Two asked to nominate next BOT chairman
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The Bank of Thailand board is asking the central bank's governor and the permanent secretary of the Finance Ministry to nominate candidates for a new chairman of the board by July 29, on expectations of selecting a name by mid-August before forwarding th
BOT Assistant Governor Chanchai Boonritchaisri, who is also secretary of the nomination committee, said the process would take no more than one month, anticipating that the new BOT board chairman would be named by the middle of next month.
The term of the current chairman, Virabongsa Ramangkura, will end on August 1, given his age of 70 years on that day, according to the Bank of Thailand Act, B.E. 2551.
Chaired by former Finance Ministry permanent secretary Suparat Kwatkul, the nomination committee’s seven members convened on Wednesday for the first time.
“There were two main agendas for this meeting. First was selection of Suparat as the committee chairman, and he was assigned to send a letter asking the BOT governor [Prasarn Trairatvorakul] and Finance permanent secretary [Areepong Bhoocha-oom] to nominate candidates by July 29,” Chanchai said.
According to the Bank of Thailand Act, the BOT governor is eligible to nominate no more than two candidates for chairman and the Finance Ministry secretary-general no more than one.
Then, the secretary of the nomination committee will screen candidates’ qualifications within one week after receiving their names. Another committee meeting will likely select from the three candidates the new chairman of the BOT board.
The term in office of the new chairman will be until May 2015, Chanchai said, citing the remaining period of Virabongsa, who assumed the three-year position on June 1, 2012.
If the nomination committee has not yet finalised the name of the new chairman before August 1, the board’s members will still be able to hold meetings.
