Report of the Nomination and Compensation Committee
The Nomination and Compensation Committee is composed of Mr. Paul Heinz Hugentobler as Chairman and four additional Board members which are Mr. Vanchai Tosomboon, Ms. Nopporn Tirawattanagool, Dr.h.c Harald Link and Mr. Benjamin Herrenden Birks, as a successor of Mr. David Alexander Newbigging, who retired from the Board of Directors on 30 September 2019.
In 2019, the Nomination and Compensation Committee has continued its duties and responsibilities according to the Committee Charter with a total of eight meetings conducted. In addition to the supervision of the implementation of nomination and compensation policies aiming at creating superior value for our shareholders, and for the delivery of the SCCC and its Group companies’ strategic objectives, the Committee particularly focused on shaping the organization to sustain the Company’s competitive edge in the domestic and international markets.
Effective 1 March 2019, the Group Executive Committee was established to formally take over the executive management and leadership roles and tasks in our Group. Accordingly, to strengthen the Group’s management structure, the Nomination and Compensation Committee focused on selecting and placing leaders in key executive positions at both the Group, and the country level, which included the Group Chief Executive Officer, members of the Group Executive Committee, Group Chief Financial Officer, Group Strategy, Transformation and Performance Officer, Chief Executive Officer (Light Building Materials), Chief Executive Officer of Siam City Cement (Bangladesh) Limited, Chief Executive Officer of Chip Mong INSEE Cement Corporation, Head of Chinese Business Segment, as well as the appointment of a member of the Board of Directors of Siam City Cement Plc., Mr. Benjamin Herrenden Birks as the successor of Mr. David Alexander Newbigging.
The Nomination and Compensation Committee is committed to ensuring the building of an effective organization driven by an entrepreneurial culture through the selection of passionate leaders; to drive our Company’s performance in today’s highly competitive environment, who will be leading our Group into the future.
Paul Heinz Hugentobler
Chairman of the Nomination and Compensation Committee