Kan is new AIS chairman
ADVANCED Info Service’s board of directors has voted for Kan Trakulhoon to be its new chairman, replacing Vithit Leenutaphong, who resigned yesterday as chairman because of obligations from his personal business.
According to its filing to the Stock Exchange of Thailand yesterday, Kan, who is a former president and CEO of Siam Cement, also became chairman of the Leadership Development and Compensation Committee, replacing Vithit. Kan remains an AIS independent and non-executive director.
He reportedly represents Singapore Telecom on AIS’s board. SingTel is AIS’s foreign strategic partner.
Kan’s appointment is AIS’s latest major management change. Last month, it promoted Hui Weng Cheong to president from chief operating officer. In August, SingTel said it was acquiring 21 per cent of AIS’s parent Intouch Holdings from Temasek Holdings.
SingTel already owns 23.3 per cent of AIS, while Intouch owns 40.4 per cent.
AIS’s board also resolved to include Intouch chief executive officer Philip Chen Chong Tan as a new member.
AIS, the country’s largest cellular operator by subscriptions, posted a third-quarter year-on-year drop of 24 per cent in net profit to Bt6.53 billion due to rising depreciation and amortisation expenses from network expansion and higher cost of funds.
AIS has maintained its market guidance of slight revenue growth this year.
Its subsidiary Advanced Wireless Network agreed with TOT to provide cellular service jointly on a commercial trial basis, beginning on October 16.
According to an AIS press release, Vithit will continue to contribute as a board member of Intouch.
He has also been appointed by SingTel as an adviser on its investment in Thailand.
