THAILAND: Thai Bev president quits

By just-drinks.com editorial team | 3 January 2008

The president of Thai Beverage has resigned.

The company said yesterday (2 January) that Samut Hatthasing stepped down from the post as of the beginning of this month. Hatthasing will continue as a board member, but will be replaced as president by Thapana Sirivadhanabhakdi in a temporary capacity.

Specific reasons behind Hatthasing's decision were not disclosed.

Late last month, ThaiBev said, Hatthasing was appointed fourth executive vice chairman by the executive board.

"Following the resignation of Mr Hatthasing and the appointment of Mr Sirivadhanabhakdi, ThaiBev will continue to have 22 directors on its board and 12 executive directors," the company said.

Late last year, the Thai drinks producer, which owns the Beer Chang brand, posted a slip in third quarter net profit, as rising costs took their toll. net profit for the three months to the end of September reached THB1.93bn (US$64.7m) from THB2.29bn in the same period a year earlier.

Sectors: Beer & cider, Soft drinks, Spirits, Water

Companies: Thai Beverage