The Erawan Group is managed on
the principle of good corporate governance

The Erawan Group Public Company Limited has conducts the business based on the Corporate Governance Principle by focusing on a law-abiding operation and adhering to morality and business code of conduct where the information is disclosed in a transparent and straightforward manner. We also established the internal control system and auditing mechanisms to ensure that our operations are effective and efficient. We operate the business by taking into account our responsibility in every aspect to shareholders and stakeholders. The Company Board of Directors’ structure, that stipulated 36.36% of total number must be independent directors, was consist of 4 sub-committees in order to supervise the management in detail.

The Board of Directors has announced a corporate governance (CG) policy with commitment to pursue our business on the CG principle on the basis of legal compliance, integrity and the Code of Conduct where information is disclosed with transparency and where an internal control system and mechanism is put in place to reassure confidence among shareholders, financial institutions, business partners and all stakeholders.

In 2021/2022, the Company embarked on a pivotal journey on the CG policy and practices by launching the Code of Ethics for Business Partners not only to manage our relationship with partners but also to strengthen work processes that will ultimately add values to all stakeholders. As we believe in supply chain management that takes into consideration the principle of sustainable development, we commit to use it as a guideline when conducting business to cover Environmental, Social and Governance (ESG) dimensions. We hope that this, which is translated into a supporting document annexed to the contract, will generate long-term values with our suppliers and enhance our competitive edge. (Please see Attachments 6: Code of Ethics for Business Partners for more information)

Directors, executives and all staff have recognized the CG policy, code of conduct and the anti-corruption policy. A department is entrusted to monitor and survey customer satisfaction and to prevent all forms of corruption. The Company actively raises awareness in this issue by communicating with employees through our website and organizing internal training to share corruption knowledge. The Company also provides a test to assess the understanding and awareness of fraud of the new staff in the Orientation Program. From the results of the internal audit and good corporate governance process in 2022, the Company did not find intentional fraud of employees both inside and outside.

Corporate Governance can be divided into eight areas as follows: