THAILAND conglomerate Charoen Pokphand Group has groomed a new generation of its leaders in a move to ensure its continuous growth and sustainable success, said tycoon Dhanin Chearavanont.
CP was founded by the Chearavanont family. The CP Group recently appointed Dhanin’s youngest son Suphachai as chief executive officer and Suphachai’s elder brother Soopakij as group chairman. The group also appointed Dhanin, 77, as its senior chairman. Earlier, Dhanin was both CP CEO and chairman.
In an interview with The Nation, Dhanin said that he had focused on developing the plan to ensure the group’s sustainable growth through developing capable human resources and the new generation of leaders.
That includes the establishment of the CP Leadership Institute many years ago under a Dhanin initiative.
At the institute the group’s management staff learn all the processes of running a business, including accounting, procurement, human resource management, logistics and technology.
The idea is that once employees go through this process, they will be able to create innovations for the group.
The group’s businesses include agro-industrial, food, telecom, retail, automotive, and finance.
He added that the qualifications all the CP successors had to have were hard work, patience, honesty, and they also had to know their weak points and then recruit the capable persons to help back up them.
Dhanin added that CP had to keep pace with fast-changing technologies and has collaborated with tech startups to try to explore new businesses and ideas.
Recently, Suphachai said that CP Group would innovate its way to becoming “CP 4.0” by embracing innovation and the digital revolution.
Dhanin said that CP 4.0 would still focus mainly on the food business over the next three to five years but would also utilise more research and development and innovation to enhance the businesses and to boost the nutrition of its food products in order to serve the health conscious new generation.
CP Group and Harvard University initiated a three-year joint research effort in the fields of biotechnology and food, which commenced on September 1, 2015. The research alliance focuses on enzyme development, molecular nutrition, microbiology and genetics to advance research in health foods that satisfy the needs of consumers worldwide.
In 2014 the CP Group announced a collaboration with DuPont, one of the world’s leading science company, in developing sustainable innovative food solutions to meet consumers’ needs in Thailand and the region.
In 2015 it also signed an agreement for a cooperation in research and innovation with the Massachusetts Institute of Technology (MIT) in the US, which focuses on engineering, computer science, biotechnology, architecture, and food science.
This will enable the CP Group to integrate technology into its food production and agricultural business.