Thai axes president
12 / 06 / 2012
THAI Airways International’s board is sacking its president Amranand Piyasvasti due to disagreements over strategy.
Panyayong Chokchai, vice-president of strategy and business development, is now the acting president, says the airline’s chairman, Kittiampon Ampon.
“The board has agreed to terminate the president’s contract because he cannot work in unity with the strategy committee,” he adds.
“Not that he is incompetent but there wasn’t as much unity as there should be in communications between him and the company’s board.
Piyasvasti was given a month’s notice and six months’ severance pay.
The country’s finance ministry owns 51 per cent of the airline. When the last government came to power it made Piyasvast – an ex-energy minister – president of the airline in October 2009. It was Piyasvast who launched cost-cutting measures and slashed salaries of senior executives. Now Jamsri Sukchotirat, chairwoman of the airline’s labour union, says the airline’s recovery is under threat.
"The board has to clarify the decision because [Piyasvast] met key performance targets, the airline’s operations have improved and he has no problem working with employees," Jamsri says.
Thai is facing increasing competition from Cathay Pacific and Middle Eastern carriers within the region and to Europe and Australia.
Thai Cargo’s second freighter arrived at Suvarnabhumi Airport on 4 May 2012 and entered service on 15 May.