AIS head granted additional extension

Somchai Lertsutiwong is to remain chief executive of Advanced Info Service (AIS) for another year, after his contract was extended for the second time.
His original working term at the company expired in 2022, but was extended until December this year.
This latest one-year extension will allow Mr Somchai to continue his pivotal role at the country’s largest mobile operator by revenue until the end of 2025.
AIS has temporarily paused its internal selection process for chief executive succession planning, after previously taking months to choose internal and external candidates.
“Mr Somchai has been assigned to continue overseeing the amalgamation process of Gulf Energy Development and InTouch Holdings, which is scheduled to be completed by mid-2025,” Sarath Ratanavadi, founder and chief executive of Gulf Energy Development and vice-chairman of AIS’s board, told the Bangkok Post. Gulf controls a major stake in AIS.
Both SET-listed companies have announced a strategic merger to restructure related companies within the group to maximise benefits for future operations and investments, and cultivate new growth opportunities in the energy and infrastructure and digital landscapes.
The amalgamation will lead to the formation of a newly listed public limited company, and the conditional voluntary tender offer of AIS and Thaicom Plc.
“He [Mr Somchai] would have to continue his role until the amalgamation process has successfully completed. After that, the company’s board and shareholders will again start considering candidates to replace Mr Somchai,” Mr Sarath said.
He emphasised that he remained intent on finding AIS’s next chief executive.
Mr Somchai also served as chairman of PTT Oil and Retail Business (OR).
There has been a lot of speculation that Pratthana Leelapanang, chief consumer business officer at AIS, is most likely to succeed Mr Somchai.
According to a high-ranking source, who declined to be named, SingTel initially floated the idea of seeking an external chief executive as a way of finding a new growth trajectory, instead of looking at internal candidates.
Singtel Strategic Investments PTE is the second-biggest AIS shareholder, with a 23.31% stake.
“As the mobile business in the modern age can create a large spectrum of digital-related business opportunities ranging from digital currencies to digital transactions, the mobile ecosystem as a whole continues to develop and operators need to catch the pace of change in technology,” the source said.
“It’s not the mobile-only economy like before.”
Since its inception three decades ago, AIS has always promoted chief executives from within the company and has never hired an outsider to lead it.