Succession planning for board members and key management

Board Member Succession Planning

The members of the board of directors of the company span from 40 to 80 years old, and their professional skills and industry experience cover business management, finance, finance, accounting, marketing, strategic management and law, providing a good foundation for the company's sustainable operation. We will continue to make good use of the concept of experts, and when the board of directors is elected or the board members are vacant, we will introduce internal and external talents with diverse backgrounds, experiences and expertise, with operational management capabilities and leadership decision-making capabilities, to understand and participate in the operation of the board of directors or functional committees, and then Nurturing the next generation of board members.

Key management succession planning

The successor of the important management level of the company must meet the following conditions:
(1) Possess noble morality and conduct, and agree with the company's business philosophy of honesty, integrity, diligence, frugality and forbearance.
(2) Possess professional ability, general knowledge ability, and management integration ability.
(3) Have an international outlook, be able to accommodate dissent, and take the maximization of organizational interests as a priority decision-making consideration.
The succession plan for the important management level of the Company is planned and implemented by the management department, and is regularly reported to the Board of Directors.

Succession planning steps

(1) Identify the abilities and conditions required for the current position;
(2) Establish a succession talent pool to select potential successor candidates;
(3) Formulate relevant training plans for each candidate according to the planned schedule, and implement and regularly evaluate the results accordingly.

Succession planning and operation of board members and key management

1. Operation of succession planning for board members

At present, more than half of the members of the board of directors are elected from the members of the functional committee. In the future, we will continue to provide different opportunities according to the plan, so that qualified personnel can understand and participate in the operation of the board of directors or functional committees.

Every year, the Board of Directors participates in internal and external training courses on issues of concern for the year. It also stipulates the operation method of the performance management of the board of directors, through the performance evaluation project, to ensure the effective operation of the board of directors, and as a reference for the selection of directors in the future.

The operations for 2021 are as follows:
Carry out re-election of independent directors and increase two independent directors.


2. Operational Situation of Succession Planning for Important Management Levels

In 2021, it will cooperate with the relocation of the Taicang plant to integrate the company's future strategic direction and key talent training.
From 2022, talent development and leadership inheritance will be carried out according to the company's future development direction planning, and potential successor candidates will be selected from among them. At present, the subsidiaries have successively succeeded.