Succession tops agenda of SET board

Succession tops agenda of SET board

A shortlist expected to comprise three candidates for president of the Stock Exchange of Thailand will top the agenda at today's meeting of the SET board of governors.

Charamporn: Term ending on May 31

Chanitr Charnchainarong, SET's executive vice-president who heads the issuer and listing division, is tipped to be on the shortlist to succeed Charamporn Jotikasthira, whose term ends on May 31.

The other two likely candidates are Kesara Manchusree, the SET's executive vice-president overseeing the market division, and Paiboon Nalinthrangkurn, chief executive of Tisco Securities and chairman of the Federation of Thai Capital Market Organizations.

The shortlist was picked by the selection committee after it interviewed each applicant about their vision for the future of the exchange.

"The selection committee has already sent the shortlist to the board. Details will be discussed in the meeting," the outgoing president said.

The SET’s 11-member board of governors consists of Kaisri Nuengsigkapian, chief executive of KPMG Thailand; Sasitorn Phongsathorn, executive director and president of Land and Houses Bank; Suthichai Chitvanich, a former SET senior vice-president; Yothin Nerngchanong, chief executive of Thai Plaspac Plc; Sathit Limpongpan, SET's chairman; Pattera Dilokrungthirapop, chief executive of DBS Vickers Securities and chairman of the Association of Securities Companies; Chaipatr Srivisarvacha, executive chairman and chief executive of Seamico Securities; Charnchai Kongthongluck, president of Trinity Securities; Suthep Peetakanont, chairman and chief executive of Capital Nomura Securities; Rapee Sucharitakul, a former SEC senior assistant secretary-general; and Mr Charamporn.

Bordin Unakul, secretary of the selection committee and also the SET's executive vice-president for corporate services, said a conclusion might not be reached today, as the board's members may need to hold detailed talks to ensure the process is conducted in a transparent manner.

A formal vote may not be necessary if the 11-member board shows a clear preference for a particular candidate, said Mr Sathit.

In the meantime, Bualuang Securities president Pichet Sitti-Amnauy said the new president should have insights into the stock brokerage business and undertake jobs of the previous president.

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