Time for a younger BoT chief: DPM
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Time for a younger BoT chief: DPM

New candidate must have 'broader vision'

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Pichai: Urges break from tradition
Pichai: Urges break from tradition

The next governor of the Bank of Thailand (BoT) should come from the younger generation with a broad vision and forward-looking perspective as the financial situation today is evolving rapidly, Deputy Prime Minister Pichai Chunhavajira said on Sunday.

The next BoT governor will replace Sethaput Suthiwartnarueput, whose term will end on Sept 30.

Mr Pichai said the ideal candidate should be a break from tradition due to the turbulent nature of today's markets, currency-related challenges involving both the yuan and dollar, and the emergence of digital technology in the sector. "The next BoT governor should have a broader vision," he stressed.

However, he said that it was too soon to give any specific names.

Permanent secretary for Finance Lawaron Sangsanit said the selection process can still incorporate this vision for a new-style governor as more than eight months remains before Mr Sethaput's term ends.

By law, the selection process must begin at least 90 days before the current governor's term ends, meaning the process should start in June.

The process requires a new selection committee, which could include individuals from the committee responsible for selecting the BoT board chairman and other BoT board members.

Regarding the selection of the BoT board chairman, the Ministry of Finance said candidate Kittiratt Na-Ranong was verified by the Council of State as not meeting the qualifications.

The source said the council interpreted Mr Kittiratt's previous positions as adviser to the prime minister and chairman of a committee tackling public debt as political positions, which negated his eligibility for BoT board chairman.

The ministry is waiting for instructions from the selection committee chaired by former finance permanent secretary Sathit Limpongpan on next steps. If a new nomination is required, the ministry will proceed accordingly.

Despite the current BoT board chairman's term having expired, the committee's work is unlikely to face disruptions. The BoT deputy chairman will act as interim chairman until his term ends.

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