THAI picks new board members, Piyasvasti returns

THAI picks new board members, Piyasvasti returns

Former Thai Airways International president Piyasvasti Amranand is now a new board member of the airline. (Bangkok Post file photo)
Former Thai Airways International president Piyasvasti Amranand is now a new board member of the airline. (Bangkok Post file photo)

Former president Piyasvasti Amranand has returned to THAI, which picked him and three other new faces to be new board members ahead of the airline's restructuring.

THAI informed the Stock Exchange of Thailand about the board's decision to replace four people in the board, effective Monday.

Mr Piyasvasti replaced Sirikul Laukaikul, and former PTT Plc president and chief executive Pailin Chuchottaworn took the seat formerly held by Pratana Mongkolkul.

Pirapan Salirathavibhaga replaced Pitipan Tepartimargorn and Boontuck Wungcharoen replaced Pinit Puapan.

Mr Piyasvasti was THAI president in 2009 and was sacked in 2012 by the board over communication problems when he and the board locked horns over the procurement of new aircraft.

Mr Pirapan left the Democrat Party in December to be adviser to Prime Minister Prayut Chan-o-cha.

Mr Boontuck is the former chief executive officer of TMB Bank.

THAI lost its state enterprise status after the Finance Ministry reduced its stake from 51.03% to 47.86% by selling shares to the Vayupak 1 Fund on Friday. The airline reported the bourse about the sale on Monday.

The change cleared the way for the airline to appoint new board members and go ahead with a plan to rehabilitate the business.

THAI shares dipped 56 satang or 11.43% to 4.34 baht on Monday.


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