On December 2, PTT Oil and Retail Business Public Company Limited (PTTOR) informed the Stock Exchange of Thailand regarding the selection of its new Chief Executive Officer. The company’s Board of Directors, in meeting 11/2024 on November 19, approved M.L. Peaktong Thongyai as the most suitable candidate for the CEO position. Subsequently, in a special meeting on November 29, the Board finalized compensation, benefits, and a draft employment contract for the role.
The proposed terms and conditions will now be submitted to the Ministry of Finance for approval. Upon the ministry’s endorsement, PTTOR will sign the employment contract and proceed with the formal appointment of M.L. Peaktong Thongyai as CEO.
The selection and compensation process was conducted transparently, adhering to the guidelines under Section 8 Quarter 3 and Quarter 7 of the Standard Qualifications for Directors and Employees of State Enterprises Act, B.E. 2518 (1975), and its subsequent amendments.
This appointment underscores PTTOR’s commitment to robust governance and leadership as it navigates the dynamic energy and retail sectors in Thailand.