Somchai likely to be voted BOT board chairman on Friday

Somchai Sujjapongse is expected to be voted as the new Bank of Thailand board chairman on Friday. A selection panel favours him over rival candidate Prof Dr Surapon Nitikrapot. The decision will require Cabinet approval after the vote.

Somchai Sujjapongse, former permanent secretary of the Ministry of Finance, is likely to be voted the new chairman of the Bank of Thailand’s board of directors on Friday, a source from the selection committee has said.

Sathit Limpongpan, permanent secretary of the Ministry of Finance and chairman of the selection committee for the BOT board chairman, stated that his panel would hold a meeting at 2 pm on Friday to vote on two candidates.

After the vote, Finance Minister Pichai Chunhavajira will be informed of the winner, who will then be proposed for Cabinet approval as the next BOT board chairman, Sathit explained.Two candidates are contesting the post. The Finance Minister has nominated Somchai, while the Bank of Thailand has nominated Professor Dr Surapon Nitikrapot from Thammasat University’s Faculty of Law.

A source from the selection committee stated that most panel members believe Somchai is more suitable for the role, making him the likely winner when the vote takes place on Friday.

Surapon holds a bachelor’s degree in economics from Chulalongkorn University and obtained his master’s and doctorate degrees in economics from Ohio State University.He has previously held several key positions in the Ministry of Finance, including director-general of the Customs Department and director-general of the Fiscal Policy Office. From 2015 to 2018, he served as permanent secretary of the Ministry of Finance.

He has also been a board member of several state enterprises, including the Government Savings Bank, the Government Lottery Office, and the Metropolitan Electricity Authority.

Earlier, the selection committee had voted to appoint Kittirat Na-Ranong, a former deputy prime minister and finance minister affiliated with the ruling Pheu Thai Party, as BOT board chairman. However, the Council of State ruled that Kittirat was ineligible for the position as he had not been out of a political advisory role for the required period.

(2025/02/27-00:00)