Ending months of media speculation, Kasikorn Bank president Teeranun Srihong has announced his resignation after more than 28 years of service at KBank.
"Today is my last day as bank staff," he said at yesterday's shareholder meeting.
Mr Teeranun took the helm in 2013. The bank at the time appointed him and Predee Daochai as presidents to replace Prasarn Trairatvorakul, who went to head the Bank of Thailand in late 2010.
The country's fourth-largest lender by assets and digital banking leader set up the Kasikorn Business-Technology Group (KBTG) to transform the bank for the digital era, the first among its peers to do so. Mr Teeranun also resigned as chairman of the KBTG subsidiary.
Banthoon: Business proceeds as usual
He has decided to resign to pursue new challenges, though his presidency was not due to end for another two years.
Mr Teeranun graduated with a Bachelor of Engineering degree from Chulalongkorn University and also earned a Master of Business Administration from the University of Michigan.
He started working at KBank's treasury department in 1988 and became the first vice-president of the department, and was then the senior vice-president of the wholesale business marketing and products department.
He was promoted to first senior vice-president of KBank in 2001, executive vice-president in 2006 and senior executive vice-president and infrastructure domain coordinator in 2010.
Apart from Mr Teeranun and Mr Predee, KBank appointed Kattiya Indaravijaya as third president in January 2016 and Pipit Aneaknithi as fourth president in January this year.
The bank's chairman and chief executive Banthoon Lamsam said Mr Teeranun's resignation will not impact on the bank's business or overall management.
KBANK shares closed yesterday on the Stock Exchange of Thailand at 190.50 baht, up 1.50 baht, in trade worth 498 million baht.