Google

ASEANAFFAIRS
Sign up | Log in

    ASEAN PROFILES

  ASEAN KEY DESTINATIONS

Home  >>   Daily News  >>   Thailand  News  >>   Energy  >>   PTT prexy moves on
NEWS UPDATES Asean Affairs        11  April 2011

PTT prexy moves on

Related Stories

April 6, 2011
Thailand’s Bangchak takes greener focus

April 2, 2011
Oil discoveries in Gulf of Thailand

March  18, 2011
Nuclear safety in Thailand needs review

February 4, 2011
Thai firm plans wind energy project

February 1, 2011
Regulators worried over Thailand's free electricity scheme

Prasert Bunsumpun has only six months left in his term as president and chief executive of the PTT Group, Thailand's largest income generator and biggest company by market capitalisation. He will leave the high-profile position that he assumed five years ago and the company he has served for 33 years.

PTT's future strategic plan is one of his priorities as the company faces intensified competition within the industry and future challenges from regional integration under the Asean Economic Community from 2015.

But another vital issue requiring his, and PTT's, attention is the selection of an appropriate successor.

''The new CEO must be hard-working, able to be part of the team and embrace flexible management. He must be not merely good, but rather great and skilled, '' said Mr Prasert.

He is confident a company insider will be selected rather than an outsider, although the selection process is wide open to all who meet the requirements. The company's board will soon set up a screening committee.

''We're not some failed organisation that needs an outsider to rehabilitate us,'' said Mr Prasert. ''How would we answer if the public asked what was wrong with our own human resources and why we failed to cultivate leaders from within?''

Prajya Phinyawat, the chief operating officer for PTT's downstream petroleum business, says the next chief executive must continue to focus on developing the company's own technology to add value to its petroleum and petrochemical products.

''He should be aware that the world's leading national oil and gas firms such as Gazprom, Petrobras and Petronas have their own wells that churn out excess output for export, while our country has only gas in the Gulf of Thailand that is nearly depleted. Developing technology to add value to petroleum and petrochemicals is therefore a must,'' said Mr Prajya.

Mr. Prasert said the new boss must also be skillful in fending off political meddling. ''The new CEO must clearly understand who the real owners of the company are, and they are not some handful of politicians. PTT is majority-owned by the Finance Ministry. It is a national asset with millions of retail shareholders. If the new boss is just here to play political games, then he won't last long,'' he said.


Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
  Online Ad Rates
Contact: marketing@aseanaffairs.com

Comment on this Article. Send them to  your.views@aseanaffairs.com

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
 
or
submit your comment in the box below
Name

Name


Email

Email



1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code



 
Today's  Stories    11  April 2011 Subsribe Now !
 • Newly discovered species shows biodiversity Subcribe: Asean Affairs Global Magazine
• Cambodian news show ordered to stop Asean Affairs Premium
• Stung by Asean-China deal, Indonesia wants FTA delay
Research Reports
on Thailand 2007-2008

•Textiles and Garments Industry

•Coffee industry

•Leather and footwear industry

•Shrimp industry

 
• Indonesia exempts oil, gas vessels from law
• Malaysia considers capital inflow controls

• Philippines public transport fuel subsidy starts

• Subsidy issues plague Thailand 

• PTT prexy moves on p

Asean Analysis    11  April 2011

Advertise Your Brand

• Overexposure to electronic media

Sponsor Our Events

Asean Stock Watch    11  April 2011

p

• Asean to set new record highs

p

Global News Impacting Asia    17 November 2010

p

• Bank of America sees Asian inflation

p

• Lloyd’s increases insurance push in Malaysia

p

• Wells Fargo analyst on euro

p

• Obama’s visit to Asia

p

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent

• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore
• Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline
• Vietnamese PM projects 10-year socioeconomic plan

ASEAN  ANALYSIS

This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

 

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand
asean@aseanaffairs.com