Watch Group, an expert in corporate governance of Malaysia in Kuala Lumpur. • ²× ¼Î×ÆÜÆÙ µÆÓÙÍÆÜÆÓÌÐÚÓ, DCP 143/2011, Senior Vice President of Kasikorn Bank, received the Southeast Asia Brand of the Year 2018 from Agency of the Year organized by Campaign Asia Pacific magazine.

Commercial, and ²× ¸Î×ÎÕÔÏ °ÚÓÆÐÔ×ÓÕÍÆÓ, CGE 8/2017, as a President (Co) who is responsible for operation. This will be effective from March 1st, 2019. • ²× ®ØÔ×ÆØÆÐ ¹ÍÊØ×ÆÙÆÓÆÛÔÓÌ, DCP 172/2013, will officially become the Chief Executive Officer of the AIG Thailand from 1st March 2019. • ²× ¦×ÎÞÆ §ÆÓÔÒÞÔÓÌ DCP 271/2019, was appointed as president of BEC World Public Company Limited and director. This will be effective from May 2nd, 2019. • ¨ÔÑ ¯ÊÆ×ÆÓÆÎ »ÔÓÌØÆÆ×É DCP 142/2011 and ²Ø °Î×ÎÉÆ §ÍÆÔÕÎÈÍÎÙ× DCP 274/2019, were promoted as directors of the Government Housing ­· ²ÔÛÊÒÊÓÙ ¼ÍÔõØ ¼ÍÔ Moreover, IOD would like to congratulate Bank (GHB.) This will be effective from our members and alumni for their promotions. February 12th, 2019 onwards • ²× »ÎÈÍÆÔÜ ·ÆÐÕÍÔÓÌÕÍÆÎ×ÔÏ, DCP 16/ 2002, was promoted as a Vice President of If you are promoted or awarded, please the Board of Directors of True Corporation do not forget to inform us, so that we can Public Company Limited by having ©× congratulate you in Boardroom and spread °ÎÙÙÎÓÚÙ ¹ÎÐÆÜÆÓ, DCP 276/2019 as a the news to our members. You may contact President (Co) who is responsible for us via suthinee@thai-iod.com.

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

E-Boardroom Magazine To save the world with paperless solution

Welcome New Member

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52 | B o a r d r o o m

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Company Thai-Finnish Chamber of Commerce St1 Renewable Energy (Thailand) Co.,Ltd MJR Recycling B.V. Indorama Ventures Global Services Limited Silk Legal Co.,Ltd Airbus Group (Thailand) Co.,Ltd PT Indorama Polychem Indonesia PT Indorama Polychem Indonesia Ball Asia Pacific Limited Personal 4=ĂžCK1 WGWGDAĂż XG3. XGDY&&NWG1D #dL K. 4=ĂžCK1 W4W G= XG3. X;^ W ^3&O_ #dL K. 4=ĂžCK1 GN3Y9WDN= % #dL K. 4=ĂžCK1 &OW 8LAWAG= #dL K. ÂŹ;EL%3­ 4=ĂžCK1 WG^3GO8Ä&#x2039; GDK"EL=Ăž;1=K8< X?JGR/DLE ==; #dL K. ÂŹ;EL%3­ 4=ĂžCK1 GO8Ä&#x2039;ÂąW1 WA3W#G= D YH?.NÄ?" #dL K. 4=ĂžCK1 GN3W/G= W3%K_3X3? 4ND&NW3D GN3Y3WA%K_3D ÂŹ[1<X?3. ­ #dL K. 4=ĂžCK1 Y8?OW;G= ;L= W ^//NÄ?" .OWG^;&O&O #dL K. 4=ĂžCK1 #O&O ;L= W ^//NÄ?" Y&?S%K_3D #dL K. 4=ĂžCK1 WAĂž?. W9?^ & #dL K. ÂŹ;EL%3­ 4=ĂžCK1 4=Ăž L=3 dL;K3GL LB<L3 #dL K. 4=ĂžCK1 [1<GG<? WG1L3G? #L K. 4=ĂžCK1 =K%.L 4NDDNW3D .OD/=Ăž #dL K. 4=ĂžCK1 4?NDÂąW1? #dL K. ÂŹ;EL%3­ 4=ĂžCK1 5S3&NW;3/ [1< #dL K. ÂŹ;EL%3­ 4=ĂžCK1 =ĂżY3 ÂŹ5=JW1B[1<­ #dL K. 4=ĂžCK1 W43& G;==K%.L #dL K. D0L4K3 L=4N38?W=Ä G3 4=ĂžCK1 DO9 L?R;8Ä&#x160;3O #dL K. 4=ĂžCK1 Y8=W =D W&G= AĂžD &K88G= 1 #dL K. 4=ĂžCK1 4=ĂžEL=DN31=K8< DR Ä&#x2013;;AĂž1 #dL K. 4=ĂžCK1 W;G= W&G= ÂŹ5=JW1B[1<­ #dL K. 4=ĂžCK1 GL<D Y3WA%K3 #dL K. 4=ĂžCK1 -RBLBN=Ăž #dL K. ÂŹ;EL%3­ 4=ĂžCK1 8Ä&#x2039;1O1OGO8Ä&#x2039; W&G= AĂžDW&D #dL K. 4=ĂžCK1 4?NDÂąW1? #dL K. ÂŹ;EL%3­ PTTEP Hoang-Long Co.,Ltd -JX81<BLD/= Y="8<L4L?=L;L2N4.O ;ELAĂž1<L?K<;EN.?

4=ĂžCK1 D N?8LAWAG= W&G= AĂžD ÂŹ5=JW1B[1<­ #dL K. 4=ĂžCK1 W&^3 L= #dL K. 4=ĂžCK1 G;>/ XG3. XGDY&&NWG1D ?G<OD/N D #dL K. 4=ĂžCK1 =R"[1<ÂąXG & L 5=J K3%OAĂž/ #dL K. ÂŹ;EL%3­ 4=ĂžCK1 [1<<SW3O_<3 9Ä&#x192;.;N?? #dL K. 4=ĂžCK1 2==;Y%/N=K/3 #dL K. 4=ĂžCK1 WG^3X; & Y&? L= AK3 #dL K. 4=ĂžCK1 1O²&O²&O²W1 Y3Y?<O #dL K. 4=ĂžCK1 Y;4L< Y?#ND/N D #dL K.

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A==-%K< A==-8= AK%=Ăž3 AK3%K<=J4N3 AĂžA==23 AR,N%K< BN=W.% D>C.Nc DN=Ăž3" 3L( DR: N# DR=3N/< DR=BK .Nc DRAĂž%L G2NBL3/ G:N:S G:N=.O G G;Z# GL-K/N GdL[8

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D;L%N DL;K}4R ?

Position

Company

==; L= ==; L= ==; L= Board of Directors ==; L=6S GdL3A< L= W? L3R L=4=ĂžCK1 ==; L= ==; L=4=ĂžCK1 ==; L=GND=J ==; L= ==; L= ==; L= ==; L= ==; L= ==; L=6S #K. L= =G"5=J2L3 ==; L= ==; L=4=ĂžCK1 ==; L= ==; L=GND=J

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D;L%N DL;K}3N/4N R ?

Company

Name

GMO-Z Com Securities (Thailand) Limited Symphony Communication Public Company Limited 23L L= =R"W18 #dL K. ;EL%3­

Mr. Mr. 3L< 3L< 3L" .=² 8K3WG ÂŹ8Ä&#x160;WBC­ .=² 3L< 3L< 3L< 3L"DLA 3L" 3L< 3L< 3L" 3L< 3L< 3L< 3L< .=² 3L"DLA 8?WG

23L L=W8Ä?_G L=D "GG X?J3dLW LXE "5=JW1B[1< 23L L=GL L=D"W =LJE

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4=ÞCK1 [1<GG<? #dL K. ;EL%3­

Position Tatsuki Chi Kwan #=K;8= -K*8?

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Director Chief Operating Officer ==; L= ==; L=4=ĂžEL= AL;WDO_<" ==; L=D==ELX?J dLE3. L/G4X13 ==; L=23L L= ==; L=23L L= ==; L=GND=J ==; L=GND=J ==; L=GND=J W? L3R L=4=ĂžCK1 ==; L=GND=J ==; L=GND=J ==; L= ==; L=GND=J ==; L=GND=J ==; L= ==; L=GND=J ==; L=GND=J ==; L=GND=J ==; L=X?J ==; L=4=ĂžEL= AL;WDO_<" ==; L=GND=J

B o a r d r o o m | 53

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D;L%N DL;K}3N/4N R ?

Company

Name

4=þCK1 234R=ÿ WH?1 X = =R 5 #dL K. ¬;EL%3­ 4=þCK1 8> CL YH?.Nď" #dL K. ¬;EL%3­

3L"DLA 3L< 3L< 3L< 3L< 3L< 3L< Mr. 3L" 3L"DLA 3L< 3L"DLA 3L< 3L< 3L" 3L< 3L< 3L< 3L< 3L< 3L"DLA 3L< 3L" 3L< 3L< 3L< 3L< 8?Y1 3L< 3L< 3L" 3L< 3L< 3L< 3L< 6B².=² 3L< 3L"DLA 6B².=²38² 6B².=²

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4=þCK1 [=W.G= GN3%KA=K3D Y4= W G= #dL K. ¬;EL%3­

4=þCK1 W?W1^ & &NDW1;D #dL K. ¬;EL%3­

4=þCK1 D/L= ;K33O_ #dL K.

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4=þCK1 GR/DLE ==;8K31 L<3=DN"E DN3 L8č`3W;QG" #dL K.

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54 | B o a r d r o o m

Position 3?N3 G3RAK,3 8ċ=8?

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Position Debajit Robinder Shrikant Sushan % = ;?>1K< W C;L [ =B=Ăż #K31= W8^} #K31N=L #Ä&#x2013;+L8K%= W#C) DR:L %?:KDD=- %K<<R12 %OAĂž3 Y%/NBK .Nc -K*%L -K*8?

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D;L%N D;14 Company

Vice President Senior Vice President Global Commercial Head - Feedstock 6S % A<=G"5=J2L3 ==; L= Legal Director CFO 6S GdL3A< L=7 L< dL K4.SX?X?JW? L3R L=4=ĂžCK1 5=J2L3W# LE3 L1O_4=ĂžEL= 6S % A< ==; L=6S #K. L= 6S % A<W? L3R L=4=ĂžCK1 6S % A<=G" ==; L=6S #K. L=ZE} 6S 0QGER 3 6S % A<W? L3R L=4=ĂžCK1 6S % A<6S #K. L=1K_A[5 Associate =G" ==; L=6S #K. L=DL<"L34=ĂžEL= =G"G2N L=4.O . L3 L=8K,3L"L3ZE; X?J"L33AK/ ==; 6S % A< ==; L=6S #K. L= 6S #K. L=7 L< L=/?L. =G" ==; L=6S #K. L= 6S % A< ==; L=6S #K. L= Attorney Assist Vice President Senior Executive Secretary =G"6S #K. L= ER 3D A3 6S GdL3A< L=7 L< 6S GdL3A< L= DK" K.DdL3K /=A#DG4:L<Z3 ER 3D A3 AVP Counsel 83K "L3 6S GdL3A< L= 6S % A<=G" ==; L=6S #K. L=ZE} CFO =G"6S A L L= 6S GdL3A< L=7 L< L=W"Ăž3 6S #K. L= ==; L=6S GdL3A< L= Co-Chief Legal Officer ==; L=4=ĂžEL=Âą7 L<4=ĂžEL=

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B o a r d r o o m | 55

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