NEX Point Public Company Limited (SET: NEX) stated that the appointment of Mr. Kittikorn Phinitwongwitthaya as Co-Chief Executive Officer (Co-CEO) has been made solely for the purpose of formulating marketing strategies and strengthening the company’s future business operations, pending the completion of negotiations and the finalization of all relevant agreements between the Company and its counterparties.
Although Mr. Kittikorn Phinitwongwitthaya has been appointed as an executive director, he has not been authorized to attend meetings of the Executive Committee, except for the purpose of presenting future marketing strategies.
At the initial stage, NEX has clearly defined the scope of authority. Mr. Kittikorn Phinitwongwitthaya does not have the authority to bind the company by signature, nor does he have any authority to approve or authorize payments. All approval and disbursement powers remain vested in the duly authorized persons and are subject to NEX’s established governance framework.
NEX acknowledges that Mr. Kittikorn Phinitwongwitthaya continues to hold shares in Thai EV Co., Ltd., which operates in the same industry. Nevertheless, the company has implemented formal written measures to manage conflicts of interest in order to address concerns relating to competition and the use of inside information.
Mr. Kittikorn Phinitwongwitthaya is required to abstain from participating in the consideration of, expressing opinions on, or taking part in decision-making concerning matters directly related to competitors or those that may give rise to a conflict of interest. In addition, his access to confidential and strategic information has been restricted on a strict need-to-know basis, with ongoing monitoring and controls over information access.
In considering any transaction that constitutes, or may constitute, a related party transaction, NEX will comply strictly with applicable laws and regulations. Such matters will be subject to review and opinion by the Audit Committee and/or an independent financial advisor (where required), together with full and transparent disclosure and the abstention from voting by interested persons, as prescribed.
NEX confirms that all actions have been conducted in accordance with principles of good corporate governance and sound corporate governance standards. The company places the highest priority on transparency, accuracy and completeness of information, and strict compliance with applicable laws and regulations. Internal processes will be continuously reviewed and monitored to ensure that all management actions and decisions are undertaken in the best interests of the company, its shareholders, and all stakeholders.
