Succession Planning for Board Members and Operational Status
The Directors of Board are elected via the Shareholders’ Meeting in accordance with candidate nomination system adopted in the Company’s “Articles of Incorporation”. In the “Corporate Governance Best Practice Principles” and “Regulations for Electing Directors” stipulated that the composition of the Board of Directors should be diversified, also considering the Company’s operations, future development needs, professional capabilities.
The Company conducts succession planning for its Board of Directors and maintains a database of director candidates based on the following criteria:
- Integrity, responsibility, and experience in the industry related to the Company's business.
- Professional knowledge and skills that are consistent with the Company's core values and contribute to the management of the Company.
- The overall Board expertise should include operational judgment, accounting and financial analysis, business management, crisis management, industry knowledge, international market view, leadership, and decision-making ability.
- The selection process of the list of director candidates shall comply with the qualification examination and relevant regulations to ensure the effective identification and selection of suitable successor director when vacancies arise or when an increase in the number of directors is planned.
- To recognize the effectiveness of the Board's operations and to assess the performance of the directors by means of performance evaluation measures, which will be used as a reference for the future renewal of directors.
