Authority and Responsibilities of the Managing Director
he Managing Director shall have authorities and responsibilities as assigned by the Board of Directors within the Company’s regulations. The Responsibilities of the Managing Director can be summarized as follow.
- Manage and control the Company’s normal business operations.
- Implement on any issue as assigned by the Board of Directors.
- Oversee an overall business operation to be consistent with the policies provided by the Board of Directors.
- Approve procurement, cancellation, or selling of assets, investments and other expenses necessary for business operation, details are mentioned in the authority plan.
- Approve asset procurement, expenses due to the Company’s operation, and/or contracts with the business partners, details are mentioned in the authority plan.
- Consider business strategies and funds raising plan to propose to the Board of Directors by priority.
- Hire, appoint and terminate employees, determine remuneration rate, give award, raise salary, remuneration and bonus for employees at all level according to the remuneration policies.
- Open and close bank deposit accounts with financial institutions to facilitate normal business operation. The decision must be made base on the Company’s best interest.
- Approve the appointment of consultant as necessary for business operation through the Company’s Board of Directors.
In all, the Managing Director must comply with the Company’s regulations and the Board’s resolution. The Managing Director must not approve any transaction that she or related person may potentially have conflict of interests with the Company or subsidiaries. The transaction with such nature must be disclosed to the Board of Directors for consideration.
The Managing Director cannot approve any actions other than what are mentioned above, unless assigned by the Board of Directors.