Oct. 6--Central Group of Companies, a leading retailer and hotelier, has restructured its organisation by putting a younger generation in charge of business management, says chairman Wanchai Chirathivat.

The move was made in anticipation of future expansion of its retail, hotel and food services businesses, he said.

Mr Wanchai said the restructuring would also improve efficiency. Under the new structure, it has set up two new boards, a supervisory board (SB) and CEO management board (CMB). The SB is responsible for ensuring that the CMB carries out its management functions effectively, in compliance with the intention of the Central Group's board.

Suthichai Chirathivat is the SB chairman, Suthikiati Chirathivat is the vice-chairman, and Suthichart Chirathivat and Sudhisak Chirathivat are directors.

The CMB is empowered to manage the businesses of all companies in the Central Group including investments in various projects, annual budget preparation and allocation, long-term strategic plans for each core business, and co-ordinating efforts to achieve overall business objectives.

The CMB is chaired by Sudhitham Chirathivat, with seven top executives of companies in the group as executive directors: Suthilaksh Chirathivat, Kobchai Chirathivat, Prin Chirathivat, Tos Chirathivat, Pichai Chirathivat, Gerd Steeb, and Thiradej Chirathivat.

Mr Wanchai said the restructuring marked another important change intended to give free rein to younger executives with knowledge, capability and experience as CEOs of each company to join forces in running the business of Central Group through the CMB.

"The change is necessary to cope with today's business environment and be well prepared for rapid and synergistic expansion in the future, with policy focusing on branding, value enhancement, strategic alliance and better image about social corporate social responsibility," he said.

The CMB will also aim to become an organisation of excellence, highly regarded both within the country and worldwide, representing Thailand internationally. Such success is expected to translate into a profitable business enterprise paying fair dividends to shareholders, he said.

"From now on, I place my hope and the future of Central Group in the hands of the CMB," Mr Wanchai said.

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