Bangkok:OR's board has appointed Nisit Pongwuthipraphan as the new Chief Executive Officer (CEO), succeeding M.L. Piktong Thongyai, whose term will end on February 21, 2027.
According to Thai News Agency, the Board of Directors of PTT Oil and Retail Public Company Limited (OR) approved Mr. Nisit's appointment. The Compensation Review Subcommittee is tasked with negotiating the draft employment contract and determining compensation and benefits with Mr. Nisit. This will be submitted to the Ministry of Finance for approval in accordance with the Standard Qualifications for Directors and Employees of State Enterprises Act B.E. 2518 (1975) and its amendments.
Following approval from the Ministry of Finance, the company will proceed to finalize the employment contract and officially appoint Mr. Nisit as CEO. OR will also inform the Stock Exchange of Thailand of this development. Mr. Nisit, a long-time employee of PTT, previously held the position of Deputy Chief Executive Officer for Corporate Strategy at OR.