The Finance Ministry has nominated Somchai Sujjapongse, a former finance permanent secretary, as a candidate for the new board chairman of the Bank of Thailand, replacing Kittiratt Na-Ranong.
According to a source from the Finance Ministry who requested anonymity, the ministry submitted the candidate's name to the selection committee, which is chaired by former finance permanent secretary Satit Limpongpan.
The ministry previously proposed Mr Kittiratt, a former finance minister and commerce minister, as well as a former managing director of the Stock Exchange of Thailand, for the role of central bank board chair.
However, objections were raised regarding whether Mr Kittiratt's qualifications conflict with the Bank of Thailand Act, which requires candidates be out of political office for at least one year.
Mr Kittiratt recently served as the chief advisor to former premier Srettha Thavisin. The ministry referred the matter to the Council of State for review, which concluded it was a political position, forcing the ministry to find another candidate.
Somchai Sujjapongse photo by KRIT PROMSAKHA NA SAKON NAKHON
Somchai Sujjapongse served as finance permanent secretary from Oct 1, 2015 to May 1, 2018.
He said he resigned before reaching retirement age because he was dissatisfied with his reassignment to the position of secretary-general of the National Economic and Social Development Council under the Prayut Chan-o-cha government.
Throughout his career at the Finance Ministry, Mr Somchai held several positions, including director-general of the Customs Department, director-general of the Excise Department, director of the State Enterprise Policy Office, and director of the Fiscal Policy Office.
After leaving government service, he became board chairman of Thai Insurance Plc, a subsidiary of Thai Group Holdings owned by whisky tycoon Charoen Sirivadhanabhakdi.