Thailand: ThaiBev revamps management to boost operating efficiencies
Thai Beverage—controlled by billionaire Charoen Sirivadhanabhakdi—has revamped its management to boost operating efficiencies as the maker of Chang beer expands across Southeast Asia, Forbes reported on January 11.
The company said it has named Thapana Sirivadhanabhakdi, son of ThaiBev’s founder and chairman, as group CEO and first vice chairman. Kosit Suksingha has been appointed president and chief operating officer overseeing the group’s Thai businesses, while Prapakon Thongtheppairot assumes the role of president and group chief operating officer managing international operations. Both executives will report to Thapana.
The changes, which will take effect on June 27, will help enhance operational synergies across its key Southeast Asia markets, comprising Thailand, Vietnam, Myanmar, Malaysia and Singapore, the Bangkok-based company said in a regulatory filing. The revamp will also “expedite business development and investment in new markets to support growth of our regional brand portfolio,” it added.
ThaiBev said it has also been leveraging technology to boost its competitiveness and operational efficiencies. “We deployed artificial intelligence and analytics in our value chain and analyzed data gathered to generate insights that helped enhance our distribution network,” Charoen, 79, said in the company’s latest annual report published earlier this week. “We also rolled out automation and robotics in production that helped raise our production efficiency.”
The company’s revenue rose 2.5% year-on-year to 279 billion baht ($8 billion) in the year ended September 2023, as beer sales volume jumped amid increased consumption and tourist arrivals in Thailand. It’s also expanded the liquor business, with the acquisition of France’s Larsen Cognac and New Zealand’s Cardrona Distillery last year.
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