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  • The Plan Administrator
  • Executive Mgt.
  • The Audit Committee
  • The Mgt.
The Plan Administrator

After the Central Bankruptcy Court issued orders approving the Plan and appointed the Company as the Plan Administrator on February 9, 2001, all rights and duties of the Planner were vested in the Plan Administrator. Under the plan, the Plan administrator shall be relieved of its duties if

1. The Company, in its capacity as the Plan Administrator, dissolves the business;
2. The Court permits the Company to resign as the Plan Administrator;
3. The Company is judged to be incompetent or quasi-incompetent;
4. The Court issues an order removing the Plan Administrator from office, the grounds for such an order are that (i) the Plan Administrator fails to act in accordance with the Plan; (ii) it has conducted its duties in bad faith; (iii) it has caused damage to the creditors or the debtor; (iv) it is not qualified to act as the Plan Administrator; or (v) other reasons why it should not continue serving as the Plan Administrator; or
5. The term of the Plan expires.

Management Structure

The management structure of the Company consists of three Executive Committees: The Board of Directors, the Executive Management Committee and the Audit Committee, details of which are as follows:- The Board of Directors at December 31, 2006

Name
Position
1. Mr. Visith Noiphan
Chairman and Independent Director
2. Mr. Prachai Leophairatana
Director
3. Mr. Kamol Iamsakulrat
Director
4. Mr. Prateep Leopairut
Director
5. Mr. Chainarong Taephaisitphongse
Director
6. Dr. Pramuan Leophairatana
Director
7. Dr. Narasri Vaivanijkul
Independent Director and Audit Committee
8. Mrs. Boonsri Leophairatana
Director
9. Ms. Suchitra Taychanavakul
Director
10. Dr. Chavin Iamsopana
Director
11. Mr. Kitti Vongchingtrong
Director
12. Mr. Prayad Liewphairatana
Director
13. Mrs. Orapin Leophairatana
Director
14. Mr. Manas Sooksmarn
Independent Director and Audit Committee
15. Pol.Gen. Charnchit Bhiraleus
Independent Director and Audit Committee
Mr. Nitisit Jongphitakratana is the Corporate Secretary.

Functions and Responsibilities of the Board of Directors

1. To carry out activities prudently to be in compliance with related governing laws, the objectives of the Company and the Articles of Association, in order to protect the Company’s interests and for the benefit of shareholders.
2. To consider the policy, vision, work plan and key strategies as well as ethical standards for business operations and to supervise and monitor Management, to ensure that they perform duties efficiently and are in compliance with the Company’s policies.
3. To monitor the operational results of the Company and any other key progress criteria.
4. To determine interim dividends to shareholders
5. To ensure that financial reports are complete, accurate, reliable and timely and are prepared in compliance with generally accepted accounting principles.
6. To monitor the implementation of internal control and audit systems complying with all regulations and related governing laws and to ensure appropriate risk management.
7. To ensure that the Company performs in compliance with good corporate governance policy and focuses on fair treatment for all related parties and discloses all relevant information that might affect the interests of related parties and the public.
8. To monitor and to prevent conflicts of interest as well as connected transactions and any other transactions that might affect the interests of related parties to be in compliance with the related rules and regulations

The Executive Management Committee as at December 31, 2006

Name
Position
1. Mr. Prachai Leophairatana Chairman of Executive Committee
2. Mr. Prateep Leopairut Executive Director
3. Dr. Pramuan Leophairatana Executive Director
4. Mr. Prayad Liewphairatana Executive Director
5. Mrs. Orapin Leophairatana Executive Director
6. Mrs. Boonsri Leophairatana Executive Director
7. Mr. Kitti Vongchingtrong Executive Director
8. Ms. Suchitra Taychanavakul Executive Director
9. Dr. Chavin Iamsopana Executive Director
10. Mr. Chainarong Taephaisitphongse Executive Director

Ten Directors are authorized by the Plan Administrator to sign on behalf of the Company. Two of the ten directors must jointly sign, together with the affixation of the official company stamp.

Functions and Responsibilities of the Executive Management Committee

1. To govern and determine the operational strategy of the business, in compliance with the policy of the Board of Directors.
2. To monitor operational results of each department.
3. To select and nominate top management of the Company
4. To nominate and remove officers of the Company, and to determine their rewards.
5. To perform their duties in relation to the general administration of the Company

The Audit Committee as at December 31, 2006

Name Position
1. Dr. Narasri Vaivanijkul Chairman of the Audit Committee
2. Mr. Manas Sooksmarn Audit Committee
3. Pol.Gen. Charnchit Bhiraleus Audit Committee

Functions and Responsibilities of the Audit Committee

1. To control and monitor the Company’s financial reports to ensure that they are complete, adequate and reliable.
2. To monitor the auditing process and internal control systems of the Company to ensure that they are appropriate and efficient.
3. To select and propose the appointment of the statutory auditor of the Company.
Annual Report 2006 116
4. To supervise and ensure that the Company acts in compliance with the regulations and related governing laws.
5. To consider the disclosure of information regarding connected transaction or transaction that might have conflicts of interest
to be accurate and complete.
6. To prepare the Audit Committee Report relating to corporate governance as disclosed in the Company’s Annual Report. The
Audit Committee Report is to be signed by the Chairman of the Audit Committee.
7. To perform any other tasks that are stipulated in the Articles of Association of the Company.
8. To perform any other tasks that might be delegated by the Board of Directors.

The Management as at December 31, 2006

Name Position
1. Mr. Prachai Leophairatana
Chief Executive Officer
2. Mr. Prateep Leopairut President - LDPE
3. Dr. Pramuan Leophairatana President - LDPE
4. Mr. Prayad Liewphairatana President
5. Mrs. Orapin Leophairatana Senior Executive Vice President
6. Mr. Prasert Ittimakin Senior Vice President-Accounting and Finance Division
7. Miss Chularat Danwattanachai Vice President - Accounting and Finance Division
8. Mr. Anugoon Piyapakorn Assistant Vice President - Accounting Department
9. Mr. Pongsak Yiengsakun Assistant Vice President - Finance Department

Functions and Responsibilities of the Chief Executive Officer

1. To carry out activities prudently to be in compliance with the objectives of the articles of Association and to be in line with
establishing policy as approved by the Board Director of the Company in order to protect the Company’s interests and for the benefit
of shareholders.
2. To monitor daily operational results of each department to carry out effectively and efficiently.
3. To nominate and remove employees of the Company, and to determine their rewards.
4. To report work progress to be in line with the work plan and budget as approved by the Board of Directors.

 

 

 

 

 
 
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