Thai opinion: Hanker for the life of a corporate god? Think again

[webfact]

STREETWISE
Hanker for the life of a corporate god? Think again
Achara Deboonme

BANGKOK: -- Most top executives at major companies envisage themselves as corporate chiefs. They do, after all, enjoy absolute power and extravagant lifestyles.

A multimillion-dollar question may take months to discuss, but when it's decision time the boardroom must listen to the chief. And while the rest of us grapple with heavy traffic daily, they ease back in the comfort of chauffeur-driven cars, sipping coffee and catching up with the news.

Travelling for business, these potentates never have to worry about room rates. Their companies are eager to impress potential partners and so usually book rooms on the executive floor, where hotel staff double as secretaries, helping to arrange meals and transport for the pampered execs.

To get there, they often fly Business Class. Some 40 years ago, top executives spent most of their working hours in Bangkok offices, with only occasional visits to plants upcountry. Cars were the favoured mode of transport as few provinces were covered by Thai Airways International - the only domestic airline back then.

Nowadays some, like Adirek Sripratak, vice chairman of Charoen Pokphand Group and president of Charoen Pokphand Foods, even have a private jet at their disposal. That might explain why Adirek travels so often. Last week, India and Russia were his destinations. As CPF operates in 15 countries, he has to cover plenty of ground, and quickly.

However, the advent of mobile tech means time away from the office no longer equates to lost business. Smartphone in pocket, Adirak can check e-mails anywhere. For chat he has the LINE app (though you won't find Dhanin Chearavanont on his contact list - CP Group's chairman prefers voice calls).

Along with the jet-set life comes a salary commensurate with running an enterprise that boasts annual sales of nearly Bt500 billion.

Yet anyone beginning to feel a twinge of envy at this point should remember there is a downside. Along with the great pay comes great responsibility and great sacrifice.

Bosses have the final say, but before they decide on anything they need to do their homework. And that means studying piles of data on the issue.

Hunkered down in Business Class or even the armchair of a private jet, most are too busy sweating over figures and choices to enjoy the view outside.

Now that planes come equipped with power sockets and wireless connection, there is no respite from the tyranny of the e-mail inbox. And when they get to their executive hotel rooms, there is seldom time to take a nap or enjoy the lavish surroundings.

Glass of champagne in hand, do they really get to savour the taste amid the cut and thrust of business talks?

We can safely surmise that Kan Trakulhoon, president and CEO of Siam Cement Group, is among those corporate chiefs who earns millions of dollars each year. His innovative Heim house is set for completion next year, offering him a comfortable, safe home as his retirement begins.

For now, though, he's still working and has the added temporary challenge of having to operate in the dark after recent eye operations. Ordered not to use his eyes, his mind has to be as sharp as ever while his secretary reads him e-mails.

The rise of social media also means that corporate chiefs need to be mindful of negative online publicity. Nobody is more aware of that than Thiraphong Chansiri, the second-generation of the family-owned Thai Union Group. Greenpeace recently launched a global campaign against the company's products, claiming slave labour in the supply chain. Last month, a rumour that McDonald's had banned fish from Thailand due to slave labour proved false. These issues need to be handled sensitively if the seafood empire is to avoid damaging repercussions.

Sensitivity to public sentiment is also a focus at CP Group. It was that focus which put Suphachai Chearavanont, executive director of the group, on a bumpy ride deep into forestland in Nan before continuing on foot under the hot sun to plant bamboo trees in a campaign against land encroachment. The move followed accusations that his company, along with other chicken-rearing enterprises, was indirectly encouraging corn farmers to encroach on protected forest.

CP Group execs also need to accommodate EU investigators, scheduled to check Thailand's compliance with new rules over illegal, unreported and unregulated (IUU) fishing (though such practices provide only 5 per cent of the feed for shrimp exported to the European Union).

Thailand's top bosses can count themselves fortunate, however, that they are not subject to the public outcry over executive pay that their Western counterparts now face. Sales for top Thai companies are still growing, with executive pay following suit. But though such growth has disappeared in the United States and Britain, their company chiefs continue to prosper. According to MoneyWeek, by 2014, executives at companies on the Financial Times Stock Exchange 100 Index (FTSE) made an average 4.3 million pounds per year - an increase of 73 per cent over the last decade. That is roughly 1,100 pounds an hour, meaning they made as much in a couple of days as the average worker makes in a year. And that goes against the trend of the financial performance of their companies.

Busy with business problems, it's no surprise that several top Thai executives have complained they lack time for leisure pursuits like exercise. And as most of them are past 50 by the time they reach the corporate heights, weight is often an issue. A diet of lavish business functions doesn't help rein in waistlines.

During a recent chat with Adirek, the CP chief revealed he envied journalists for their opportunities to meet people from across the professional spectrum.

It seems that every man has wishes that cannot be fulfilled by his job.

Source: http://www.nationmultimedia.com/opinion/Hanker-for-the-life-of-a-corporate-god-Think-again-30272097.html


-- The Nation 2015-11-03

[anotheruser]

Is this article written to inform children of the duties of a CEO? I am finding it hard to believe that whoever wrote this actually thinks they are sharing worthwhile information with grown adults.

[WhizBang]

Who wrote this, and why? And why did The Nation publish it?

[chainarong]

The probable reason for this item is to point out the shortcomings of looking up to the wealthy, admiring the rich and Thailand did just that, from 1997 onwards Thai's admired people with wealth, that is one reason the Thai Love Thai party came to power , I remember Thaksins first day of Parliament , Thaksin arrived in a yellow Porsche, yes yellow and I commented , anyone who drivers a Porsche hasn't a clue how to run the country or what the people want ,, he promised all the right medicine, but gave out sugar coated pills . History lesson finished for those who came in late..........

[FangFerang]

"Yet anyone beginning to feel a twinge of envy at this point should remember there is a downside. Along with the great pay comes great responsibility and great sacrifice."

Again, with the myth.....and it's a world wide myth, at that.

[fred Kubasa]

All CEO BS as, with today's hi tech communication systems, it is no longer

necessary to travel to get things done and most personal contacts do NOT require the CEO to go but an underling. Essentially these are tax deductible,

including the jet, used to cover shopping/personal trips not business !

Interesting to note the private jet and yet Warren Buffet and Bill Gates,

and the Queen Of England plus many of the most important and richest people in the world don't see this need !

[Thai at Heart]

It's nice working for an oligopoly.

[Srikcir]

"They do, after all, enjoy absolute power"

Fairly ignorant statement. Most CEO's are responsible to a Board of Directors and majority shareholders. And of the company is publically-traded they have to mind the Security Exchange regulators. Nothing absolute in that kind of role.

CEO power is not like Prayut's absolute power where he has unfettered access to the nation's treasury, can evade any criminal prosecution, remove people without due process of law, and initiate and control any criminal investigation.

[Thian]

If it's so hard then why does he still work? Sell it all and enjoy the money.