The Board of Directors is the Company Body with the responsibility to ensure that all IPC management activities such as Corporate Strategy, Internal Supervision, Corporate Secretary Activities, Commercial and Business Development, Engineering and Risk Management, Operations and Information Systems, Finance, HR and Law, and Tranformations & Business Development runs efficiently and effectively and are in accordance with the principles of GCG. The Board of Directors also represents the Company both internally and externally. The Board of Directors always carries out business management as well as manages and protects company assets, management, strategies, and budget plans on a regular basis.

In particular, the Board of Directors continuously implements the strategies set in an effort to achieve the Company's vision, mission, values and Corporate Roadmap. The Board of Directors also ensures that all components of IPC work within the corridors of the Company's values consistently.

BOARD OF DIRECTORS DUTIES

The Board of Directors is responsible for carrying out all actions relating to the IPC management for and in the best interest of IPC and in accordance with the intent and purpose of IPC, and to represent IPC inside and outside court on all matters and events except for matters considered unlawful by legislation and GMS Decisions for the Board to do so.

Each Director shall in good faith and full responsibility carry out the duties for the interests and business of IPC. The Board of Directors is fully responsible for discharging its duties for the benefit of IPC in achieving its goals and objectives.

In discharging its duties, the Board of Directors complies with IPC’s Articles of Associations and all applicable regulations and implements the principles of professionalism, efficiency, transparency, independence, accountability, and fairness.

BOARD OF DIRECTORS AUTHORITIES

The Board of Directors has authority to:

• Stipulate the Company’s management policy;
• Arrange the transfer of Board of Directors power to one or more members of Board of Directors to take decisions for and on behalf of Board of Directors or to represent the Company in and out of court;
• Arrange the submission of the power of Board of Directors to a person or several employees of the Company individually or jointly or to others, to represent the Company in and out of court;
• Arrange provisions concerning the employment of the Company including the determination of salaries, pensions or old-age pensions and other income for the Company’s workers under applicable laws and regulations, with the provision that salaries, pension or old age benefits and other income for workers exceeding the obligations stipulated by law and regulations must obtain prior approval from the GMS;
• Appoint and dismiss Company employees in accordance with the Company’s employment regulations and applicable laws and regulations;
• Appoint and dismiss the Corporate Secretary;
• Conduct all other actions and acts concerning the administration or ownership of the Company’s assets, binding the Company with other parties and/or other parties with the Company and representing the Company in and out of court of all matters and events, with limitations as stipulated in legislation, the Articles of Association and/or GMS decisions.