SET-listed tech and ICT solution provider Samart Corporation is following through with a major reshuffle in executive positions as it wants the next generation to rise through the ranks and explore new business.
The company's board on Tuesday appointed president Watchai Vilailuck executive vice-chairman in charge of corporate strategy and new business development.
He will be replaced by Teerachai Phongpanangam, executive vice-president in charge of utilities and transport.
The board also approved executive vice-chairman Thananan Vilailuck as executive chairman.
This appointment will be effective from March 1.
Mr Watchai called the reshuffle a "normal" practice as the company has a policy of supporting internal candidates for promotion in their fields.
The firm has a clear succession plan in place to ensure its business is streamlined efficiently and continuously.
"This also fosters a sense of ownership among executives and the next generation of employees," he said.
Mr Watchai said now is the appropriate time for him to move to the new position to explore and create new businesses for the firm.
He said Mr Teerachai, who has been with Samart for more than 20 years, is an experienced, capable man for president and his past achievements have been guaranteed.
According to Mr Watchai, Samart is gearing up for the business-to-government-to-consumer model with solutions put forward for state agencies and state enterprises to ensure better services for the public.
The model which focuses on the "all win" principle will be beneficial to the public, state and private sectors, he said.
"The company is also focusing on developing new business solutions and mobile applications to catch up with the global trend and investing in interesting startups," he said.
"I believe we have passed through the hard time and now it is the time to recover and create business foundations for the company's sustainability."
The company reported revenue of 9.49 billion baht in 2020, down 33.5% from the year before.
Revenue from sales, contracted work and services fell 35.6% year-on-year to 9.1 billion baht.
The decline was attributed to the impact of the pandemic on ICT solutions and services as well as utilities and transportation business.
