Succession Planning and Operations for Board Members and Key Management
Succession Planning and Operations for Board Members
The company adopts a candidate nomination system for directors, with each term lasting three years. The appointment of directors, unless otherwise specified by law or the articles of association, shall be conducted in accordance with the 'Regulations of Director Election' of the Company. To enhance the effectiveness of directors' functions, continuous improvement will be pursued by regularly updating and providing annual training programs in response to changing internal and external conditions and developmental needs of the Company, aiming to enhance the professional competence of the directors and to ensure an efficient, collaborative, diverse, and company-oriented board. The overall expertise of the board should encompass corporate strategy, accounting and taxation, finance, law, administrative management, and production management. The selection process for director candidates must comply with qualification checks and relevant standards to ensure effective identification and selection of suitable candidates when director positions become vacant or when planning to expand the board. The company also nurtures senior managers to join the board, allowing them to familiarize themselves with board operations and business units within the group, deepening their industry experience through job rotations. With several high-level management experts within the group, the company has a robust talent pool for potential future directorship positions.
Additionally, the 'Board of Directors' Performance Evaluation Regulations' were established on May 8, 2020. An internal board evaluation and individual director performance evaluations are conducted annually, and the evaluation results serve as reference criteria for future selections or nominations of directors for re-appointment."
Succession Planning and Operations for Key Management
In planning the succession, the successor must possess outstanding work capabilities, align with the company's values, and exhibit personal qualities including integrity, commitment, innovation, and gaining customer trust. The succession plan for senior management is as below:
Senior Management Skills Training: The training module consists of four segments, focusing on management skills, professional abilities, personal development plans, and job rotations. Contents include human resources, financial risk, leadership, latest technology and implementation, global trend and analysis, anti-bribery and governance, etc. Training schedules are customized annually based on individual work requirements and learning progress. Execution is reviewed respectively by the Education Training and Development Committee. The aim is to enhance decision-making abilities by integrating and applying learned professional skills, catering to future succession planning needs.
Job Rotation or Proxy System: Integrating job rotations and the proxy system enables senior executives to develop multifunctional and multidimensional leadership management and decision-making capabilities. It ensures robust organizational development and company operations."