Business · Companies · 3 hrs ago
ITD president Premchai steps down, with his son serving as acting head
Premchai Karnasuta has announced he is stepping down as president of Italian-Thai Development, a major Thai construction company known as ITD.
The company said he is leaving because he has reached retirement age.
His son Tranit will serve as acting head while ITD decides on a permanent successor.
The company says it will announce that appointment at an appropriate time.
ITD has been struggling with weak business performance.
The leadership change puts attention on whether ITD can recover from that slump.
Premchai Kanasuta has announced that he is stepping down as president of Italian-Thai Development (ITD), a major Thai construction company.
His son is serving as acting head for now.
ITD said Premchai’s departure was due to retirement age.
The company said it would announce a permanent successor at an appropriate time.
The leadership change comes as ITD faces a prolonged business downturn.
- Who
- Premchai Kanasuta is stepping down as ITD president; his son is serving as acting head.
- What
- The company is undergoing a leadership change.
- When
- ITD announced the departure on the 2nd; the month is not stated.
- Where
- ITD is based in Thailand.
- Why
- ITD cited retirement age as the reason for Premchai’s departure.
This story does not have two clearly opposing sides.
ITD announced that Premchai Kanasuta would step down, citing retirement age.
Premchai’s son began serving as acting head while ITD considers a permanent successor.
- Company
- Italian-Thai Development (ITD)
- Departing president
- Premchai Kanasuta
- Acting head
- Premchai’s son
- Reason given
- Retirement age
- Permanent successor
- To be announced at an appropriate time
1 source
What people are saying
retirement age
We will announce [a permanent successor] at an appropriate time.