THAILAND. Vichai Raksriaksorn (pictured) chairman and CEO of the country’s powerful travel retailer King Power International Group Co, has announced a number of new senior appointments.
• Mr Aimon Raksriaksorn is appointed as group deputy chairman and chief financial officer
• Mr Chulchit Bunyaketu is appointed as group deputy chairman
• Mr Sombat Dechapanichkul is appointed as group managing director
• Ms Susan Whelan is appointed as group deputy managing director
In other appointments which will become effective from 1 May, Mr Pichai Pitakchaisuk will take up the position of import merchandising director and Mrs Siriporn Arayathakul has been promoted to airport operations director.
Commenting on the recent appointments Vichai Raksriaksorn stated: “The new organizational structure has been implemented to optimize the continued and future development of the group activities.” And he confirmed, on behalf of King Power Duty Free Company, that he has signed the exclusive duty free concession contract with the Airports Authority of Thailand on 20 April 2004 – as originally revealed by The Moodie Report.
The concession is for a period of ten years and includes the international airports of Bangkok (pictured), Phuket, Chiang Mai and Had Yai. The new concession contract is effective concurrently, from the opening date of the new Bangkok Suvarnabhumi International Airport, planned for September 2005.
King Power (no relation to the Hong Kong-based King Power Duty Free Group) is one of Asia’s most acclaimed duty free retailers. The contract covers all tax and duty free items, including fragrances and cosmetics, gifts, confectionery and wines and spirits.
The combination of an extended and long-term tenure, allied to a strengthened management team, bodes well for the ambitious Thai retailer. The contract term will allow the company to maximise investment in retail, staff training and development.
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