BANGKOK, Dec 20 – Sorajak Kasemsuvan, president of the national flag carrier Thai Airways International Plc (THAI), has resigned from his position, effective on January 2, citing health problems.
THAI director Kanit Sangsubhan told the media on Friday that Mr Sorajak submitted his resignation, citing health problems, to the board of directors meeting this morning.
Mr Sorajak took the helm of the national carrier in October 2012.
The THAI board of directors meeting accepted Mr Sorajak’s resignation and appointed Chokchai Panyayong, senior executive vice president for commercial affairs, as acting THAI president beginning January 2,
according to Mr Kanit.
The outgoing THAI president also resigned as a board member of Nok Air and THAI Smile.
Mr Kanit said Mr Sorajak’s resignation had nothing to do with his performance. He cited political instability and China’s restriction on outbound zero-dollar tours as causes of net losses.
THAI is expected to suffer a net loss of 4 billion baht following due delivery of new carriers, while the number of passengers carried failed to reach the number targeted this year. The company has repeatedly lowered its profit target from previous 6 million baht in an effort to avoid loss this year but it is likely to record a net loss anyway.
THAI evaluates its president’s performance annually. If the company sees red this year, Mr Sorachak likely will not pass the evaluation which is set to be in 2014.
