File Attachment(s) Reserve for IOD Member Only Nomination Best Practice [ 4,063.55 kb. ]

Having high quality directors is an integral part of the company’s success in adopting corporate governance principles. Therefore, director nomination processes are considered highly significant and the Nomination Committee must be established to ensure the processes are appropriate and transparent.

As an organization dedicated to improving director professionalism and corporate governance in Thailand, Thai Institute of Directors Association (IOD) issued the Director Nomination Best Practices in 2006. However, the roles of directors nowadays are changing. To comply with the new legal requirements and corporate governance practices, the amount of work required of them has substantially increased.

Therefore, to build an effective board of director, various factors on recruitment have to be taken into account. The nomination decisions should be based on sound principles and a transparent process. Thus, IOD deems it appropriate to improve this practice to align. with the changing governace landscape.