The board of Thai Airways International (THAI) Plc has established four key subcommittees and is preparing to convene next month to develop the airline’s future business strategy.
Board Chairman and Permanent Secretary for Finance Lavaron Sangsnit said a special board meeting held yesterday marked a major step forward for the company, which had experienced operational delays due to the absence of legally required subcommittees.
In accordance with regulations governing large publicly listed companies with 15 directors, THAI appointed four core subcommittees: the Executive Committee, Risk Management Committee, Nomination and Remuneration Committee, and Audit Committee.
Mr Lavaron noted that the appointment process was complex due to legal requirements. All members of the audit committee must be independent directors — with at least three required — and are prohibited from serving on certain other subcommittees.
The meeting also approved new authorised signatories to replace individuals whose terms had expired or who had left their positions. Previously, a Civil Court order had suspended certain corporate actions, preventing the appointment of signatories and delaying important transactions. Once the restrictions were lifted, THAI moved quickly to restore operational continuity.
Mr Lavaron emphasised that the meeting did not include any agenda item related to the purchase of new aircraft.
Looking ahead, he said the company will hold a regular board meeting on January 19, followed by a general meeting in February to define THAI’s strategic direction. Newly appointed professional directors will participate and present their visions for the airline’s future.
“We are preparing for a strategic meeting to outline the company’s long-term business direction, with an emphasis on professionalism and transparency,” Mr Lavaron said. “Establishing a strong governance structure will enhance investor confidence and support sustainable growth. Our goal is to achieve solid performance so that dividend payments can eventually resume, benefiting both investors and shareholders.”
Regarding creditor cooperatives that converted debt into equity and plan to sell their shares, Mr Lavaron said this falls within their rights. He added that all restrictions related to the lock-up period will expire on February 4.