Patareeya does not intend to seek automatic renewal of new term

However, he did not mention whether she would extend her term.

If she were interested in a new term, when her current term is about to end, she can apply to the nominating committee for the position.

That would open up the opportunity for other people to try for the post, however.

Patareeya became the SET's first woman chief when she took the helm in 2007 after Kittiratt Na Ranong resigned.

The SET president's term lasts four years.

"In Patareeya's case, the nominating committee agreed that it is unnecessary to consider her new term at the moment as it ends in the middle of next year.

"Therefore, I don't want anyone to interpret that she wants to renew the term and I would like to confirm that a conflict among SET's highranking executives is not true as reported," Pakorn said.

"The report was not fair to her because she in the [committee's recent] meeting showed spirit by not spontaneously renewing her term because she wants to open up the chance to seek the presidency through applying instead of going through the nomination process," he said.

A local newspaper reported a rift in the SET's organisation after Patareeya objected to renewing the contracts for three executive vice presidents - Sopawadee LertManaschai, Nongram Wongwanich and Suthichai Chitvanich - at the recent nominating committee meeting. The panel eventually renewed the terms of the three executives due to pressure from staff.

The committee chaired by Pakorn is undertaking the role of the SET's board of governors in appointing and renewing terms of executives as part of the SET's plan to demutualise within three years.

Pakorn denied the report that the committee did not want to renew the terms of the three EVPs, saying they were capable managers.

He said that during the SET's early retirement scheme running from April to this month, 98 employees applied for the programme while the terms of 45 employees expired, reducing the SET's headcount to 800.

The SET would spend Bt180 million on the early retirement offer.

Pakorn also said the committee investigating former Government Pension Fund secretary-general Visit Tantisunthorn would summon Visit next Monday to clarify allegations of insider trading.

The probe would be concluded within two weeks, he said.