TMB Bank has appointed Piti Tantakasem, currently the bank’s chief financial officer, to post of the chief executive officer post, replacing Boontuck Wungcharoen, according to an announcement of TMB chairman Rungson Sriworasat on Wednesday.
Boontuck will remain in his post until this December 31. The appointment of Piti will be effective from January next year.
Rungson said: “The appointment of Piti is a continual and smooth leadership transition at TMB as Boontuck has already completed two crucial assignments for his extended term. The tasks included leading the bank’s digital transformation and managing the succession plan.
“TMB is now ready for the new leadership to continue to lead TMB according to our strategic plan. The board of directors considered Piti a visionary banker, with the right knowledge and experiences, who has been working with TMB since Boontuck started his CEO duty at TMB.
“Piti has also played a major role in mapping out and implementing TMB strategic business plan to achieve the bank’s goals. In addition, Piti is the person who understands and has lived the TMB culture from the start. The board of directors is confident that Piti can lead TMB to leap forward to serve the real needs of our customers effectively as stated in our strategic business plan.”
Piti, 47, is an experienced banker who joined TMB as chief wholesale banking officer. He holds a PhD in strategic management, an MBA and undergraduate degree in industrial engineering.
Before this appointment, he has worked in the banking industry for 25 years in diverse areas including wholesale banking, SME banking, retail banking and capital markets. He also possesses experience as an independent director of state enterprises and private companies.
Boontuck was appointed as CEO of TMB on July 14, 2008 and has turned the bank around from having accumulated losses of over Bt100 billion into a profitable bank which could pay a dividend to shareholders in 2010. It was TMB’s first dividend payment in 14 years.