BOT Board Selects Somchai Sujjapongse as Chairman

A source from the Ministry of Finance has confirmed that the Board Chairman Selection Committee of the Bank of Thailand (BOT) has chosen Somchai Sujjapongse as the new chairman of the central bank’s board. 

The selection process involved nominations from both the Ministry of Finance and the BOT, with each proposing one candidate.

The Ministry of Finance put forward Somchai , former Permanent Secretary of Finance, while the BOT nominated Suraphol Nitikraipot, a public law professor at Thammasat University’s Faculty of Law.According to Sathit Limpongpan, chairman of the selection committee, the selection process concluded on February 28, 2025. The next step involves submitting the nomination to the Minister of Finance for Cabinet approval. Once endorsed by the Cabinet, the appointment will be presented for royal approval.

Sathit emphasized that the selection process was conducted without external pressure, consistent with past practices. However, he noted that the official announcement of the appointee must wait until all legal procedures and formal approvals are completed.


 Somchai 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.

(2025/02/28-00:00)