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Annual Report
2015
Remuneration for top executives
The Nomination and Remuneration Committee also
considered the compensation criteria for individual members of
other committees, the president and top management, and seek
approval from the BoG. The annual performance assessment
criteria of the president and other members of top management
is clearly defined, which is to benchmark individual actual
performance against their respective KPIs, individual compliance
with BoG policies, the overall economic and social situation,
and historical records.
In 2015, SET’s top executives consisted of the president,
five executive vice presidents and 11 senior vice presidents,
for a total of 17. The monthly salary, cost-of-living, special
reward, bonus and provident fund from SET totaled THB
172,069,389.55.
Enhancement plan for the Board of Governors
SET gives utmost importance to the continuous and
consistent enhancement plan for the governors. The SET governors
participate in educational courses and observe business activities
of various stock exchanges both in Thailand and abroad in order
to enhance their knowledge and broaden their perspectives. For
a new governor, SET will provide an orientation of SET operations
strategic plan, business plan and the overall operations of the
subsidiaries. New governors will also receive a Board of Governors
manual which contains key facts and figures, rules and regulations
and other useful information as essential matters for conducting
as a Board of Governors.
In 2015, members of the Board of Governors continued
to attend training and seminars to enhance their understanding
of the roles, duties and responsibilities to further benefit the
organization, as follows:
Courses organized by the Thai Institute of Directors (IOD)
including Director Certification Program Update (DCPU)
and Advance Audit Committee Program (AACP) (details
in table below)
Seminars on various topics, for example, seminars by the
CG Forum covering the topics: “CG in substance”,
“Corporate Governance in SET culture” Thailand CG Forum:
“Governance as a driving force for business sustainability”
held by The Securities and Exchange Commission (SEC)
and The Thai Institute of Directors Association (IOD), etc.
Forum on “The 2015 Asian Roundtable on Corporate
Governance” by Chaiyawat Wibulswasdi (Chairman) and
Kesara Manchusree (President) having the chairman and
president as guest speakers.
SET President attended the course on “Enhancing
the Competitiveness of Thai Companies” organized by Thai
Listed Companies Association.
The governors took an educational trip abroad to France
and Italy during September 4 - 12, 2015. During this “Financial
Trip 2015”, the governors visited Euronext, Eurex, Euroclear,
LCH Clearnet, MTS, Milan Stock Exchange (Borsa Italiana),
Cassa di Compensazione e Garanzia S.p.A. (CC&G) and Monte
Titoli S.p.A. The purpose was to gain knowledge by attending
briefings with discussions on topics of importance while
networking with personnel in these foreign capital markets and
related agencies. Governors participating in “Financial Trip
2015” were the BoG vice chairman, 7 governors, and the SET
president namely Suthep Peetakanont, Charnchai Kongthongluck,
Chaipatr Srivisarvacha, Jotika Savananada, Professor Kitipong
Urapeepatanapong, Pichet Sithi-Amnuai, Dr.Subhak Siwaraksa,
Voravan Tarapoom, and Kesara Manchusree.
Additionally, governors serving on the Audit Committee
namely Jotika Savananada, Charnchai Kongthongluck and
Subhak Siwaraksa, along with the Risk Management Committee
members namely Suthep Peetakanont, Pichet Sithi-Amnuai,
Voravan Tarapoom and one external expert, Anya Khathavit,
visited the Japan Exchange Group (JPX) and Nomura
Securities Co., Ltd. (NSC) in Japan during December
9 - 12, 2015. They have learned how JPX and NSC handle
corporate governance, risk management, internal audit and
regulatory compliance. This trip also enhanced their expertise
and strengthened the networking with participants in other
capital markets.