Yol Phokasub will step down as Siam Commercial Bank (SCB) president, effective July 1, after 14 months at the helm.
"Khun Yol recently realised that now is an appropriate time to bring his valuable experience gained during his time at the bank to pursue his goals and spend more time with his family. As a result, he is resigning from his post with an effective date of 1 July 2016," the country's third-largest bank by assets said in a statement released yesterday.
Mr Yol, however, will remain as SCB's director and executive director.
The bank's board of directors will appoint an appropriate person to become the new president and will make an announcement once the Bank of Thailand approves, SCB said.
Mr Yol was appointed president in April last year to succeed Kannikar Chalitaporn on his retirement, while Arthid Nanthawithaya was at the same time named as chief executive and deputy chairman of the executive committee.
Both top executives report directly to executive chairman Vichit Suraphongchai.
Mr Yol started working at SCB in 2007 as senior executive vice-president in charge of retail banking and the bank's branch network.