The Risk Management Committee is composed of at least 3members appointed from the Company’s directors and top executives with relevant knowledge, competence and experience that enable achievement of objectives. The committee composition is regularly reviewed to fit with the Company’s organization structure and nature of business.

As of December 31, 2023, the Risk Management Committee comprised 5 members whose terms last 3 years according to the Corporate Governance and Business Ethics Manual of the Company. In 2023, the Risk Management Committee held 1 meeting. Members of the committee and their attendance at the meeting in 2023 are as follows:

Note : Additional information and changes during 2023

^\1 Mr.Kittisak Chuang-a-roon has been appointed as member of the Risk Management Committee, replacing Mr. Sompohb Budspawanich, effective from November 14th, 2023, onwards, According to the resolution of the Board of Director’s Meeting No.5/2023, held on November 14th, 2023.

^\2 Ms. Janjira Panitpon has been appointed as member of the Risk Management Committee, replacing Ms. Chonlaya Promsri, effective from November 14th, 2023, onwards, According to the resolution of the Board of Director’s Meeting No.5/2023, held on November 14th, 2023.

^\3 Mr. Sompohb Budspawanich has been transferred to GMM Music Co., Ltd., effective from September 1st, 2023, onwards.

^\4 Ms. Chonlaya Promsri has been transferred to GMM Music Co., Ltd., effective from September 1st, 2023, onwards.

Duties and Responsibilities of the Risk Management Committee

With the scope of authorities, duties and responsibilities as specified in the Risk Management Committee Charter is, The Risk Management Committee perform duties as assigned by the Board of Directors as follows:

1. Assessing and presenting policies, set risk management policy and framework and propose to the Board of Directors for approval.
2. Examining and agreeing on acceptable risk levels, approve risk management plans and present to the Board of Directors.
3. Continuously monitoring, develop and comply with policies and the risk management framework so the GRAMMY Group will have a risk management system that is uniformly effective throughout the organization to ensure that policies continue to be observed.
4. Assessing risk identification and assessment procedures, report on significant risk management activities and enforce procedures to ensure that the organization has sufficient and appropriate risk management systems in place.
5. Coordinating with the Audit Committee about significant risk factors and appoint an internal risk assessment team to ensure that the GRAMMY Group’s risk management system is appropriate to the exposure, adapted as needed and adopted throughout the organization.
6. Continually reporting to the Board of Directors on significant risks and risk management solutions.
7. Recommending and advising the Risk Management Committee and/or departments and/or the relevant working committees about significant risks about risk management, as well as evaluate the appropriate means to improve various databases that are related to the development of risk management solutions.
8. Appointing Sub-Committees and/or additional related personnel, or replacements in the Risk Management Committee and/or the Department and/or the working team that is related to managing risks as necessary, as well as determine their roles and responsibilities in order to achieve the objectives.
9. Executing other activities that pertain to managing risks as assigned by the Board of Directors.

 

Remark : Could be considered the profiles of individual sub-committees. More Details