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Bangkok Airways executives resign over SEC sanctions, board to meet

Bangkok Airways Plc, on Monday acknowledged a January 18 news release from the Securities and Exchange Commission (SEC) regarding civil sanctions related to alleged wrongful trading of the company’s shares.

The incident involved Prasert Prasarttong-Osoth, director, vice chairman, chairman of executive management committee and CEO, along with Narumon Chainaknan, executive secretary to the CEO office.

The company said in the Monday release that it had not yet received a letter from SEC detailing the removal of those involved from their director and executive positions.

The release said Prasert Prasarttong-Osoth and Narumon Chainaknan had informed the company that they would pursue efforts to prove their innocence through the justice system.

“Nevertheless, in view of the good corporate governance principle, Prasert Prasarttong-Osoth and Narumon Chainaknan tendered their resignations from the aforesaid positions effective from 21 January 2019,” the release read.

The company has scheduled a meeting of the board of directors for January 24, and would inform the SEC of any developments, said the release.

“In this regard, the Company believes that such matter will not render any negative effect against the financial status and operating result of the Company and its subsidiaries as well as the implementation of its business plan,” the release concluded.

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