Pailin quits as Thai Airways director over eligibility issue

[webfact]

Pailin quits as Thai Airways director over eligibility issue

By The Nation

 

 

Director of Thai Airways International Plc Pailin Chuchottaworn resigned from the airline's board a day after his appointment due to legal issues about his eligibility.

 

Pailin, a former deputy minister of transport, has been out of the ministerial position for less than two years, which makes him ineligible under the law.

 

On Wednesday (May 27), Thai Airways informed the Stock Exchange of Thailand that Pailin had resigned as a director of the company, effective from May 26, a day after being appointed and being named in the Thai Airways Rehabilitation Plan.

 

Prapas Kong-Ied, director-general of the State Enterprise Policy Office, said the resignation of Pailin was in keeping with the law as he had been out of a ministerial position for less than two years. The law says an individual cannot serve as the director of a private company for two years after holding a ministerial position.

 

He said there was no urgent need to appoint a new director in place of Pailin as the regulations of the Securities and Exchange Commission specify a company must have at least five board members while Thai Airways has more than the minimum required.

 

Source: https://www.nationthailand.com/news/30388645

 

-- © Copyright The Nation Thailand 2020-05-28

 

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[BritManToo]

9 minutes ago, webfact said:

Pailin Chuchottaworn resigned from the airline's board a day after his appointment due to legal issues about his eligibility.

 

 .........The regulations of the Securities and Exchange Commission specify a company must have at least five board members while Thai Airways has more than the minimum required.

Translated to ...........

1) nobody told him how bad the theft/corruption/nepotism/losses really were.

2) In this case, 315 more board members than the minimum required.

[rkidlad]

4 minutes ago, webfact said:

Pailin quits as Thai Airways director over eligibility issue

  

Maybe you should try due diligence in future. The fact these things aren't being checked just confirms what most people think about the whole ineptitude of this regime.  

[Misterwhisper]

41 minutes ago, webfact said:

Pailin, a former deputy minister of transport, has been out of the ministerial position for less than two years, which makes him ineligible under the law.

And the question arises: Why does the government NOT know about its own laws or - perhaps more to the point - disregard them? After all, Pailin had been appointed by a government committee, was he not?

 

But kudos to Pailin for actually having done the right and decent thing, not an aspect local politicians and other assorted bigwigs are necessarily renowned for.

 

Yet there are more questions, of course:

 

45 minutes ago, webfact said:

the regulations of the Securities and Exchange Commission specify a company must have at least five board members while Thai Airways has more than the minimum required.

So... why is that exactly? Why are there more board members than actually needed (and I reckon its a LOT more)? I mean, each one of them costs Thai Airways a tidy wad of money...

 

And why did Pailin have to be appointed in the first place, although the board already had more than enough members?

[Chang_paarp]

Duck and cover!

Abandon ship!

Plausible deniability.

Dodged a bullet.

 

These phrases jumped to mind as I read this. As deputy minister for trnsport he would have had a better than average idea of the true state of Thai. It seems the "golden handshake" tarnished a little in the light of day.

[CNXexpat]

Perhaps he thought that he can manage that officials and VIPs have to pay the full price like normal people, but he thought wrong. Then he gave up.

[klauskunkel]

1 hour ago, webfact said:

must have at least five board members while Thai Airways has more than the minimum required

yea, and that's the problem, right there

[sammieuk1]

A golden hello and goodbye in 24 hours no wonder there are no refunds coming ????

[rkidlad]

Just saw something in Thai news where Thai Airways said they don't have the money to offer refunds. They're not sure when they will. Hope this isn't part of their cutting-costs plan because it's a bad one. 

[Bender Rodriguez]

pretty sure he will be paid his weight in gold for the inconvenience

[Sydebolle]

Does he qualify for a lifelong pension now with freebies all the way? 

[Misterwhisper]

1 hour ago, Sydebolle said:

Does he qualify for a lifelong pension now with freebies all the way? 

And did he receive a thick and juicy severance pay package?

[hotchilli]

16 hours ago, webfact said:

Prapas Kong-Ied, director-general of the State Enterprise Policy Office, said the resignation of Pailin was in keeping with the law as he had been out of a ministerial position for less than two years. The law says an individual cannot serve as the director of a private company for two years after holding a ministerial position.

The usual musical chairs...

[LomSak27]

11 hours ago, Misterwhisper said:

12 hours ago, Sydebolle said:

Does he qualify for a lifelong pension now with freebies all the way? 

And did he receive a thick and juicy severance pay package?

He probably already got that. No I assume this more to do with rodents fleeing a sinking ship. No one really cares about rules anyway. When he saw the financials, the real financials. He found a legal loophole to GET OUT. No one wants to be on the Titanic, even if you get a first class cabin & deck chair, when it goes down. I bet he thinks himself one Lucky <deleted>

 

That is a vote of confidence.

 

 

[BobbyL]

The news just gets stranger and stranger regarding this.

 

As I said in a previous topic on this, I really hope one day we get a full exposé on THAI and how its been ran in the last decade.