Succession planning for board members and key management


Board Members and Key Management Succession Plans

 

Aligned with the company’s development direction and objectives, the succession planning emphasizes that the successor must not only possess professional competence but also exhibit qualities of integrity and honesty, aligning with the company’s core values.

 

1.      Succession Planning for Board Members

The Company currently has a total of 8 directors, including 3 independent directors, with diverse and complementary industry experiences, as well as professional expertise in finance and accounting. Among them, 1 individual also serves in a senior management role within the Company. The future composition and member background of the Company’s board of directors will continue to follow the existing structure.

Regarding the succession planning for the board of directors, the Company cultivates senior managers to join the board of directors, allowing them to familiarize them with the operation of the board of directors and the business of the group. This is achieved through job rotations to deepen their industry experience.

Currently, the group has a number of high-level management professionals, so the company has a sufficient talent pool to be elected as future directors. Considering the diversity of directors, directors who are also managers of the company shall not exceed one-third of the total board seats, and will pay attention to gender equality.

The current General Manager, Mr. Lee Yu Ching, previously served as Vice General Manager for many years, demonstrating a deep understanding of the company’s business and operations, coupled with extensive academic and professional experience, and outstanding performance. Furthermore, Mr. Lai Chun Cheng, the Executive Vice General Manager of the Company, served as the special assistant to the Chairman. During this period, he not only fulfilled the role of overseeing the company’s subsidiary in Myanmar, serving as a communication and coordination platform between departments, but also gained practical insights into the operations of various departments. Currently, he holds the position of Director at the subsidiary, Century Wind Power, familiarizing himself with the functioning of the board and the business operations of various units within the group.

As for the independent directors, in accordance with legal requirements, they are required to possess working experience in commerce, law, finance, accounting, or the necessary business fields. Therefore, the selection process will involve professionals from the domestic academic and industrial sectors.

2.      Succession Planning for Management

The company regularly reviews and screens the potential list of each level, establishes a talent pool, and conducts training plans. The content of the talent development plan includes professional ability, management ability, personal development plan and job rotation:

 

1.      Through mechanisms such as work practice reports, participation in goal-setting, and attendance at crucial meetings on operational management, we cultivate decision-making abilities. Regular performance evaluations during this process assist in guiding individual development and providing constructive feedback.

2.      By implementing cross-functional or cross-departmental job rotations, planning and executing project assignments, holding concurrent positions, acting as job proxies, or being assigned to investment ventures, we cultivate diverse work capabilities and perspectives, providing practical hands-on experience

3.      Participate in relevant internal and external training according to personal development needs every year, so as to cultivate decision-making and judgment capabilities.

4.      Establish comprehensive training records and periodically review talent development plans to adjust them in response to organizational operational needs.

5.      Encourage middle and high-level talents to use their creativity to learn independently, and spontaneously propose further training, research or alternative learning, internship plans, and the company will provide resource support or job design adjustments to facilitate the company’s overall human resources with more diversity and resilience.