The Bank of Thailand (BoT) is set for a new governor after its incumbent head Veerathai Santiprabhob decided against seeking a second term.
Mr Veerathai won’t apply for another five years at the head of the monetary authority for family reasons, Assistant Governor Chantavarn Sucharitakul said in a statement on Monday.
Mr Veerathai will ensure a smooth transition, she said. His term is due to expire at the end of September.
Last week, selection committee head Rangsan Sriworasart said the application period for the next chief at the BoT will run for 15 business days, from May 26 to June 16, and the shortlist of candidates will be concluded by July 2. The committee will meet on June 18 to compile the list of applicants, who will each present their vision for the central bank late in June.
The candidates will not be announced until the selection process is finished, Mr Rangsan said. If there were only one or no candidates, the application period would be extended.
With the bleak economic outlook stemming from the pandemic, the next central bank governor will face a challenging task, he added.