Corporate Governance
Good corporate governance is a fundamental foundation for stable and sustainable growth. CPF therefore promotes ethical organizational management that respects rights and upholds accountability to shareholders and stakeholders by integrating operations at all levels—from the Board of Directors and management to operational functions. This is carried out under corporate governance policies and structures that take into account competitiveness, adaptability to change, stakeholder responsibility, and the creation of shared and sustainable long-term value.
Corporate Governance and Sustainable Development Policies and Practices
The Company applies the principles of good corporate governance as established by the Stock Exchange of Thailand, the Securities and Exchange Commission, the Organisation for Economic Co-operation and Development (OECD), as well as corporate governance assessment frameworks of international sustainability indices, in formulating its corporate governance and sustainable development policies. The implementation of these policies is regarded as a shared commitment of the Board of Directors, management, and employees of the Company and its subsidiaries.
Corporate Governance and Sustainable Development Policy
Covering five main categories
Shareholder Rights
Equal Treatment of Shareholders
Roles toward Stakeholders
Disclosure of Information and Transparency
Responsibilities of the Board of Directors
The Company promotes strict adherence by all directors, executives, and employees to the Code of Business Conduct, which serves as a key corporate governance mechanism to reinforce ethical operating standards across the organization. The Code also functions as an oversight tool for the Board of Directors and is integrated with risk management and regulatory compliance, enabling Governance, Risk, and Compliance (GRC) to operate in a coordinated and systematic manner.
To ensure the effectiveness of governance mechanisms and compliance practices, the Company conducts evaluations of compliance with relevant policies and regulations and reports the results to the Board of Directors at least once a year. In addition, the Company promotes organization-wide learning on corporate governance and sustainable development across all levels of employees through regular training programs, including fundamental corporate governance courses, Code of Business Conduct training, anti-fraud and anti-corruption courses, and ESG training on an annual basis.
Corporate Governance Structure
The Company has established a corporate governance structure in which the Board of Directors operates independently from management. The Board of Directors, acting as representatives of the shareholders, has the duties and responsibilities to oversee and monitor management’s performance to ensure that operations are carried out in accordance with the objectives, strategies, and plans approved by the Board, on the basis of compliance with applicable laws, rules, and regulations, in order to achieve the greatest benefit for the Company and all stakeholders.
In addition, the Board of Directors has appointed five specialized subcommittees to review and scrutinize specific areas of operations as delegated, prior to submission to the Board of Directors for consideration and approval, thereby enhancing the effectiveness and efficiency of the Board’s oversight functions.
The Company regularly reviews its Board structure, including the number of directors, the proportion of independent directors, as well as the directors’ qualifications in terms of knowledge, competencies, and experience, to ensure alignment with the Company’s business operations on an annual basis. At present, the Board of Directors comprises a total of 15 members.
In 2025, the Board of Directors comprised
Non-Executive Directors
Independent Directors
Male
Female
Board of Directors
Remark: Further details on corporate governance can be found in the Annual Report 2025 (Form 56-1 One Report), Part 2: Corporate Governance.
