Chakraphan resigns as MCOT's acting president

Still, Chakraphan will remain at MCOT as its vice chairman.  He is expected to reveal his reason after the meeting is over.

A source at MCOT told The Nation that Chakraphan had submitted his resignation as acting president of MCOT to the board yesterday.

On January 25, the board appointed Chakaphan as acting president, replacing Sura Gaintanasilp, executive vice president of the engineering group, who submitted resignation amid complaints from staff.

The source said that Chakraphan may have faced strong political pressure, as he is trying to revamp news programmes at Modernine TV in order to boost advertising income.

Premkamon Tinnakorn Na Ayutthaya, MCOT director and chairman of audit committee and nomination committee, is reportedly expected to oversee the executive role until the president selection process is completed, probably by the middle of this year.

A source admitted that Chakraphan's move and conflicts would inevitably affect the company.

MCOT's net profit in 2011 slightly fell from Bt1.446 billion in the previous year to Bt1.376 billion. The source said that the first-quarter result remained poor.

The company saw its first-quarter income falling below its target by 3-4 per cent after major advertisers, particularly Japanese companies with plants in flood-hit industrial estates, suspended spending until March.