Update on CP Group Governance Programme

June 15, 2018

Announcement Date: June 27, 2016



Dear Shareholders



We committed to you in April to provide a progress update on the programme of governance reform that the CP Group announced earlier this year. Over the past two months, we have been working to appoint members to the CP Group Corporate Governance Committee and agree its scope. 



We have now finalised who will be appointed from our executive team as well as representatives from the Boards of our major listed entities (see Appendix). After a comprehensive recruitment process, we are also close to finalising the appointment of six highly respected, independent governance experts. Their involvement will help ensure that our governance system meets world-class standards. We will announce the names of the independent members of the Committee ahead of the first Committee meeting, which we are scheduling in the third quarter of this year.



I will sit on the committee personally and will chair it initially to help set the programme in motion and ensure its recommendations are applied through the business and our subsidiaries.



To support the establishment of the Committee, as well as ongoing work thereafter, we have retained international corporate relations and legal advisers. Both will also advise on our roll-out of a CP Group governance review, a programme of training for Company Directors and senior management, and monitoring and assessment to ensure effective implementation of these initiatives.



As I outlined previously, our overall aim is to install high quality governance infrastructure, develop and implement clear policy guidelines and achieve meaningful change in mind-set and behaviour. 



We will send further updates in the next few months as this programme of work progresses. Thank you for your continued trust and support. 



 



Dhanin Chearavanont



Chairman of Charoen Pokphand Group of Companies



APPENDIX: CP Group Corporate Governance Committee



CP Group Executive Directors:  




  1. Mr. Dhanin Chearavanont (Chairman of Charoen Pokphand Group of Companies)

  2. Mr. Adirek Sripratak (Vice Chairman, President and Chief Executive Officer, CP Foods; Director of CP All and Siam Makro)

  3. Dr. Ajva Taulananda (Group Vice Chairman, Vice Chairman of True Corp.)

  4. Mr. Soopakij Chearavanont (Group Executive Vice Chairman, Director of True Corp., CP All, Siam Makro and CP Pokphand)

  5. Mr. Suphachai Chearavanont (Group Vice Chairman, CEO and Director of True Corp., Director, CP Pokphand)

  6. Mr. Tanin Buranamanit (Director, Managing Director and Chief Executive Officer, CP All) 

  7. Mr. Umroong Sanphasitvong (Deputy Group  CFO; Director of True Corp. CP All, and Siam Makro)  



 CP Group Independent Non-executive Directors: 




  1. Dr. Chaiyawat Wibulswasdi (Independent Director, Chairman of the CSR and Sustainable Development Committee and Member of the Audit and Corporate Governance Committees, CP Foods)

  2. Dr. Kosol Petchsuwan (Independent Director, Chairman of the Corporate Governance Committee and Member of the Audit Committee, True Corp.)

  3. Professor Prasobsook Boondech (Independent Director, CP All)



External Independent Members: 



    Six external independent members (three Thai, three international), to be announced soon.



 


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