Thai Airways Shareholders Approve Slimmed-Down Board Amid Restructuring
Eleven directors appointed after vote at extraordinary general meeting; airline continues recovery plan
Shareholders of Thai Airways International Public Company Limited have given the nod to a new 11-member board of directors, down from the initially proposed 12, during an extraordinary general meeting held electronically on Friday.
The key agenda items at the meeting included approving the size of the board, appointing new directors, and determining the individuals authorised to legally bind the company.
Chansin Treenuchagorn, the administrator overseeing Thai Airways’ business rehabilitation plan, informed Thansettakij that the first agenda item saw shareholders vote on whether the board should comprise 11 or 12 members, with the decision ultimately settling on 11.
Consequently, the second agenda item, which considered the appointment of nine new directors, required a reduction to eight.
A shareholder vote resulted in Chatchai Rojanasrinangkura, a representative director from the Electricity Generating Authority of Thailand Savings Cooperative Limited, receiving the fewest votes and therefore not being appointed.
These eight new appointees will join the three current board members whose terms are ongoing: Piyasvasti Amranand and Chansin Treenuchagorn, both rehabilitation plan administrators, and Air Chief Marshal Amnat Jeeramaneemai. This brings the total number of directors on the revamped board to 11.
Regarding the third agenda item, the shareholders approved the appointment of Piyasvasti Amranand and Chansin Treenuchagorn as temporary authorised signatories for the company while it remains under its business rehabilitation plan.
Chansin added that the selection of the new Chairman of the Board will be made by the board members themselves once Thai Airways has successfully exited the rehabilitation process.
The shareholder meeting saw a significant turnout, with 82% of shares represented, equating to roughly 24 billion out of the total 28 billion shares.
The results of the shareholder vote indicated that Mr Chai Eamsiri, the Chief Executive Officer of Thai Airways, received the highest number of votes.
The newly approved 11-member board of Thai Airways comprises:
- Piyasvasti Amranand, Rehabilitation Plan Administrator
- Chansin Treenuchagorn, Rehabilitation Plan Administrator
- Air Chief Marshal Amnat Jeeramaneemai
- Lavaron Sangsnit, Permanent Secretary of the Ministry of Finance, Director
- Dr Kulaya Tantitemit, Director-General of the Excise Department, Director
- Chakree Bamrungwong, Advisor on Land Transport Economics, Director
- Police General Thatchai Pitaneelabutr, Inspector-General of the Royal Thai Police, Director
- Napakorn Thanasuwankasem, Finance and Banking Expert, Independent Director
- Yanyong Dechpirattanamongkol, Special Prosecutor from the Office of the Attorney-General, Independent Director
- Samrit Samniang, Former Executive of PTT Exploration and Production Public Company Limited, Independent Director
- Chai Eamsiri, Chief Executive Officer of Thai Airways, Director
