Thursday, August 13, 2020

Pailin quits as Thai Airways director over eligibility issue

May 28. 2020
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By The Nation

Director of Thai Airways International Plc Pailin Chuchottaworn resigned from the airline's board a day after his appointment due to legal issues about his eligibility.

Pailin, a former deputy minister of transport, has been out of the ministerial position for less than two years, which makes him ineligible under the law.

On Wednesday (May 27), Thai Airways informed the Stock Exchange of Thailand that Pailin had resigned as a director of the company, effective from May 26, a day after being appointed and being named in the Thai Airways Rehabilitation Plan.

Prapas Kong-Ied, director-general of the State Enterprise Policy Office, said the resignation of Pailin was in keeping with the law as he had been out of a ministerial position for less than two years. The law says an individual cannot serve as the director of a private company for two years after holding a ministerial position.

He said there was no urgent need to appoint a new director in place of Pailin as the regulations of the Securities and Exchange Commission specify a company must have at least five board members while Thai Airways has more than the minimum required.

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