SEC eager to recruit top post for commission

The Securities and Exchange Commission (SEC) is opening the recruitment process for a new secretary-general to replace Ruenvadee Suwanmongkol, the regulator said in a statement yesterday.

Ms Ruenvadee's four-year term ends on April 30.

An SEC board meeting on Feb 2 voted unanimously not to renew the contract with Ms Ruenvadee.

Secretaries-general are allowed to stay in office for two consecutive terms, or eight years in total. The new secretary-general will assume the office on May 1.

"Applications will be accepted from Feb 7 to 27," the SEC statement said.

The SEC board plans to decide on a replacement, which will be forwarded to the Finance Ministry before proceeding to the cabinet for endorsement, said the regulator.

Holding an MBA degree from the University of California at Berkeley and a Master of Laws from Harvard Law School in Cambridge, Massachusetts, Ms Ruenvadee was the director-general of both the Legal Execution Department and the Probation Department at the Justice Ministry before taking the helm at the SEC.

The board's decision not to extend another four-year term to Ms Ruenvadee was not made known to the public until the SEC issued the statement yesterday.

The board reportedly met a couple times to decide on her tenure.