Eastern Water Resources Development and Management Pcl, the country’s largest non-state water provider, appointed five directors effective today after the chairman of the board resigned.
Former Airports of Thailand chairman Sita Divari resigned Friday as chairman of Eastern Water Resources Development and Management Plc, along with four board members. They were replaced Monday. (Bangkok Post file photo)
Sita Divari resigned Nov 28 and four other directors left the company at the end of last month, the Bangkok-based utility said in a stock exchange filing without providing an explanation.
Mr Sita, known to be close to deposed former prime minister Thaksin Shinawatra, stepped down as chairman of the Airports of Thailand in June. He'd been chairman and a director since June 2013.
A call to the office of the chief executive officer after regular business hours wasn't answered. Eastern Water has 14 directors including the chairman, according to its website.
Eastern Water, 40% owned by the state-run Provincial Waterworks Authority, reported an 8.7% decline in third-quarter earnings last month on net income of 315 million baht. The shares have retreated 12% this year compared with a 23% gain in the SET Index.