True Corporation Plc announced yesterday that Dhanin Chearavanont resigned as chairman of the board effective June 13 and will be replaced by his son Suphachai Chearavanont.
The company notified the Stock Exchange of Thailand about the resolution on June 14, and also of the resignation of Soopakij Chearavanont, director and member of the compensation and nominating committees.
Mr Dhanin in April resigned as chairman of SET-listed Charoen Pokphand Foods Plc, Thailand's largest agribusiness conglomerate, citing other business keeping him from his CPF duties.
Mr Dhanin's net worth is US$7.4 billion (557.3 billion baht), according to Forbes. The Chearavanont family remained the richest in Thailand with wealth of 938 billion baht in 2018, the magazine said.