Oishi Group Founder Resigns Amid Rumor of Internal Rift

The founder of Oishi Group has submitted his resignation amid speculation of an internal rift within the group. His resignation will become effective on September 9.

Paiboon Kujareevanij, Deputy Managing Director of Oishi Group, said that at the fifth board meeting yesterday, the board acknowledged the intention of Tan Passakornnatee to resign as the group's board member and managing director. His resignation will become effective on September 9.

Tan, who is credited as the founder of Oishi, said he would not elaborate on his decision to quit, adding that a press conference will be held to officially announce his resignation today.

He confirmed that he would not sell the remaining shares of the group he currently holds.

His resignation is announced amid an unconfirmed report that there is an internal rift within the group.

His decision to quit is speculated to stem from the fact that he lost control of the group after he sold most of his shares.

Tan and his wife sold 103 million share units, or 43.9 percent of their shares in Oishi for 3.352 billion baht to Thai Beverage on September 30, 2008.

Thai Beverage then continued to offer to buy shares from other shareholders until it acquired 89.9 percent of the group's shares. Tan now holds 3.50 percent of the group's shares.

-- Tan Network 2010-07-29

Thai beverage took over in 2008.

the quality of the food at oishi buffet declines slowly since then.

internal rift.

hope they don't take the quality down even more