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TTA announces appointment of Chalermchai Mahagitsiri as its Executive Vice Chairman

Back Feb 04, 2013

Bangkok, Thailand, 4 February 2013 -- Thoresen Thai Agencies Public Company Limited ("TTA") today announced that Mr. Chalermchai Mahagitsiri has been appointed Executive Vice Chairman. In this capacity, he will play an active role in setting the Company’s strategic direction, investment, risk profile, human resources, and public affairs strategies. The appointment, which is effective 1 February 2013, was considered and approved by TTA’s Board of Directors on 30 January 2013.

Commenting on his appointment, Mr. Mahagitsiri stated, “I feel honoured that the Board has placed its trust in me by giving me the opportunity to take a more prominent role in managing TTA’s business strategy and operations.  With the tremendous focus that has been put towards streamlining our operations, TTA is undoubtedly well positioned to capture growth across all core business units. In my new role, I look forward to working alongside the Board and the business unit management teams with the aim of ensuring that we capitalise fully on the opportunities ahead.”  

Aside from his role as Executive Vice Chairman of TTA, Mr. Mahagitsri also serves as acting Chief Executive Officer of TTA’s oil and gas services subsidiary, Mermaid Maritime Public Company Limited (“Mermaid”), and acting Managing Director of TTA’s coal logistics business, Unique Mining Services Public Company Limited ("UMS").

TTA’s President and CEO, M.L. Chandchutha Chandratat, will remain responsible for day-to-day management of TTA and will continue to oversee the Company’s three business groups - Transport, Energy and Infrastructure. He will work closely with Mr. Mahagitsiri on major business initiatives, investments and human resources issues.

In addition to his positions with TTA, Mr. Mahagitsiri has managed and grown a number of public and private enterprises through his roles as Chief Executive Officer of PM Group Co., Ltd, Vice Chairman of both Posco-Thainox Public Co., Ltd. and Thai Film Industries Public Co., Ltd., Director of Quality Coffee Products Co., Ltd and Managing Director of Lakewood Country Club Co., Ltd. He holds an M.S. in Finance from Boston University and a B.S. in Finance from Suffolk University, both in USA. Mr. Mahagitsiri completed the Thai Institute of Directors Association’s Director Accreditation Program (DAP 30/2004) and the Directors Certification Program (DCP 53/2005) in 2004 and 2005, respectively.

About TTA
Thoresen Thai Agencies Public Company Limited ("TTA") is a strategic investment holding company listed on the Stock Exchange of Thailand (TTA:TB). Its investment strategy is to grow through a balanced and diversified business portfolio of transport, energy, and infrastructure assets, both domestically and internationally. TTA's evolution away from a pure dry bulk shipping operator began in 1995 with an investment in Mermaid Maritime Public Company Limited, which has since been listed on the Singapore Stock Exchange (MMT:SP). Since then, TTA has acquired interests in fertiliser and logistics (Baconco Co., Ltd.) coal-related businesses (SKI Energy Resources Inc, Merton Group (Cyprus) Limited, and Unique Mining Services Public Company Limited), petroleum tankers (Petrolift, Inc) and a port in Southern Vietnam (Baria Joint Stock Company of Service for Import Export of Agro Forestry Products and Fertilizers). For more information, please visit www.thoresen.com

For further information, please contact:
Thoresen Thai Agencies Plc
Ravisada Angkeeros E-mail: ravisada_a@thoresen.com
Tel: +66 2254 8437 Ext. 393 Mobile: +6681398 5098

Or MSL Hong Kong
Eric Abelev E-mail: eric.abelev@mslgroup.com
Tel: +852 2804 8107 / +852 6355 8420