43 General Principles Good Corporate Governance Principles Directors’ Code of Business Ethics Appendix Code of Business Ethics Anti-Corruption Electricity Generating Public Company Limited 1.3 Directors’ Term Independent Director • Serves a term of three years, with one year meaning the duration between appointment at AGM of until the subsequent AGM. • Independent Directors must hold the position for 6 consecutive years from the date of their first appointment. The Board may re-appoint such Independent Directors but no longer than 9 consecutive years, taking into account their knowledge, expertise, and necessity for the interest of Company. 1.4 Directorship in Other Companies The Board prioritizes efficiency of directors’ performance, for full devotion to carrying out duty of corporate governance. This is the rationale for the policy of directors’ holding director or top executive position in other listed companies. Executive director should not hold directorship in more than two listed companies; and non-executive director should not hold directorship in more than three listed companies. Director • Serves a term of three years, with one year meaning the duration between appointment at AGM of until the subsequent AGM. • Directors retired by rotation may be reappointed for continuity of the Board, without limitation of terms in recognition of expertise and track record of serving the Company in order that EGCO is able to maintain the skillful and experienced directors, which is one of the success factors in corporate governance.
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