Thai Airways Expands Board to Strengthen Oversight and Risk

Thai Airways International plans to enlarge its board from 11 to at least 15 directors to bolster governance and enable a dedicated risk management committee, chairman Lavaron Sangsnit told local media. The airline currently operates only two committees—audit, and nomination and remuneration—as required by the Stock Exchange of Thailand. Lavaron noted that corporate governance rules prevent directors from serving on multiple committees, and the chairman does not sit on any, leaving too few members to create additional oversight bodies.

The carrier is accepting nominations for new directors ahead of its December annual general meeting. A selection panel is slated to endorse eight candidates by October 19, including four replacements for outgoing directors and four new appointees. The list will be reviewed by the board on October 23 before being presented to shareholders for approval. Lavaron emphasized the need for a professional, top-tier board, underscoring a transparent process and reiterating that Thai Airways will remain a listed company rather than a state-owned enterprise.

The Ministry of Finance is the largest shareholder with a 38.9% stake. Thai Airways lost its state enterprise status during its four-year business rehabilitation when government holdings fell below the 51% threshold. Addressing speculation of political interference, Lavaron said that under his chairmanship there will be no corruption and that all decisions must be transparent.

At the October 23 meeting, directors will also consider management’s proposal to lease eight to ten additional widebody aircraft to replace nine units whose leases recently expired, supporting capacity and network plans.

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Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com