Unilever Thailand names Robert Candelino as chairman
Unilever Thailand yesterday announced that chairwoman Supattra Paopiamsap would become a non-executive board member of the company from April 1.
Robert Candelino, vice president of marketing for Unilever’s North America haircare business, will succeed Supattra as chairman of Unilever Thailand.
Supattra became the first Thai woman to head Unilever’s Thai operation.
Candelino has been with Unilever for more than 20 years, gaining experience in multiple functions in countries such as Canada and the United States, as well as general management roles across the globe.
Advertising spending forecast to rise 10% to Bt133.6 bn
The Media Agency Association of Thailand (MAAT) predicted yesterday that this year’s overall advertising expenditure would grow by 10 per cent to Bt133.6 billion from last year but slightly below Bt136.7 billion in 2015.
MAAT chairman Triluj Navamarat said digital TV business and digital media would continue to be key growth engines for the industry. Overall advertising spending via TV outlets is expected to grow by 15 per cent to Bt82 billion, while online advertising expenditure is likely to hit Bt12 billion for the first time with an increase of 31 per cent.
Out-of-home media will follow the same growth path. Advertising spending via cinema, outdoor and transit media are estimated to enjoy growth rates ranging from 8-10 per cent compared with last year.
However, radio advertising will see zero growth at Bt6 billion, while ad spending in newspapers will decline by 22 per cent to Bt11 billion and that in magazines by 20 per cent to Bt2.566 billion.
MPC keeps policy rate at 1.50% as recovery picks up pace
The Bank of Thailand’s Monetary Policy Committee (MPC) yesterday unanimously voted to keep the policy interest rate at 1.50 per cent, citing that the economy was now expected to recover at a faster pace than previously estimated.
While the economy is projected to grow more rapidly on the back of a more broad-based recovery, the improved growth outlook is subject to various risk factors that require close monitoring, the MPC said.
The benchmark rate has been at the current level since April 2015, when it was reduced by 25 basis points.
The MPC took the view that monetary policy should remain accommodative, and said it would stand ready to utilise an appropriate mix of available policy tools to ensure that monetary conditions are conducive to the economic recovery, while ensuring financial stability.
Furthermore, the central bank noted that headline inflation had returned to the target band in December, with inflation now expected to continue an upward trajectory.
PepsiCo pair split top duties in Thai operation
Pepsi-Cola (Thai) Trading has appointed two executives to oversee PepsiCo business in Thailand.
Omer Malik was named general manager for beverages and Kurt Preshaw general manager for foods for Thailand, Myanmar and Laos. Both executives will lead PepsiCo’s snack and beverage operations in Thailand.
They will also head the company’s sustainability efforts in Thailand’s combined non-alcoholic-beverage and salty-snack markets, valued at up to Bt190 billion.
