Boardroom Vol. 56 Issue 1/2018 (Jan.-Feb.)

Page 1

Boardroom

Vo l . 5 6

Exclusively For Company Directors

Issue 01/2018 | ISSBN 1513-61755

BURNING ISSUES DIRECTORS

7

Content

Boardroom

Vo l . 5 6

Exclusively For Company Directors

ÂŁÂŽĂˆ ŸŸº ĂŠÂź

Board of Directors

Äš ĂƒĂŒÂźĂ‰Š ŸIJĂ?̟Ă?

Prof. Hiran Radeesri

´ŸĂˆÂąĂŠ² ĂŒijijĂŒºĚÉ IJĂŒĂ

Issue 01/2018 | ISSBN 1513-61755

Äš IJŸ Ă– Ă€ĂŒ°Ä? Ă–´à ĂŠ²²°Ä?

ÂŁĂ?ÂŽĂƒŠĂŒÂŚ §ªĂŠ ÀÉĴ²ĚĂŒÂźĂŒ¹ŸŸº

BURNING ISSUES DIRECTORS NEED NE ED TO HE HEAARR IN

²ĂŠÂť Ă” ŸĂŒ  Ă˜ Ÿ ÄśĂ?ÂźĂˆĂ•¡°Ä?

Honorary Chairman

Prof. Kovit Poshyanand

Khunying Jada Wattanasiritham Mr. Krik-Krai Jirapaet

TTHHE YE THE YEAR AR OF TTHHE HE DO DOG Vol. 56 Exclusively For Company Directors

Board Review Board Activities

Train the trainer & Thank you Facilitator IOD Staff Retreat DCP Orientation Class 251-255

ŸÅŒ´ŸĂˆÂąĂŠ² ŸŸº ĂŠÂź

Vice Chairman

²ĂŠÂŚĂ‚ĂŠĂ€ ¡Ĝ²Ă?ÂťÄ? ¹²Ă€ÂźĂŠ²ĂŒ§

Ms. Potjanee Thanavaranit

²ĂŠÂť ´ŸĂ?IJĂ? IJĂŠĂ€ĸĂŠÂť

ISSBN 1513-61755

Shareholders’ current movement and ways to engage them effectively Agenda for Auditor Appointment and Audit Fee Establishment for Thai Listed Company Adapt Ahead of the Curve Anti-Corruption Update Anti-Corruption in Practice

Chairman

²ĂŠÂť ´ŸĂˆĂ‚Ă‰ÂŽĂƒÄ? Ă”§Ă?Ă?Ă…¡ĂŠ²ĂŒ§

Issue 01/2018

Board Welcome CEO Reflection Cover Story Burning Issues Directors Need to Hear in the Year of the Dog !N@QC !QHDĹ°MF Social Responsibilities in Actiona Board Development

´ŸĂˆÂąĂŠ² ŸŸº ĂŠÂź

06 08 08

President & CEO

 ŸŸº ĂŠÂź

Director

²ĂŠÂŚ Ă” ĚŸĂŠ ºÉŠ§Ă?̟Ă?

Mrs. Kesara Manchusree

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

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

²ĂŠÂť ³ŸŸĜŒ ÄśĂŒijijÄ?ÕĜĊŒ

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

14 14

Mr. Predee Daochai

 ŸŸº ĂŠŸ¾Ă‘ĊÅĝÊ²Ă€ ĂŠÂź IJŸ ³ÉŽ­ĂŒÄł ²ĂŒĜ¯ĂŠĂ€Âź

05

Mr. Prasan Chuaphanich

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

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

Dr. Bandid Nijathaworn

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

Mrs. Nualphan Lamsam

Mr. Banchong Chittchang

Mr. Paiboon Kittisrikangwan

Mrs. Patareeya Benjapolchai Mr. Rapee Sucharitakul

Mr. Supattanapong Panmeechaow

16 16 20

ÂŁÂŽĂˆ ŸŸº ĂŠÂź ,DLADQ

Member Engagement Committee

(Boardroom)

Dr. Chatchavalit Saravari

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

²ĂŠÂť ÂŽ ¡Œà Ä? Ă‚Ă?ÂĄĂ‚ÂŚĂ€²

24 28 30 32 34 34 34 35

²ĂŠÂť ÂąĂ?ÂźĂˆÂťĂ?°¹ ijɲijŸĂŠ¡ž

²ĂŠÂŚĂ‚ĂŠĂ€ šĂ‰£§Ă‰ŠŠĂŠ §Ă?ÄłĂŒÂşĂŠĂ€ÂŚÄšÄ?

²ĂŠÂť ÀÉĴ²ĂŠ ĂƒžĂŠÂťĂ”¡ĂŒĂœº¡Ă‘²

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

(Boardroom)

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

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

Mr. Apiwut Pimolsaengsuriya

ÂŁÂŽĂˆÂľĂ‘ÄŠÄśĂ‰IJ°ĝĂŠ ÔĜĊʥŌ

Owner

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

Thai Institute of Directors Association

 Ă…Œ³ŸŸŽĂŠÂąĂŒ ĂŠÂź

Editorial Team

²ĂŠÂŚĂ‚ĂŠĂ€ ÄšĂŒÂźĂŒ¡Ÿ Ă€Ă?Ä´ĂŒ Ă?ž

Ms. Siriporn Wutthigul

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

Ms. Sarinee Ruangkongkiat

²ĂŠÂŚ Ă€ĂŒĂ˜žŸĂ‰ij²Ä? Ă”²ÄŠ²Ă•Ă‚Œ¹ŸŸº

Mrs. Wilairat Nensaengtham

²ĂŠÂŚ Ă€Ă?ŸÀŸŸŽ ºÉ²²ĂŠšĂŒ²Ă‰²°Ä?

Mrs. Wirawan Munnapinun

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

Ms. Suthinee Kerdchuay

ÂĝÊ²Ă‰ ŒĂŠ²ijĂŒIJijĉÅ

Contact

ĂƒÂşĂ‘Ä‰ Ă–£ŸŒ ĂŠŸ²Ă…ÂźÄ?¹´ĂŠÂźÄ?ÂŁ

Northpark Project,

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

Ă”ÂĄÄłĂƒžĂ‰ Ă‚Ă?Ăœ  ŸĂ?ÂŚĂ”°¡Ă‡

Thungsonghong, Laksi, Bangkok

Ă–°ŸĂ‚ĂŠÂź

Tel: (66) 2-955-1155

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

E-mail: sarinee@thai-iod.com

SBM class 1-2 Reunion Dinner The DCP’s CEO Club presents “Thursday Night Fever�

Member Corner Board Success Welcome New Members

35 36 37 38

Ă…ĂŠÂŁĂŠÂź Ă€ij° Ă…ĂŠÂŁĂŠÂź §Ă‰Ă?²

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

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

Vibhavadi-Rangsit Road,

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

Ă–°ŸĚÉ¡°Ä?

10210

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

E-mail: sarinee@thai-iod.com

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

ÀÉij¯Ă?´ŸĂˆĂ‚ÂŚÂŁÄ?

ėăĹ?ÙĉòĂÚĊâÄŒĂ™Ä‚ĂšÄŠĂœĂšÄ‡

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

42

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

Board Welcome

BOARD WELCOME

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$O*<EE5T:V$TE ÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞ Happy New Year 2018! The IOD Board Committee and employees are grateful that you attended our training and participated in variety activities organized by IOD. We hope that you will continue to join our other activities. This year’s first issue of Boardroom comes under the theme “Burning Issues Directors Need to Hear in the Year of the Dogâ€? to provide some guidance for you to steadfastly enter the Year of the Dog. It is undeniable that 2017 was a good year for investment especially in the highrisk asset like shares in stock markets which yielded positive returns in all regions. As we realized that you wanted to know the outlook for the economic trend of the world including Thailand in 2018, IOD had managed to invite experts from various areas to speak in this year’s first seminar in the topic of “Burning Issues Directors Need to Hear in the Year of the

Dog�. The event started with a keynote speech on urgencies and challenges for the government to continue for completion within the year by Dr. Kobsak Pootrakool, Minister’s Office Minister. A panel discussion on major changing trends was held after the speech and was led by Mr. Korn Chatikavanij, Former Minister of Ministry of Finance, Dr. Bandid Nijathaworn, President and CEO of Thai Institute of Directors Association (IOD), Dr. Supavud Saicheua, Managing Director and Head of Research of Phatra Securities Public Company Limited, and Dr. Mana Nimitmongkol, General Secretary, Anti-Corruption Organization of Thailand. The discussion was moderated by Capt. Yongyuth Mayalarp, Director of the Corporate Partnership and Social Responsibility Department at Phyathai 2 International Hospital and Former Spokesperson for the Prime Minister’s Office. You may read summary of discussed issues in our Cover Story. Our Board Development presents Agenda for Auditor Appointment and Audit Fee Establishment for Thai Listed Company to help prepare you in joining the upcoming meeting. Throughout this year, members who are interested in publishing your articles that would be beneficial to other members or who have suggestions for story ideas for Boardroom, please send your email to suthinee@thai-iod.com. Editorial Team

ÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞ

Boardroom | 5

CEO Reflection

G N.0P" ==; L=4=þCK1 Thoughts for Company Directors .=² 4K-+N/ 3N#0LA= Ú² ÉÖÌÑÌ ÑÒÉÜÐÉß×ÚÖ President & CEO Thai IOD

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6 | Boardroom

.=² 4K-+N/ 3N#0LA= Ú² ÉÖÌÑÌ ÑÒÉÜÐÉß×ÚÖ President & CEO Thai IOD

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Soon after the New Year, the Thai IOD arranged a director conference on “Burning Issues Directors Need to Hear in the Year of The Dog”, which took place on Thursday January 25. Many reputable speakers and gurus in various fields shared their views at the event; I personally spoke about a hot button issue for company directors in 2018. I told the audience that there clearly is disconnection between what’s going on in the business and economic realm and what is happening socially. For example, while the economy grows well, the business sector makes decent profit, and financial markets thrive, the majority of global citizens seem unhappy. The public sector in many countries is facing obstacles and constraints and seems unprepared to solve the problems. Meanwhile, the business sector becomes a ray of hope for changing society for the better. Such disconnections are driving the business sector worldwide to adjust and shift its focus to stakeholders value, rather than just profit maximization in order to gain public acceptance. This means the role of company directors will need to change accordingly:

Second, the board must be a Leadership Board, using its knowledge and skill to advice management to successfully meet important challenges facing the company. To this end, board will need to put greater emphasis on business strategy, risk management i.e. IT and Cyber security, and succession planning. Third, the board must give importance to stakeholders to ensure sustainable growth, i.e. having a sustainable business model that includes ethical business conduct, avoiding bribery or corruption.

These are what stakeholders, consumers, and investors expect from the board. Therefore, hot buttons on CG issue this year is the change in business mindset away from making short-term profit for shareholders to creating values for the company to ensure sustainable growth over the long run. In this regard, the IOD stands ready to assist companies in making such adjustment any way it can so as to lift the corporate governance standards of the Thai business sector. I would like to express my gratitude to all directors and IOD members for their First, company directors must aim to create continuous support to the IOD’s works. or add value to the company to ensure Thank you. continuous growth over the long term instead of generating maximum profit to --------------------------------------------------shareholders.

Boardroom | 7

Cover Story

Burning Issues Directors Need to Hear in the Year of the Dog

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Dr. Kobsak Pootrakool

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Mr. Korn Chatikavanij

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Dr. Supavud Saicheua

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Dr. Bandid Nijathaworn

Boardroom | 9

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IOD kicked off Year 2018 with IOD Director Briefing on the topic “Burning Issues Directors Need to Hear in the Year of the Dog� supported by New Hampshire Insurance Company or AIG. Dr. Kobsak Pootrakool, Minister’s Office Minister presided at the event. He said national GDP projection would grow at 4% this year and 4-4.5% in 2019. Thailand’s economy is seen on a recovery track. However, are urgent matters and challenges facing the country in preparation to the Thailand 4.0 policy.

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of 4G went successfully. The next step is to invest in a new the motorway, railway system network and high-speed train to connect Thailand with neighbor countries. 2. The development of the Eastern Economic Corridor (EEC), a pilot project for the economic development of Thailand’s Eastern Seaboard, renovation of U-Tapao airport for public use and the development of Laem Chabang Port Phase III as the port hub of Thailand and Indochina. 3. Social Gap Solution: the policy on social welfare for different groups of population nationwide is aimed at reducing income gap, poverty and inequality.

Capt. Yongyuth Mayalarp

4. Law and regulation amendment for transparency. Before ending his talk, Dr. Kobsak emphasized the importance of “cooperation from five sectors” comprising people, communities, universities, private sector and the government. Director of Corporate Partnership and Social Responsibility Department at Phyathai 2 International and Former government spokesman Capt. Yongyuth Mayalarp moderated the session comprising panel speakers as follow: Mr. Korn Chatikavanij, Former Finance Minister Disruption facing the Thai private sector in 2018 will mainly affect the following two socioeconomic aspects 1) Regional Urbanization as a result of rapid economic growth in neighboring countries. 2) Ageing Society which will be on the rise, raising a question of how to handle these two factors amid shrinking resources. Although technology can be an answer, it is not a one size fits all solution as long as people cannot thoroughly access technology. Economic infrastructure, particularly human resources skills and English skills of Thai people, has not yet been much developed.

As a result, the country still ranked 57 from Dr. Bandid Nijathaworn, President and 61 in terms of economic infrastructure CEO of Thai Institute of Directors development compared to the last 15 years. Amid changes in economic situation, private sector is seen as a shining hope for However, Thailand excels in “Hi Touch” the society and the country that can develop which involves human in sales process, and steer Thailand to the right direction. It meetings, discussions and negotiations, is necessary for private sector to adapt especially craftsmanship which cannot be themselves, and so do the directors in three compared anywhere. dimensions. At the end of the session, the former Finance Minister talks about seven essential factors which will bring Thailand good democracy: 1. election 2. political tolerance 3. rule of governing 4. freedom of expression 5 public responsibility 6. transparency and 7. power decentralization to the civil society

1. A new view towards business by adding value to the business 2. Directors should play a role as leadership board guiding knowledge to the management and prioritizing strategies, IT Security, Succession Plan, and Risk Management

Dr. Supavud Saicheua, Head of Research 3. Directors should pay more attention to all Group and Managing Director, Phatra stakeholders for business sustainability. Securities Public Company Limited Dr. Bandid gave his insight regarding Global economy showed a sign of recovery corporate governance (CG) in the private last year, leading to and increase in turnover sector that private sector should think among individual companies, thanks to outside the box, and change their business flexible financial policy and weak dollar. focus from short-term profit orientation to Looking back at Thailand, however, difficulties long-term business growth. remained due to declining trade system, failing Thai labor market leading to a Dr. Mana Nimitmongkol, director of the decrease in working-age population. Anti-Corruption Organization of Thailand (ACT)

B o a r d r o o m | 11

Corruption is a chronic problem worldwide. The worst situation is spotted in the Asia-Pacific region. Thailand ranked among the lowest in anti-corruption credibility following the Corruption Perception Index (CPI) with score of 35-38 points. It is almost impossible to wipe out corruption from Thailand due to lacking political will to solve the problem and governance, weak administration, rule of law and uncontrolled corruption behavior among authorities. People are obstructed to proactively counter corruption, monitor and report any wrongdoings. To eradicate the problem, anti-corruption work plan with the following actions are needed: • Civil participation into monitoring government budget allocation, particularly through the purchasing act and facilitation act. Create the atmosphere that enable active citizen to help solve such a chronic issue. • Transparency in the government sector is very much needed. Mechanism that enforces government officials to work with transparency should be put into place and that civil servants and officials at government agencies should take responsibility in fight corruption from within. -----------------------------------------------------------------------------------------------------------Event Supported by

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Senior CG Analyst Research & Policy Thai IOD

Senior CG Analyst Research & Policy Thai IOD

12 | B o a r d r o o m

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SOCIAL RESPONSIBILITIES

IN ACTION

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14 | B o a r d r o o m Û² ×ÜÒÉÖÍÍ ÐÉÖÉÞÉÚÉÖÑÜ

Mr. Banthoon Lamsam

The Thai Institute of Directors held its Chairman Dinner 2018 on February 8. Sponsored by Siam Industrial Cooperation Company Limited, the event was honored to have Mr. Banthoon Lamsam, Chairman and CEO of Kasikornbank Public Company Limited, give a talk on social responsibilities in action.

The government office proposed three approaches to deal with the encroachment: (1) the public sector need to understand the situation and its cause; (2) the public sector had to change its way of operating because the conventional approach no longer worked; and (3) the learning capacity needed to be enhanced to increase productivity for all relevant parties to Mr. Banthoon described “Passion in Action” maximize production under a limited area in the context of social responsibility based without encroaching on more forest area. on his personal experience. He studied the problem of an reserve forest in Nan As a result, Mr. Banthoon proposed Nan province which covered 85% of the total Sandbox, which is a collaboration with the land area of the province. According to a public sector to test the special bureaucratic survey conducted in 2016, more than 1.8 reform by using a forest in Nan as a goal. million rai (288,000 hectares) out of 6.4 If this approach were to work, it could million rai (1,024,000 hectares) were then be used as a model to deal with land lost (28% of total area of reserve forest). encroachment in other areas in Thailand. Ultimately, this loss can be attributed to capitalism in which villagers were --------------------------------------------------persuaded to grow maize for animal feed. The capitalism aspect can to tied to the Event Supported by seeds, fertilizer supply, credit and market involved in producing and selling the product. As a consequence, many villagers, encroachedon the reserve forest for farming. Actually, the real problem was 3L"DLABN=þ8= A"B W ÿ<A Û² ÑÚÑØ×ÚÖ ¡×ÖÏÓÍÉß that the farming area overlapped with the reserve forest area because the land that Senior CG Analyst Research & Policy villagers had lived on for more than100 year Thai IOD was declared as a reserve forest area by the law. It became the duty of the government officer to solve the land problem legally.

B o a r d r o o m | 15

Board Development

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Ll T MES < >[ ES < >V 6 -O<b;$TE_= 6 _>D % O C[ G $f ' IECW $ TEER<Z b M -S 6 _+;6 I D_- ; $S ; D$7SIOD T*_- ; =ER_6f;9Wg_$WgDI$S<$GDZ9: %O* <EVKS9 $TE$lT$S<6[`G $TELE T*C[G' TERDRDTI bM `$ <EVK9S MEYO<9<T9M; T9W%g O*'5R$EEC$TE >[E <S >V6-O<$f'IE+R7 O*_= ;$EEC$TE b;%5R9Wg Ă€Ă‚ĂŒ MEYO>[ <EVMTEER6S<L[* $f'IE+RES<>V6-O< 7 O 'l T 8TC.Xg * L I ;bM‰ CS $ +R_$Wg D I$S < ETD GR_OWD6b;_EYgO*%O*>G=ER$O<$TE 2T;R9T* $TE_*V; `GR_EYgO*7 T* e 9T*6 T;=1V<S7V$TE .Xg*MT$<EVKS9LTCTE8`< *`D$<9<T9M; T9Wg c6 OD T*-S6_+; % OC[G<EVKS99Wg_= 6_>DOO$L[ LT:TE5-;D OCCW'ITC8[$7 O* -S6_+; - IDG6 'ITC_LWgD*`GR= O*$S;cC bM _$V6'ITC_LWDMTD 7 O<EVKS9c6 CT$_GD9W_6WDI ÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞ One of the most important events for listed companies and the board of directors will arrive in one to two months. It certainly is annual general shareholders meeting of 2018. The meeting usually organizes during March and April each year. As the movement of shareholders and shareholder engagement have attracted a great deal of attention in many countries, I’d like to raise concern over the issue and share information with you to encourage listed companies and shareholders to perform their best inside and outside the meeting. Shareholders movement has become visible for a long period of time and it can be traced back to 1970 in the United States. The movement has expanded in accordance with the growth of the stock markets, the increase of the number of investors in institutions and the increase in power of shareholders supported by applicable laws and regulations. The high point of the movement came in 2001 with the scandalous

18 | B o a r d r o o m

incident involving creative accounting, fraud and embezzlement by board members and top executives of large corporations such as Enron, Tyco and WorldCom, in addition to stock markets plummet which occurred shortly afterwards. Both incidents drew on a tremendous negative image of large corporations in the eye of members of the public and became something that they had never ever seen before. Therefore, investors in the United States joined hands to closely and systematically monitor the performance of the board of directors and executives. In particular, big investors in institutions have developed strategies to redeem shares, to meet with board of directors and executives in private and to pressure the board of directors and executives through the use of media. Besides, they have utilized applicable laws to call for corporation among shareholders to propose additional agenda in shareholders’ meetings and to establish general agreements among shareholders in voting on important issues such as impeachment of the board of directors or executives with fraudulent practices, proposing plans for business improvement, supporting or opposing takeovers and counterattacking suspicious business plans by big shareholders.

remuneration for the board of directors. To alleviate shareholders’ dissatisfaction, the companies which faced such situation on a regular basis came up with the idea to offer souvenirs to shareholders who attended the meetings. As a result, some shareholders showed up at the meeting to collect the souvenirs rather than to focus on the performance or business direction of the companies while the companies needed to set the budget for gift giving which later turned into a common practice. Without souvenirs, shareholders complained. Moreover, cooperation among shareholders was limited to suing the board of directors or executives with fraudulent practices. Many times, shareholders acted too late as the deceivers had escaped out of the country and remained in foreign lands until after the lapse of the period of prescription. Some deceivers returned and regained their prestigious positioning in society.

The role of shareholders in Thailand focused narrowly around monetary returns, bypassing their other rights as “company owners�. If shareholders of a company paid close attention to the performance of the board of directors and executives, the company could have gained success in a long run and could have exceled far beyond companies with shareholders who wanted During the past many years in Thailand, to make short profits only and ignored the we’ve seen shareholders openly expressed performance of the management. their dissatisfaction when listed companies performed poorly or provided little dividend. However, Thai shareholders nowadays These shareholders asked a lot of questions have become much more active than in the and blamed the board of directors during past. Though the number of lawsuits against shareholders’ meetings especially during listed companies is not high comparing with the agenda to approve performance report, those in the United States and European the agenda to consider and approve the countries, there is a drastic change in appropriation of net profit and dividend shareholders behaviors. They become payment and the agenda to consider attentive in protecting their investment

and they are enthusiastic in studying and preparing themselves to ask questions in shareholders meetings. Their questions range from business direction, fraudulent practices, governance system to code of conducts and the questions have grown to cover variety issues. Apparently, the purpose of the attendance has shied away from collecting souvenirs which is in accordance with the results of the survey on souvenir giving by listed companies. The survey, conducted by the Thai Investors Association, revealed that 13.91 percent of listed companies gave souvenirs in 2017, decreasing from 81.23 percent in 2014. For this reason, the board of directors should alter their thoughts and behaviors in consistent with the changing shareholders’ level of participation. Members of the board of directors have begun to understand that shareholders’ concerns could be beneficial to corporations and that they should generate higher shareholder engagement level. The approach can help to make a better understanding and reduce pressure on listed companies. In addition, it can lead to opportunities and benefits for the companies as third parties may be able to point out risk factors or errors invisible to or overlooked by the board of directors.

89 percent of members of the board of directors agree to allow shareholders to engage in consultation with the organization. Accordingly, listed companies should define their principles in information disclosure that adheres to fairness in disclosing information to all shareholders equally and never allows any group of shareholders to benefit from the information more than another groups. Moreover, the principles should be in line with corporate policies in disclosing information to avoid internal contradiction. It is important to specify persons responsible on information disclosure and to establish corporate strategies, governance practices, long-term value generation as well as roles and duties of the board of directors. Assigned persons should be included in the board of directors while CEO or top executives should be responsible for answering questions which often involve details on performance, financial status and operation. Clearly defining roles and responsibilities can help listed companies to disclose information correctly and clearly while it can mitigate risks and prevent damage to the companies. ---------------------------------------------------

Guidelines for communicating and generating shareholder engagement effectively include distributing news updates and disclosing information correctly, consistently, transparently and sufficiently through convenient channels such as annual reports, company websites, shareholders’ annual general meetings, analyst meetings, investors’ opportunity days, road shows and company visits. A survey on opinions of participants in the IOD training on Board Matters and Trends (BMT) revealed that

3L"DLAW4}}L.L dL?K"WDQG ÚÛ² ÍÖáÉÌÉ ÝÕÔÝÖÏÛÝÉ Senior CG Specialist Curriculum / Director Development Thai IOD

B o a r d r o o m | 19

Board Development

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B o a r d r o o m | 21

One of the important agendas for shareholder’s annual meeting is involved with auditor appointment and audit fee establishment. Since it is essential for the shareholders to consider auditors’ qualifications under the framework of Corporate Governance Report of Thai Listed Companies (CGR), (1) name of auditor and company, (2) auditor’s experience, expertise and independence and (3) auditor fee, should be included in an invitation letter for shareholders.

2. Table 1: Audit fee comparison based on business types found that financial company (banking sector) paid the highest cost of audit fee at 19,330,000 baht while businesses in service sector such as tourism and recreation paid the lowest at 380,000 baht.

Following CGR’s evaluation, almost all of Thai listed companies thoroughly provided required information. However, those failing to do so means they still lack information about the auditor’s experience, expertise and independence. It is noted that some listed companies had provided retroactive information on auditor appointment and auditor fee establishment for the shareholder’s further consideration.

4. Table 3 showed that last year’s rate of audit fee for listed company increased by 4% average. The financial sector, consumer product sector and MAI had the highest rate. Meanwhile, farming and food sector, real estate and construction sector had a declining rate.

For auditor, the listed companies must deploy services from audit companies certified by the Securities and Exchange Commission (SEC). Up to 229 auditors from 27 companies have been certified. And the selection should be done based on knowledge, expertise, transparency, independence, together with occupational ethics.

3. Table 2: Audit fee comparison based on the stock’s value. It found that the fee increases in line with higher value of stocks in the market.

5. In 2017, there were 46 listed companies proposed to change the audit firm. Of the total, 21 of them had increasing cost of audit fee around 966,285.71 baht (78.31%), 19 had decreasing cost of audit fee around 892,845.16 (26.97%), and 6 of them had no change of audit fee cost. Key reasons to change for new audit company are mainly to circulate auditors and to expand business and oversee with new foreign executive team, making it switch to the audit firm in the group of Big4 in a bid to create confidence that the auditing quality was in line with the global standard.

Meanwhile, shareholders should take into account the auditor fee establishment. A survey done by the project of regulation The committee should prioritize the survey for listed Thai company in 2016 importance of auditor selection/audit firm found that: and set up a suitable audit fee. Meanwhile, such key information should also be 1. A total of 620 listed companies had a clearly stated in the invitation letter so that total audit cost of 1,302,846,847 baht. Of the shareholders would be able to consider total, 1,092,122,927 baht was for the listed and make an approval based on corporate company in SET and 210,723,920 baht for governance practice. MAI. The median of audit fee in 2017 was --------------------------------------------------1,570,000 baht and 2,101,366 baht for an 3L"DLA ;-O ;-OXD" average of audit fee. Û² ÉÖÍÍ ÉÖÍÍÛÉÖÏ CG Specialist Research & Policy Thai IOD

22 | B o a r d r o o m

B o a r d r o o m | 23 3

Board Development

ADAPT AHEAD OF THE CURVE

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=ER_9J9WgEI6_EfI%Xh; $TE_$V6bMC %O* ĂŠĂŹĂ´ÂŞĂ ĂŹĂ°Ăą ĂžÌïÊÌÍâð 9Wg9lTbM $TE_6V;9T*9 O*_9WgDI_= ;c=c6 LlTMES<9Z$'; OV;_9OE _;f79Wg_-YgOCaD*G[$' T `GR>[ >GV79SgIaG$bM OD[ _@WD*`' =GTD;VhILSC>SL EIC9Sh*$TE_% T8X*`GR$TE$ER+TD% OC[G7 T*e 9lTbM MGTDOD T*b;aG$_-YgOCaD*$S; OZ=L*' `GROZ=9T;%O*:ZE$V+b;=ER_9JcC c6 %Xh;OD[ $S< = ++SDb;=ER_9J_@WD*_9 T;Sh; G[$' T%O*:ZE$V+ E T;OTMTEb;$EZ*_9@Q cC c6 +lT$S6OD[ `' ';c9D MEYO';$EZ*_9@Q _9 T;Sh; `C `7 ;S$9 O*_9WgDI 7 T*-T7Vb;+S*MIS6B[_$f7$fLTCTE8CTES<=ER9T; OTMTE9WgE T;;Whc6 _- ;$S; `GR;S$9 O*_9WgDI_MG T;Wh $fLTCTE8`;R;lTMEYO<O$7 O_$WgDI$S<E T;;Whb; OV;_9OE _;f7c6 .Xg*+R_= ;$TE_@VgC$TE_% T8X* G[$' TbMC OW$CT$CTD6 ID MEYO`C `7 IS78Z6V< 9Wg9T*E T;b- OT+7 O*;lT_% T+T$7 T*=ER_9J _- ; =GT`.GCO; =GT9[; T _;YhOIT$VI >GcC MEYOLTME TD<T*=ER_B9 _= ;7 ; 6S*;S;h :ZE$V++X*+lT_= ;7 O*CO*M I*a. O=Z L*' `GRM I*a. OZ=9T;bM OO$ `GR'ODLS*_$7$TE5 OD[ _LCO 7 O*'OD6[I T= ++SDORcE< T*9WgL *>G7 O OZ7LTM$EEC9Wg:ZE$V+;Sh;OD[ _- ; OZ7LTM$EEC Ă?Ă€ O IC+T$_M7Z$TE5 ;lhT9 ICb;=ER_9Jc9D _CYgO= ¯²²³ `GR7 O*E[ I T= ++SDORcE9Wg+R_= ;BSD MEYO_= ;aO$TLbM $S<:ZE$V+ _- ; aO$TLb;$TE LE T*2T;$TE>GV7b;=ER_9J9Wg7 ;9Z;7lgTMEYO 'ODLS*_$7' T_*V;%O*`7 GR=ER_9J_@YgO7S6LV; b+I T'IE%DTD:ZE$V+c=7 T*=ER_9J> T;$TEL * OO$c=DS*=ER_9JcM; _= ;7 ;+RLE T*'ITC a66_6 ;ERMI T*=1V<S7V*T;c6 OD T*cE ÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞ

Long ago, nature taught us one rule, “survival of the fittest,� which describes the mechanism of natural selection in Charles Darwin’s theory of evolution. It states that the biggest or strongest aren’t necessarily those who are better equipped to survive; most important are possessing an ability to adapt. The history of economies has repeatedly made this point: those who survived through each economic era, from the earliest agricultural economies to today’s global and knowledge-based economies, are those who have best adapted to a changing environment. When talking about adaptability, many people refer to it as an ability to react well to change. However, in this fast-paced business world, waiting for changes to occur before reacting might be waiting until it’s too late. In this era, the traditional way of adapting oneself might not ensure survival. A surviving business must be able to sense even the weakest signals of change and then proactively adapt instead of waiting to react. Three factors a business should regularly sense and monitor in order to anticipate change are consumer behavior, technology and globality.

1. Consumer Behavior From economic history, one obvious

B o a r d r o o m | 25

observation shows that changes in consumer needs comprise one of the main factors that drive change in each economic era. Once basic functional needs like food and shelter are fulfilled, people seek ways to serve their unmet higher needs such as convenience automobile, telephone, etc.) and services (restaurants, hospitality, etc.). Consumer needs tend to follow Maslow’s hierarchy of needs, and our current economic era has risen far beyond meeting our bare necessities of life. As a result, businesses need to deliver new values above those that serve only functional and emotional needs. Consumers now have identity needs; they buy products that they feel represent themselves, not necessarily customized items but things that reflect their self-identity and values. This explains why some people choose to drink Starbucks coffee; some go only to DoiTung; and others are satisfied with street coffee kiosks next to their office buildings. These changes in consumer needs don’t occur suddenly. Signals will always appear before every change. The economic race goes to those who can sense change first and seize the opportunity to create new businesses.

2. Technology Not only are consumer needs changing quickly, but so is technology. Advanced technology helps operations to be more

26 | B o a r d r o o m

efficient, better, faster and cheaper. Increasingly rapid changes in technology over the past few decades have accustomed consumers to adopt new technology more quickly, whether it involves the newest model of camera, smartphone or software. In a virtuous or vicious circle, depending on one’s views, this faster consumer adoption of technology has accelerated the change; both lifecycles of technology adoption and product development are getting shorter. Therefore, monitoring new technology is necessary, not only the technology within one’s own industry, but also new technology used in other industries, which should be adopted if at all applicable. For instance, technology in the ICT sector has been used in service industries such as restaurants. Many restaurants in Thailand and other countries have begun replacing the traditional printed food menu with tablets for displaying choices. Some restaurants have gone as far as replacing waiters and waitresses with interactive software that allows customers to place orders directly on table screen.

globally with just one click, and worldwide accessibility and sharing of knowledge. Demand and supply for a domestic company no longer depend on domestic factors. The customers of a restaurant in Bangkok are no longer limited to Thai people or Bangkokians, but include tourists throughout the world. These tourists write reviews on tripadvisor.com and other websites that can attract new, untargeted customers (or scare them away). Even ingredients used in a local restaurant, such as salmon, tuna, Wagyu beef or a special type of seaweed, might be sourced from other countries.

Thus, a business should know its demandsupply chain perfectly and monitor it regularly, especially those factors that can affect its industry. For example, the PC industry was severely affected by the 2013 flooding crisis in Thailand. Business executives also need to know what factors may pose a threat or create opportunities, such as foreign currency fluctuation and the costs of local labor and raw materials. These factors can influence decisions of where and when to build a new factory and which export markets to enter or avoid. --------------------------------------------------3. Globality Since the beginning of globalization, a For more on topic, go to tanai.charinsarn. business could not survive without com connections to other parties. Everything in the world is now interconnected — more .=²23K< %=þ31= DL= liberal international trade, faster international Ú² ÉÖÉÑ ÐÉÚÑÖÛÉÚÖ IOD Chartered Director & logistics, emergence of low-cost airlines that Former management consultant with The Boston declare “now everyone can fly”, an internet Consulting Group and IBm that connects customers and suppliers Global Services

IOD Exclusive Program

Strategic Board Master Class

SBM

SBM 3/2018: 2 - 4 April 2018 (English Program in Bangkok)

How will your company survive and thrive in a rapidly changing world? Will you catch the waves of coming mega trends or miss them? Join us in the exclusive Strategic Board Master Class and find out how to shift to a higher gear in your boardrooms. Course Facilitators Facilitators: Dr. Tanai Charinsarn Mr. Christopher Hafner Chris Hafner is the founder and CEO of Traversant, Ltd. He serves as Lead Examiner for Strategy and Marketing at the Institute of Directors, UK, where he is a Fellow. He recently served on the University of Oxford, Saïd Business School’s Diploma & Accredited Programmes Committee for Strategy & Innovation. Chris is a Fellow, Trustee, and Chairman of the Board at the Strategic Planning Society. He also sits on the Board of Directors at the Association for Strategic Planning.

Dr. Tanai has been a professional trainer and a management consultant for more than 15 years.

A former management consultant with The Boston Consulting Group and IBM Global Services. He has been helping many organizations on their strategies, both private and public. Dr. Tanai holds a Bachelor of Engineering from Chulalongkorn University, a Master of Science from the University of Illinois at Urbana-Champaign, and a Doctor of Information Technology from the University of New South Wales.

B o a r d r o o m | 27

Contact us: 0 2955 1155 Ext. 406 Ms. Tanyaporn E-mail: tanyaporn@thai-iod.com

Anti-Corruption Update

=L<"L3 AL; LAE3 L =JEA L"W.QG3 ; =L ;± R;:L8K32 ´·¸û ¬ Ú×ÏÚÍÛÛ ÍØ×Úܼ ÉÖÝÉÚá± ÍÊÚÝÉÚá ´úûº­ W2@< @:4(M3J.M §ÓÐÐÉÇØÍÚÉ ¥ÇØÍÓÒ §ÓÅÐÍØÍÓÒ F!9K VF $2Z0;Y2 K<. F. K2 K<0Q"<ý. (Thai Private Sector Collective Action Coalition Against Corruption: CAC) a'E*$TE À¾À _EVgC7 ;= ¯²³® 6 ID$TE _6V ; LTD=ER-TLS C @S ; : E TDGR_OW D 6_$Wg D I$S < $ER<I;$TEES<EO*LlTMES<:ZE$V+=ER_B9 ÐÊ a6D_Gf * $GZ C _= T MCTD<EV KS 9 '[ ' T %O*<EV KS 9 %;T6bM 9Wg> T;ES<EO*`G I_= ;$GZ C`E$ a6D+S6 LSCC;T ÐÊ Âõâàòñæóâ ¿ïæâãæëä b;IS;9Wg ®± $ZCBT@S;: ¯²³® `GR ¯³ _CKTD; ¯²³® _+ T%O*<EVKS9 ÐÊ 9WgL;b++R7 O*G*9R_<WD; _% TA *_@YgOES<9ET<% OC[Ga'E*$TE$ O;+RG* ;TC=ER$TJ_+7;TEC5 ;O$+T$;Wha'E*$TE À¾À c6 +S69lT'[ CYOLlTMES<<EVKS9 ÐÊ ;lTc=b- =ER$O<$TE+S 6 9l T ER<<'I<'Z C BTDb;_@Yg O = O*$S;$TE+ TDLV;<;_<YOh *7 ; `GR ¾ëñæªßïæßâïö ªéâÞïëæëä @E OC`<<96LO<_@YgO_@VgC'ITCE[ 'ITC_% Tb+_$WgDI$S<LV;<; >G_LWD - O*9T*$TE bM L;V <; `GR% O'IEERIS*bM `$ <'Z GT$Eb;<EVK9S ÐÊ LTCTE8_% TCTb- *T;c6 a6DcC CW' Tb- + TD Ll T MES < <EV KS 9 9Wg _ 7EW D C'ITC@E O C`GREODYg ; %OES<EO* ÐÊ ;Sh; a'E*$TE À¾À +R_= 6ES< _O$LTE_@YgO%OES<EO*b;c7ECTL °¬¯²³® _= ;7 ;c= 9 T;9WLg ;b+LTCTE87V67TC% TILTE `GRETDGR_OWD67 T* e _@VgC_7VCc6 9Wg ôôô« ñåÞæªàÞà«àìê

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The Thai Private Sector Collective Action Coalition Against Corruption (CAC) began 2018 by disseminating the details of the certification process for small and medium enterprises (SME). It invited trade partners of large companies to attend a seminar entitled “SME Executive Briefing” on 14 February 2018 and 26 April 2018. Business owners interested in attending the seminar have to register and attend the seminar before signing a declaration. In addition, CAC also produced a manual for SMEs to use as a guideline for developing an internal control system to prevent bribery and for anti-bribery e-learning. It is hoped that through the manual, which is free, SMEs will gain knowledge and understanding about bribery, its negative effects and channels for bribery. It also includes remarks for personnel of SME companies. For companies that are preparing or are waiting for certification, CAC will call for the document from March 2018 onward. More information is available at www.thai-cac.com As regards to the citizen feedback system (a good society in two minutes) in phase 1 (September – October 2017), the summary showed that more than 2,350 people filled out the questionnaire via QR code within the specified four-week timeframe of operation. The data show that the public accepts the evaluation system based on the following aspects: 1) Convenience and easiness of filling out the survey through a smart phone.

The number of people who filled out the questionnaire through the QR code increased 90 times, as compared with the paper method used by public agencies.

provinces. This phase is expected to begin in September 2018. Phase 3 will begin in 2020 and include adding 100 more stations. The ultimate target is to adopt a citizen feedback system with the public agencies 2) Amount of data is sufficient to analyze nationwide in 2020-2021. and solve the internal problem of the public agency. This would not be possible with To date, 883 companies have signed a paper questionnaires due to the limited declaration to join anti-corruption with CAC. number of respondents. 460 of them are listed companies on the stock exchange. 314 companies have been 3) Public is more confident that the data certified and 197 companies are the listed processer is a private company and companies in the stock exchange. neutral. The information about asking or paying bribes is detailed and consistent CAC offers a number of activities and with real-life situations. service, including seminars and training programs; Anti-Corruption: The Practical 4) Positive feedback was given. Previously, Guide (ACPG), which is suitable for officials the public agencies only would receive responsible for setting up and running negative feedback from the public. internal control systems to prevent corruption in the company; the Ethical In December 2017, CAC sent a report to five Leadership Program (ELP), which helps public agencies to inform them about the directors and senior executives understand feedback and enable them to improve their how to push anti-corruption policy into services to become more efficient. corruption risk administration. All this information is available at www.thai-cac. In 2018, CAC collaborated with Office of the com. Please contact Khun Pattraporn Public Sector Development Commission for more information and applications at (OPDC) for phase 2 in order to increase the 02-955-1155 Ext. 216 number of QR code stations for the public --------------------------------------------------who come to the service points of the public agencies to scan and evaluate their 3L< N//NW.% $K31K" S? satisfaction with the service of the Ú² ÑÜÜÑÌÍÒ ÐÉÖÜÉÖÏÓÝÔ organization and indicate cases of bribery. Project Manager The service points are being selected Private Sector Collective and prepared. The target is set up 50 Action Coalition Against Corruption (CAC) points throughout Bangkok and adjacent

B o a r d r o o m | 29

Anti-Corruption in Practice

AL; Q4E3 L G" L=/ G/ L3 G= =K5%K3 :L WG %3Z35 úý Updates on Anti-Corruption Work with the Private Sector in 2017

b;= ¯²³­ 9Wg> T;CT $TE6lT_;V;$TE%O* BT'_O$-;_@YgOE IC`$ c%= MT'OE ES=-S;b;? * OZ=9T;CW'ITC'Y<M; Tb;MGTD e 6 T; a6D a'E*$TE`;IE IC=1V<S7V%O*BT'_O$-;c9Db; $TE7 O7 T;$TE9Z+EV7 ¥À¾À¦ LTCTE8%DTD _'EYO% TD:ZE$V+LROT6c6 _@VCg %X;h CW<EVK9S 9Z$ER6S< 9Sh * %;T6_Gf $ `GRbM + T$$GZ C :Z E $V + 9Wg M GT$ MGTDbM 'ITCL;b+LCS'E_% T_= ;`;IE IC_= ; +lT;I;CT$ b;%5R_6WDI$S; +lT;I;<EVKS99Wg> T; $TEES<EO*+T$'5R$EEC$TE À¾À I TCW$TE $l T M;6;aD<TD`GR`;I=1V <S 7V = O *$S ; $TE 9Z+EV7$f_@VgC%Xh;_EYgODe _- ;$S;

_Mf;I TBT'_O$-;c9D$lTGS*7Yg;7SI$S<=ER_6f; $TE7 O7 T;'OE ES=-S; .Xg*_= ;$ER`LaG$9Wg$lTGS* _$V6%Xh;`GR9IW'ITCLlT'S %Xh;_EYgOD e `GRBT' _O$-;$f 7 O *$TEE _ I C_= ; L I ;M;Xg * %O*$TE %S<_'GYgO;ER<<$TE9lT:ZE$V+b;=ER_9Jc9DbM a=E *bL =ETJ+T$$TE9Z+EV7'OE ES=-S; $TE9Wg<EE6T<EVKS9b;BT':ZE$V+_O$-; c9D7<_9 T_% TCTE IC_= ;LCT-V$ À¾À OD T*cC %T6LTD;Sh; 8YO_= ;'ITC7Sh*b++EV*9Wg; T-Yg;-C _@ETR$TEE IC=ER$TJ_+7;TEC5 _= ;`;IE IC $S< À¾À ;S;h cC c6 _= ;`7 $TE=ER$TJ_+7;TEC5 `<<=T$_=G T `7 DS*CW@S;:R>[$CS6I T<EVKS9+R 7 O*G*CYO9lT+EV*6 ID$TE$lTM;6;aD<TD `;I =1V<S7V `GRIT*ER<<= O*$S;$TE9Z+EV7BTDb; O*' $E_@YgOG6'ITC_LWgD*%O*$TE+ TDLV;<;9T* 6 T;OZ=9T;OD T*_= ;E[=:EEC6 ID

_CYgOLVh;= ¯²³­ +lT;I;<EVKS99Wg=ER$TJ _+7;TEC5 7 O7 T;$TE9Z+EV7c6 _@VgC%Xh;8X* µ² <EVKS9 _= ; µ´° <EVKS9 L I;<EVKS99Wgc6 =ER$TJ _+7;TEC5 ` GR> T ;$TEES < EO*+T$'5R $EEC$TE À¾À I TCW$TE$lTM;6;aD<TD`GR `;I=1V<S7V= O*$S;$TE9Z+EV7$f_@VgC%Xh;_= ; ¯µ° b;EO<= 9Wg> T;CT À¾À =ERL<'ITC <EVKS9 +T$ ¯­­ <EVKS9 _CYgOLVh;= ¯²²¶ LlT_Ef+b;$TE-S$-I;bM $GZ C:ZE$V+DT_% TCT_= ; `;IE IC`<<_= ;$GZ C a6DCW ° <EVKS9DTDS$K bM $TE9WgCW<EVKS9L;b+_% TE ICa'E*$TE `GR ER6S<aG$9Wg_= ;LCT-V$%O*LCT'C>[ IV+SD`GR > T;$TEES<EO*_@VgC%Xh;OD T*7 O_;YgO*;Wh `L6*bM >GV7_BLS-BS53 ¥ÍÏâʾ¦ c6 `$ ¾ðñâééÞð ÍåÞïêÞ

30 | B o a r d r o o m

¥ÑåÞæéÞëᦩ ¿ìâåïæëäâï Æëäâéåâæê ¥ÑåÞæ¦ `GR ËìóÞïñæð ¥ÑåÞæéÞëᦠCTE ICG*;TC=ER$TJ _+7;TEC5 _% TE ICa'E*$TE À¾À @E OC$S; b;*T;LSCC;T=ER+lT= %O* À¾À _CYgO_6YO; @FJ+V$TD;9Wg> T;CT $ O;M; T;Wh <EVKS99WgEIC7SI_% TCT=ER$TJ _+7;TEC5 $S< À¾À @E OC$S;_= ;$GZ C_- ;;Wh L I;bM +ROD[ b;BT'$TE_*V;_= ;MGS$ $TE9Wg :ZE$V+DT.Xg*8YO_= ;M;Xg*b;OZ7LTM$EECLlT'S b; BT'$TE>GV7>;X$$lTGS*$S;_% TCTE IC_= ;_'EYO % TD:ZE$V+LROT6 +R9lTbM $TE%S<_'GYgO;%O* À¾À LTCTE8LE T*'ITC_=GWgD;`=G*bM _$V6 %Xh;c6 OD T*_= ;E[=:EECCT$%Xh; `GR_-YgO`; I T b;ERDR7 Oc=+R7 O*CW:ZE$V+OYg;e EIC7SI$S;_% T CTE IC$S< À¾À b;GS$K5R;WhOW$CT$%Xh;_EYgODe b;= 9Wg`G I À¾À DS*c6 +S69lT <S;9X$% O7$G* 'ITCE ICCYO ¥ÊÌÒ¦ EI C$S< LCT'C:;T'TEc9D _@YgOLE T*`E*+[*b+bM <EVKS9:ZE$V+BT'_O$-;bM _% TCTE ICa'E*$TE À¾À a6DLCT'C:;T'TE c9D+RL * _LEV C bM L CT-V $ .Xg * _= ; :;T'TE @T5V-D %O*c9D9Sh*MC6 ®² :;T'TE @V+TE5T ;lT=ER_6f;$TE$lTM;6;aD<TD`GR`;I=1V<S7V

b;$TE7 O7 T;$TE9Z+EV79Wg-S6_+;%O*G[$' TCT MGTD_EYgO*9Wg; T7Yg;_7 ; %ObM O6b+EOcI O T;7 O =ER$O<b;$TE@V+TE5TLV;_-YgO6 ID ,<S<M; T;R'ES< ÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞ ;O$+T$LCT'C:;T'TEc9D`G I b;= ¯²³­ Ă€žĂ€ DS*c6 _.f; ĂŠĂŒĂ’ $S<LCT'C .W_OA_O There were many updates on private sector c9D`G;6 ÂĽĂ€Ăƒž Ă?Ïà ÌâùÜ Ă‘ĂĽĂžĂŚĂŠĂžĂŤĂĄÂŚ _@YgO_= 6 and its fight against corruption in 2017. of Anti-Corruption (CAC) Network aO$TLbM ;S$IV_'ETRM $TE_*V;9Wg_= ;LCT-V$%O* Coalition could manage to extend the so-called LCT'C `GRCWL8T;R_= ; ÀüÞïùâïâå ĂƒĂŚĂŤĂžĂŤĂ ĂŚĂžĂŠ “clean business networkâ€?. Companies of žÍĂžÊÜðù ÂĽĂ€ĂƒžŒ .Xg*_= ;'Z5IZ4V9T*6 T;IV-T-W@ all levels from diverse business sectors 9T*$TE_*V;`GR$TEG*9Z;ER6S<LT$G LTCTE8 were interested in joining the coalition as _% TCTCW<9<T9b;$TE>GS$6S;bM <EVKS9:ZE$V+ members. Meanwhile, increasing number _O$-;_% TCTE ICa'E*$TE Ă€žĂ€ 6 ID a6D of CAC-certified companies have been LCT'C Ă€Ăƒž +RL *_LEVCbM LCT-V$%O*LCT'C equipped with policies and action plans _% TCTE IC9lTM; T9Wg_= ;>[ `9; Ă€žĂ€ ÂĽĂ€žĂ€ against corruption. žåóÏà Ăžù⌠c=6lT_;V;$TEbM <EVKS99Wg7;_O* of 873 companies including the new 9lT*T;OD[ MEYO <EVKS9OYg;e _% TCTE IC=ER$TJ A85total members have joined in the CAC by _+7;TEC5 `GR6lT_;V;$TE_@YOg bM >T ;$TEES<EO* the end of 2017. Up to 283 CAC-certified +T$ Ă€žĂ€ companies have also vowed to come up $TE9Wg Ă€Ăƒž Ă?Ïà ÌâùÜ Ă‘ĂĽĂžĂŚĂŠĂžĂŤĂĄ .Xg*CW+lT;I; LCT-V$8X*$I T ¹­­ '; `GRL I;bM‰ 6Tl E*7lT`M; * 9WLg Tl 'S‰e b;O*' $EBT':ZE$V+ OD T*_- ; =ER:T; _+ TM; T9W$g TE_*V; ÂĽĂ€ĂƒĂŒŒŠ >[+ 6S $TE$O*9Z;Š ;S$$TE :;T'TE MEYO ;S$IV_'ETRM MGS$9ES@D _% TCTE IC L;S<L;Z;$TE6lT_;V;*T;%O* Ă€žĂ€ _= ;OW$M;Xg* 7SIOD T*9Wg`L6*bM _Mf;I Tb;BT'_O$-;CWM; ID *T;9Wg_Mf;'ITCLlT'S‰%O*$TE9lT:ZE$V+OD T* a=E *bL `GR@E OC+R_% TCTE ICI*CT$%X;h e `GR aC_C;7ShC%O*$TE7 O7 T;9Z+EV7b;BT'_O$-; $lTGS*$ O7SIbM‰ %Xh;_EYgODe ;O$+T$;Wh b;- I*_6YO;$S;DTD;ÂŞ7ZGT'C 9Wg> T;CT Ă€žĂ€ DS*c6 6lT_;V; a'E*$TE7 ;`<< Ă€ÌùÌáâÍ ĂƒââåĂ&#x;Ăžà è .Xg*_= 6aO$TLbM =ER-T-; LTCTE8`L6*'ITC_Mf;_$WgDI$S<'ITC@X*@Ob+ `GR'ITCa=E *bL%O*$TEb- <EV$TE%O*M; ID *T;ES2 > T;`<<LO<8TCOO;cG; 9Wg@S4;Ta6D BT'_O$-; a6DOTJSD_9'a;aGDWLCSDbMC %O* a9EJS@9 CYO8YOLCTE 9aA; .Xg*c6 ES<$TE7O<ES< OD T*6WDVg*+T$=ER-T-;9WgCTb- <EV$TEb;M; ID *T;ET-$TEM T`M *9Wg8[$'S6_GYO$bM _% TE ICb; a'E*$TE;lTE O* b;7O;M; T+R_G T8X*'ITC9 T9TD `GR `>;*T;6 T;OYg;e %O* Ă€žĂ€ b;= ¯²³Ž .Xg*CW

will be more companies in other business sectors joining force against corruption. Memorandum of Understanding (MOU) made last year between CAC and the Thai Bankers Association (TBA) is aimed at encouraging 15 commercial banks to consider anti-corruption aspect as part of the conditions for loan approval. Apart from TBA, MOU signed between CAC and Chartered Financial Analyst (CFA) Society has provided membership opportunities for CFA equipped with professional skills on financial investment at international level. CFA Society will also encourage its members to become “CAC Advocate� working to encourage companies they are working with to participate in the CAC movement.

with policies and guidelines to prevent Having over 400 high-level members, CFA corruption, compared to 200 in 2016. Society Thailand participation to CAC is an Increasing number of companies participating evident reinforcement to the importance in the project reflects the private sector’s of doing business with transparency and eagerness to fight corruption and willingness anti-corruption movement in the private to be a part of business transformation and sector which is gaining momentum. transparency in Thailand. In addition, CAC launched the “Citizen This is such an impressive movement made Feebackâ€? during September-October last by the private sector because CAC requires year. The project enabled public to share not only verbal commitment but action from their satisfaction towards transparency of its members to come up with anti-corruption public services by simply answering online policy and guideline in a bid to reduce bribery questionnaire which can be accessed via smart phones. The pilot project received regarded as substantial supply. well response from the public providing CAC was successful in inviting three feedbacks on quality of services at five pharmaceutical companies and members of selected authorities. Pharmaceutical Research and Manufacturers More details about challenges facing Association: Astellas Pharma (Thailand), Boehringer Ingelheim (Thailand) and Novartis CAC and other action plans in Year 2018 will (Thailand) to join in the anti-corruption be featured in the next Boadroom issue. movement last November. --------------------------------------------------Having members from pharmaceutical 3L<8ÄŠC-R 8=E;#==<L industry joined in the CAC in addition to —Ú² šĂ?ÑÛÉÖĂ? šĂ?Ú×ÕËĂ?ÉÖåÉ those in the financial sector will surely enable CAC to substantially drive forward Public Relations Consultant the anti-corruption movement. Surely there Thai IOD

B o a r d r o o m | 31

Board Review

'OGSC; ;Wh_ET%O`;R;lTM;S*LYO; TO T; ÑüÞÌÊÞÍå Ă° Ă?òðùÞÌÍÞĂ&#x;Êâ ¿òðÌÍâðð Ă„òÌåâ 9WgC[G;V:VCSg;@S4;T`GRBT'WMGS$ +T$BT':ZE$V+E IC+S69lT%Xh; M;S*LYO_G C;Wh+R- IDc%% OL*LSDbM $S<>[9 LgW ;b+_$WDg I$S<:ZE$V+9WDg *gS DY; I T=ES-‰T%O*_JEK2$V+@O_@WD* LTCTE8;lTCT=ES<b- $S< $TE6l T _;V ; :Z E $V + c6 + EV * MEYOcC Âź M;S*LYO_G C;Wh +RbM 'lT7O<9Wg-S6_+;> T; *T;_%WD;+T$;S$IV-T$TE `GR<Z''Gb;`I6I*:ZE$V+ 9Wg CW = ERL<$TE5 9Sh * -TI c9D`GR7 T *=ER_9J @E OC6 ID$E5WJX$KT`GR _'EYgO*CYO- ID_EWD;E[ `GR G*CYO9lTOW$CT$CTD 9Wg9lT b M M ;S * LY O $ G T D _ = ; 'S C BW E % O*$TE<EV M TE :Z E $V + 6 I DMGS $ 'V 6 `M * 'ITC@O_@W D *`<<9Wg c C

_'DCWCT$ O; _@YgObM BT':ZE$V+c9DLTCTE86lT_;V;7 Oc=c6 OD T* CSg ; '*<;_L ; 9T*%O*$TE@S 4 ;T9Wg DSg * DY ; 7TC<EV < 9%O* =ER_9J`GRaG$> T;_= TMCTD$TE@S4;T9WgDSg*DY;%O*O*' $TE LM=ER-T-T7V 9WCg * Z 6lT_;V;$V+$EEC7 T* e 9T*_JEK2$V+c=@E OC e $S<$TEES$KTLC6ZG %O*LVg * `I6G O C ` G R ' I T C LZ % 9Wg DSg * DY ; %O*LS * 'C L I;EIC

This column we would like to recommend Thailand’s Sustainable Business Guide, the forthcoming book from the sustainable development series, focuses on practical application of Sufficiency Economy Philosophy for implementing sustainable business, an idea that has long met with skepticism, and has now been clarified. Featured are writings from high-profile scholars and business persons from both Thailand and overseas, and a plethora of case studies and tools in using the SEP approach in a business context.

more socially and environmentally responsible, transparent, and focused on the long term. When it comes to responding to the greatest development challenges of our time and meeting the ambitious Sustainable Development Goals (SDGs) of the United Nations, companies are increasingly expected to be proactive – rather than reactive.

š­ŒŽ¹Œ³Šþ¸ ¸º¸šŒŽ³Œ§¹ª §º¸Ž³ª¸¸ ºŽŠª

Thailand’s private sector is at a critical juncture. Pressure from all directions is forcing the nation’s businesses to be

32 | B o a r d r o o m

.Xg* Ă†ĂŒĂ c6 _= ; L I ;M;Xg * b;$TE _%W D ;<9'ITCG* b; M;S*LYO_G C;W h b; Ă?Þïù ÂŻ M; T ¹³ª³Ž _EYgO* ÀÏïíÏïÞùâ Ă„ÏóâïÍĂžÍà â ÂŁ ÉâĂžåâïðüÌí ĂŁĂŹĂŻ Ă?òðùÞÌÍÞĂ&#x;ÌÊÌùÜ

IOD plays a crucial role in writing part II of the article in this book on page 46-61 in the topic of Corporate Governance & Leadership for Sustainability.

UPCOMING EVENT

Board Activities

Train the trainer & Thank you Facilitator

_CYgOIS;9Wg ÂŽÂľ :S;IT'C Ă†ĂŒĂ c6 +S6O<EC_EYgO*MGS$$0MCTD

9ES@D LV;9T*= ‰‰TbM $S<IV9DT$E Ă†ĂŒĂ @E OC= 69 TD6 ID*T;_GWhD* %O<'Z5_MG TIV9DT$E9WgLGR_IGTCTE ICLE T* ÀÄ $S< Ă†ĂŒĂ 7GO6= b;`<< Ă€üïÌðùêÞð Ă‘òïèâÜ Ă?ĂžïùÜ 5 _$KEIVG_G+ ÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞ On 18 December, IOD held an afternoon session about copyright intellectual property law for facilitators and then hosted a dinner to thanks them who dedicated their time to create corporate governance with IOD throughout the year at Gaysorn Village.

IOD Staff Retreat

$GT*_6YO;:S;IT'C9Wg> T;CT Ă†ĂŒĂ +S6$V+$EEC Ă?ùÞãã Ă?âùïâÞù 9Wg MSIMV; a6DCWaO$TLJX$KT_DWgDC-Ca'E*$TEb;@ERET-6lTEV a'E*$TE -Sg*MSICS; +S*MIS6_@E-<ZEW `GRCW$TE+S6O<ECbM $S<@;S$*T;_@YgO_LEVC LE T*'ITCE[ 'ITC_% Tb+b;_EYgO* ÀÄ +T$ CGÂŤ>$T`$ I <Z‰_GWhD* `GR MSI% OIS4;:EECO*' $E `GR$TEETD*T;bM LO6'G O*$S<$GDZ9: O*' $E +T$'Z5<EE+* +V77 `+ * IV9DT$E+T$MGS$L[7EMGS$%O* Ă†ĂŒĂ = 69 TD 6 ID *T;_GWhD*LS*LEE' @;S$*T;b;:WC žÊÏüĂž ÅÞôÞÌÌ Ă‹Ìäüù Ă?ĂžïùÜ 9WCg $W TE`L6* `GR_$C7 T*e @E OCGZ; ES<%O*%IS‰= bMC +T$'5R>[< EVMTE $S;OD T*L;Z$L;T; ÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞ In mid December, IOD held a staff retreat at Hua Hin. The retreat included an excursion to Chang Hua Man Royal Project in Petchaburi province and various training sessions. One session, which was given by M.L. Pakakaew Boonliang, was aimed at enhancing knowledge and understanding of corporate governance. Another was led by Mr. Banchong Chittchang, a lecturer from the main course of IOD and covered organization culture and how to report inconsistencies within the organization strategy. The retreat finale was a party under the theme “Aloha Hawaii Night Partyâ€?, which included many shows, games and prizes from the executives.

34 | B o a r d r o o m

Š¨¾ ´Ă—ÎÊÓÙÆÙÎÔÓ ¨Ă‘Ă†Ă˜Ă˜ úýÚ—úýý

_CYgOIS;9Wg Âľ Š ÂŽÂŻ C$ET'C `GR ² $ZCBT@S;: Ă†ĂŒĂ c6 +S6 à ÀĂ? ĂŒïÌâÍùĂžùÌÏÍ EZ ; ¯²Žª¯²² .Xg*_= ; ² EZ ;`E$%O*= ;Wh _@YgObM >[ _% T O<ECc6 9lT'ITCE[ +S$ _@YgO;E ICEZ ; `GRE[ +S$ Ă†ĂŒĂ bM CT$%Xh; EIC 9Sh*9ET<8X*% O`;R;lTLlTMES<$TE_% TO<E<OD T*=ERL<'ITCLlT_Ef+ @E OC`+$_O$LTE=ER$O<$TEO<EC $ER_= T `GR_LYhOL[9 Ă†ĂŒĂ _@YgO bM >[ O<EC_7EWDC@E OC$ O;IS;_% T_EWD;+EV* ÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞ On 8 and 12 January and 5 February, IOD held DCP orientation class 251-255, which was the first of the five sessions to be held in 2018. The objective of the orientation class is to enable the participants to get to know their fellow classmates and IOD and learn about the regulations pertaining to the training. The participants were provided with documents for the training, a bag with articles for the class, and an IOD shirt as part of the preparation for the real class,

SBM class 1-2 Reunion Dinner

_CYgOIS;9Wg Ž° $ZCBT@S;: JVKD _$ TMGS$L[7E Ă?ùïĂžùâäÌà ¿ÏÞïå ĂŠĂžðùâï ÀÊÞðð Ă?âùïâÞù ÂĽĂ?¿ÊŒ à ÊÞðð ÂŽÂŞÂŻ c6 +S69T;OTMTE_Df;E IC$S;_@YgObM JVKD _$ T9Sh*LO*EZ ;c6 @<=R@[6'ZD `G$_=GWgD;'ITC'V6_Mf;`GR=ERL<$TE5 $S;OD T*b$G -6V 9WEg T ; ĂŽòÌÍà â Ă‚ĂžùâïÜ ÂŁ ¿Þï 9S*h ;W h Ă†ĂŒĂ 8YOaO$TL;Wbh ; $TE=ER-TLSC@S;: Ă?ùïĂžùâäÌà ¿ÏÞïå ĂŠĂžðùâï ÀÊÞðð Ă?âùïâÞù ÂĽĂ‚ÍäÊÌðü Ă?âðÌåâÍùÌÞÊ Ă?ïÏäïÞêŒ .Xg*_= ;MGS$L[7E$GDZ9: ER6S<L[*9Wg+R9lTbM '5R$EEC$TE_% Tb+_EYgO*_9E;6 7 T* e %O*aG$9Wg+R_=GWgD;`=G*c= .Xg* 9l T bM ' 5R$EEC$TE7 O *_7EW D C7S I IT*$GDZ 9 : _ @Yg O ES < CY O LVg * 9Wg $l T GS * +R_$V6%Xh; a6DEZ ; ° 9Wg+R+S6%Xh;b;IS;9Wg ÂŽÂŞÂą _CKTD; ¯²³Ž ;Wh .Xg*9 T; LTCTE8O T;ETDGR_OWD6_@VgC_7VCc6 9Wg ôôôùüÞ̪ÌÏåà Ïê ÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞÂŞ On 13 February, the alumni of the Strategic Board Master Class Retreat (SBM) class 1-2 met for dinner at Quince Eatery & Bar to exchange opinions and experiences. The dinner provided an opportunity for IOD to promote the Strategic Board Master Class Retreat (English residential program), which is a high-level strategy course for directors to learn about global trends and prepare strategies to deal with the changes. Class 3 will be held from 1 to 4 April 2018. More information about it is available at www.thai-iod.com

B o a r d r o o m | 35

The DCP’s CEO Club presents “Thursday Night Fever�

_CYOg IS;9W g ÂŽÂľ C$ET'C9W>g T ;CT Ă†ĂŒĂ E IC $S< à ÀĂ? Ă° Ă€üÌâã Ă‚ÍäĂžäâêâÍù ĂŒããÌà âï ÂĽĂ€Ă‚ĂŒ Ă€ÊòĂ&#x;ÂŚ +T$ ÀÊÞðð ¯­¹Ž² 8X* ÀÊÞð𠯹œŽ´ +S6 *T; Ă‘üâ à ÀĂ? Ă° Ă€Ă‚ĂŒ Ă€ÊòĂ&#x; íïâðâÍùð Ă‘üòïðåÞÜ Ă‹Ìäüù Ăƒâóâï %X;h b;:WC Ă ĂŚĂ°Ă ĂŹ 9W g Ă‘üâ Ă€ïÜðùÞÊ ¿ÏþŠ Ă„ĂžÜðÏïÍ Ă“ĂŚĂŠĂŠĂžäâ a6DCW'5Z -T‰ JEWI$V EC Ă€Ă‚ĂŒ EZ; ÂŻÂŻÂŻ _= ;>[L ;S<L;Z;L8T;9W+g 6S *T;b; 'Y;;S;h BTDb;*T;CW@EfO@7 T*e `+$bM 9$Z 9 T; MGS*+T$G*9R_<WD;_@YOg 9W+g R_% T:WC Ă ĂŚĂ°Ă ĂŹ $S; OD T*_7fC9Wcg C IT _= ; MCI$ LE OD `I ;7T $lTcG bM _GYO$$S;MGTD`<<MGTDLc76 a6D'Z5G@T IS-EJEWaE+; Ă€Ă‚ĂŒ EZ; ÂŻÂŻÂŻ _= ;>[L ;S<L;Z;%O* 9WEg RGX$`GR%O*ET*ISG7 T* e b;*T;'Y;;S;h 9lTbM >[ E I C*T;c6 8 T DE[ = $S ; OD T *LID*TC`GR L;Z$L;T;$S;7S*h `7 M; T*T; BTDb;*T;CW.C Z OTMTE9WMg GT$MGTD a6D_'EYOg *6YCg c6 E<S $TE L;S<L;Z;_<WDE L6+T$LV*M 'OE =O_E-S;g `GRcI; +T$<EVK9S Ă”ÌÍâ ÄÞïÞäâ b;*T;;Wh_ETc6 ES<_$WDE7V+T$ ĂŠĂŻÂŤ ÊÞïà Ă?íÌâäâʊ Ă€Ă‚ĂŒ ¯°­ `GR ĂŠĂŻÂŤ à âïâè óÞÍ Ă?âÊùŠ Ă€Ă‚ĂŒ ¯¹Ž _= ;@V:$V Eb;*T;IS;;S;h MGS*+T$9W6g EÂŤ<S53V7 ;V+8TIE $G TI_= 6*T; _MG T Ă€Ă‚ĂŒ EZ ;7 T*e %Xh; `L6*b;_@G* Ă–ĂŠĂ€ž 7 O6 ID$V+$EECGRGTD @F7V$EEC7 T*e 9Wg9lTbM JVKD _$ T à ÀĂ? c6 @<=R @[''ZD$S;OD T*L;V9-V6_-YOh DV*g %X;h > T;_$CL b< 'Tl `GR_$ TOWh6;7EW `7 9Wg_EWD$_LWD*$EWi6c6 L;Sg;M O* 7 O*D$bM 'Z5LC8IVG =:T;I;V- à ÀĂ? ¯­´ `GR 'Z5$K@G <IEJEW$TE à ÀĂ? ¯­¾ 9Wg_6V;`<<b; `;I Ă ĂŚĂ°Ă ĂŹ _@YgO=ER-S;'ITCa66_6 ; $ O;+R 'I TET*ISG ĂˆÌÍä ÂŁ ĂŽòââÍ ĂŹĂŁ Ă ĂŚĂ°Ă ĂŹ +T$_LWD* aMI7%O*9Z$';b;Â†ĂˆĂ?´'Y;;Sh; `GR_= 6AGOE E IC _7 ;ElTb;`;I6VLa$ $S;OD T*L;Z$L;T;

36 | B o a r d r o o m

On 18 January, IOD and the DCP’s Chief Engagement Officer (CEO Club) from class 204/15 to class 249/17 held the DCP’s CEO Club presents “Thursday Night Fever�. The event, which was based on a disco theme, took place at Gaysorn Cystal Box. Mr. Chan Srivikorn, CEO Class 222 provided the venue for this fun-filled evening. When entering the party, the guests received items based on the theme, such as a hat, a necklace, glasses and a bracelet in different styles. Dr. Labha Watcharasriroj, CEO class 222, provided the items, as well as prizes given during the evening. The guests had a great time, taking photos and eating different kinds of food and beverages, including beer from Singha Corporation and wine from Wine Garage. Mr. Marc Spiegel, CEP 230 and Mr. Derek van Pelt, CEO 241 served as co-hosts for the event Dr. Bandid Nijathaworn, gave an opening speech. Other highlights of the evening included alumni CEO classes dancing to the song “YMCA� and activities for the DCP alumni to get acquainted with each other, including word games and playing musical chairs. One activity of particular note involved Mrs. Somthawin Patanavanich, DCP 207 and Mr. Kasabol Bowonsrikan, DCP 208, walking on the catwalk. They were voted by the guests as Disco King and Queen. It was a great evening with the guests disco dancing and singing disco songs.

Member Corner

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We’d like to express our appreciation to IOD alumni who had recently received awards in various areas as follows. CPF Executive President Mr. Sukawat Dansermsuk, DCP 225, received Outstanding Alumni Award from the Faculty of Economics, Thammasat University. • Krungsri President and Chief Executive Officer Mr. Noriaki Goto, DCP 207, won Best CEO Award in the Banking and Finance category from Asia’s leading magazine The Asset. • PTT Chief Executive Officer Mr. Tavin Vongvanich, DCP 21, received Best Corporate Award 2017 in individual and organizational categories from The Asset. • Chairman of Executive Committee of Project Planning Services PLC Dr. Pongthorn Tarachai, DAP 91, won Outstanding Network Organizational Development Award from the Council of Engineers • Thai Life Insurance PLC President Mr. Chai Chaiyawan, DAP 129, received World Finance Award 2017 in the category of Best Life Insurance Company in Thailand from England’s World Finance Magazine. • Electricity Generating Authority of Thailand (EGAT) Governer Mr. Kornrasit Pakchotanon, DCP 195, earned CEO Thailand Award and AEC Top-CEO Award of 2018. Photos show parties to celebrate friendship and New Year Season among alumni of DCP 207, 208, 211,216, 222, 226, 253 and several other alumni groups at variety venues. IOD has been delighted to learn that our alumni keep a close tie with their groups. On the occasion of New Year, IOD members of the Executive Board and employees wish that may all deities grant you happiness, wealth, and success.

Mr. Sukhawat Dansermsuk

Mr. Noriaki Goto

Mr. Tevin Vongvanich

Mr. Kornrasit Pakchotanon Dr. Phongthon Tharachai Dr.Kasem Wattanachai & Mr. Vipon Vorasowharid

Mr. Chai Chaiyawan

DCP 208

DCP 216

DCP 211

DCP 226

B o a r d r o o m | 37 DCP 222

Board Success

CONGRATULATIONS Award Presentation ÂŽÂ?š ´œ´¹´œš³´úݚ ÂŞ ÂŽĂ‘Ă˜Ă”Ă—Ă•Ă‰ ¡¸° ¡º¹¸ú³´úݚ In the evening of 19 December 2017, IOD held a ceremony to give certificates to 174 participants of the Director Certification Program (DCP) class 242-247 and 23 experts who had completed the Director Diploma Examination class 56, 58-60. IOD was represented by the Board of Directors, led by Prof. Hiran Radeesri, an honorable chairman, Mr. Yut Vorachattarn, and Mr. Chusak Direkwattanachai, board advisors, Mr. Prasan Chuaphanich, Chairman, Dr. Bandid Nijathaworn, IOD President, and IOD Vice President Ms. Ada Ingawanij, who congratulated the award recipients and wished them success in the future.

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_EVgC6 ID Ă”âÊà Ïêâ åïÌÍè 9WgbM _MG TJVKD _$ Tc6 @<=R@[6'ZD$S;ERMI T*EZ ; .Xg*CW9Sh*CZC8 TDBT@`GR <OE 6 BT@8 TDERMI T*$TEO<EC 9WgbM _MG T>[ > T;$TEO<E<c6 -C The event began with a welcome drink for the alumni from different classes to meet `GR_$f<$GS<< T;$S;c=c6 and talk. There were also photo corners and a board for the guests to select photos to take home. Mr. Prasan Chuaphanich gave a welcome speech for the DCP participants and experts who passed the exam. This was followed by a dinner with live music and a period for guests to mingle and take photos. A video presentation of a photo compilation from the classrooms was then showed, which brought gales of laughter from guests, followed by the certificate ceremony, which was presided over by Prof. Hiran Radeesri, Mr. Prasan Chuaphanich and Dr. Bandid Nijathaworn. The event concluded with a talk from Colonel Settapong Malisuwan, Vice chairman of National Broadcasting and Telecommunication Commission (NBTC) and the Chairman of DCP 242, on his impression of the program and what he had gained from DCP. He also was tasked with announcing the special prizes for participants who attained the highest scores on their class work: Mrs. Kulruedee Choungprayoon; Dr. Tasanawat Sombuntham; Mr. Sathundon Sattabusya; Mr. Soravit Phansomburna; Dr. Sarayut Rueangsuwan; and Mr. Brennan Coleman. Dr. Bandid gave a closing speech and invited the chairmen of every class on the stage to celebrate the participants’ success. Photos from the event are presented in this column. ----------------------------------------------------------------------------------------------------

Director Diploma Examination 56/2016

Director Diploma Examination 59/2016

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40 | B o a r d r o o m

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Director Certification Program 247/2017 Mr.Andrew J M Matthews Mr.Brennan Coleman Mr.Charin Sony Mr.Charnchai Mahantakhun Mr.Christophe Viguerie Mr.Daniel Phillip Tung Mr.Dirk Andre L De Cuyper Ms.Ittaya Sirivasukarn Mr.Jerome Le Borgne

Mr.Jutiphan Mongkilsuthree Mr.Karsten Thrane Mr.Kerkkun Kokanutaporn Mr.Kosit Fuangswasdi Mr.Manuel Gordillo Mr.Naiyanobh Bhirombhakdi Mr.Naveen Sethi Mr.Nicholas James Smart Mr.Nicolino Pasquini

Mr.Nitin Balasaheb Mr.Pitiphatr Buri Mr.Richard Bernhard Mr.Sakorn Suriyabhivadh Mrs.Sharon Withe Mr.Subhajit Roy Chowdhury Mr.Sunil Marwah Mr.Sunit Scott Mr.Yoshiro Yamaguchi

B o a r d r o o m | 41

Welcome New Member

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B o a r d r o o m | 43

Juristic Member | ×ÕØÉÖá

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