President is out “because he cannot work with the strategy committee”
Thai Airways’ board has taken the step of sacking its president, Piyasvasti Amranand, because of apparent disagreements over strategy. The decision has been criticised by the airline’s union. Piyasvasti Amranand, a former energy minister, became the airline’s president in October 2009 at a time when the opposition Democrat party was in power. Thai Airways is 51% owned by Thailand’s Finance Ministry.
The airline’s chairman, Ampon Kittiampon, said: “The board has agreed to terminate the president’s contract because he cannot work in unity with the strategy committee.”
Piyasvasti Amranand has been credited with launching cost-cutting measures, including cuts in the salaries of senior executives, and observers say that his dismissal could prevent an early return to profit for the airline. For now, the carrier’s vice president for strategy and business development, Chokchai Panyayong, has been appointed acting president.