Succession Planning of Members of the Board of Director and Important Managers and Implementation
Succession Planning of Members of the Board of Director and Implementation:
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I. The Company's Articles of Incorporation specifies that the candidate nomination system must be adopted for all elections of Directors. The Corporate Governance Best Practice Principles and Rules Governing the Election of the Directors specify that the composition of the members of the Board of Directors must account for diversity. The Company must also form the Board of Directors with elite professionals of the industry and experts from different disciplines based on its own operations, business model, and development.
II. To strengthen the functions of the Board of Directors, the Company is advised to establish a database for the candidates of Directors that includes but is not limited to the two following general standards based on its own operations, business model, and development requirements.
(I) Basic requirements and values: Gender, age, nationality, and culture.
(II) Professional knowledge and skills: A professional background (e.g., law, accounting, industry, finance, marketing, or technology), professional skills, and industry experience.
Each board member shall have the necessary knowledge, skill, and experience to perform his/her duties. To achieve the ideal goals of corporate governance, the abilities that must be present in the board as a whole are as follows:
1. Ability to make sound business judgments.
2. Ability to perform accounting and financial analysis.
3. Ability to manage a business.
4. Ability to handle crisis management.
5. Knowledge of the industry
6. An international market perspective.
7. Leadership ability.
8. Decision-making ability.
III. The Company has established the Board of Directors Performance Evaluation Guidelines and uses the performance evaluation items, including control of company objectives and tasks, awareness of responsibilities, participation in operations, internal relationship management and communication, professional functions and training, internal control, and expression of opinions to ensure the effective operations of the Board of Directors and to evaluate the performance of Directors as future reference for the selection of Directors.
Succession Planning of Director and Important Managers and Implementation:
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I. When the Company convenes board meetings or strategy and operation meetings, it always invites Directors as well as senior executives such as the President, general managers of business groups, and heads of departments of the head office to attend the meetings. The Company plans to develop decision-making skills through senior executives' participation in board meetings and related meetings.
II. The Company regularly holds two-day training courses for senior executives (managers ranked department directors and above) every year. Course topics include system conceptualization, performance management and talent management, high-performance leadership, organizational changes, and sustainable development. We share external industry knowledge, new technology knowledge and paradigms of benchmark companies to learn about the latest management ideas and current trends. Senior executives also share their leadership experience for creating the corporate culture and management based on their years of experience.
III. The Human Resources Department has created a talent development mechanism that focuses on training resources for training and development. It includes management courses, new technology enhancements, and job rotations. The President invites external professional training institutions to provide all company executives with enhanced management knowledge at least once a year. We consolidate the targets of the Company and departments to strengthen the advantages of their current roles.
