Thai regulators force Bangkok Airways CE resignation

Bangkok Airways has announced the resignation of its CE after Thai regulators said he must step down and pay penalties for alleged share trading irregularities. Prasert Prasarttong-osoth, the airline’s CE and vice-chairman, tendered his resignation Jan. 21, effective the same day, Bangkok Airways said. Narumon Chainaknan, the executive secretary to the CE, is also resigning. Bangkok Airways noted that the Thai Securities and Exchange Commission (SEC) had issued civil sanctions against Prasert and Narumon. However, the airline said the pair intend to “prove their innocence in this matter through the justice system.” The carrier’s board will meet Jan 24 to discuss the situation. Bangkok Airways stated the penalties and resignations will not have any effect on its financial status, operating results or business plan. <br/>