The Wind Blows Through THAI, Bringing Something New?

Heavy gusts are hitting Thai Airways International Public Company Limited (THAI), trying to blow some people in THAI away and bring someone new to the company. Before announcing the goner and the newcomer, let’s check out the story of how an airline without a president or even an executive director for more than a year can suddenly find a suitable person to sit on the chair.

No one knows the criteria on selecting the president or any other vacant positions. There are numerous contenders in the race for the president position like Mr.Danuj Bunnag, president’s advisor, Mr. Visit Tantisunthorn, Secretariat of Government Pension Fund’s Boards, Mr. Teerawit Charuwat, former TOT’s managing director, or even Mr. Yongsit Rojanasrikul, governor of Mass Rapid Transit Authority of Thailand. They all failed to match THAI’s unknown criteria for the president position.

In reality, there is a thin line between qualification and favoritism.

 

Then, out of nowhere, THAI’s board of directors have come to a solution to approve Mr. Sumeth Damrongchaitham, Mr. Paiboon Damrongchaitham’s nephew, as the president of THAI on May 21, 2018, raising curiosities of when did the new round selection begin?

The curiosities does not take long to understand when it is evident that Mr. Sumeth holds the position of managing director in Dhanarak Asset Development Co,Ltd. Now, it is clear to everyone that the thin line dividing between “qualification” and “favoritism” is so thin that it almost disappears.

 

Just a little while after that, the board of directors have approved Mr.Ekniti Nitithanprapas as chairman of board and directors (that has been vacant for more than a year) and Mr. Kritbodi Indharachote as vice president of comptroller department (supervising accounting).

It is said that all three new members have been sent to administer THAI’s operation through a discrete selection.

After the “government” have selected the “THAI’s Trio”, now it is time that the gust blows. The signal has been made by a resignation of Mr. Narongchai Wongthanavimok, THAI’s executive vice president, finance and accounting, effective from August 29, 2018. Mr. Narongchai Wongthanavimok, who is a fomer CIMB Thai Bank Public Company Limited (CIMBT)’s vice president of strategic and finance, just had been promoted to the executive vice president, finance and accounting on March 2018.

 

Does the resignation of Mr. Narongchai have something to do with the new THAI’s Trio? Or is it because he has been chosen to be taking the position of Dusit Thani Public Company Limited (DTC)’s chairman of accounting and finance on September 16, 2018?

What is certain is that the heavy gusts will come again soon!