TIDLOR announces that Piyasak Ukrisnukul has resigned from all positions, and is urgently developing a succession plan for the management team.
TIDLOR informed the Stock Exchange of Thailand that Piyasak Ukritnukul, President and CEO, has resigned from all positions in the company and its subsidiaries, effective April 6, 69. The company is urgently developing a succession plan. The stock fell 6%.
April 7, 2569 – Ngern Tid Lor Holdings Public Company Limited (TIDLOR) Inform the Stock Exchange of Thailand that Mr. Piyasak Ukritnukul has submitted his resignation from the positions of Director and Chief Executive Officer of the Company, effective April 6, 2569.
The company has developed an executive succession plan under the supervision of the Nomination and Remuneration Committee and has begun implementing it to ensure a systematic and smooth transition.
Following his resignation, Mr. Piyasak will continue to support the company during the handover period until October 2569 to ensure a smooth and efficient transition.
The company will continue to conduct its business according to its policies and plans in order to achieve sustainable growth and maximize benefits for shareholders and all stakeholders.
At 10:03 AM, TIDLOR shares fell 6.67%, down 1.00 baht, to 14.00 baht.
Finansia Cyrus Securities It was noted that TIDLOR's share price may face short-term pressure due to the announcement of the resignation of its CEO and director, Mr. Piyasak Ukrisnukul.
The news has drawn a negative view, as Mr. Piyasak plays a significant role in shaping management policy and is a key figure in TIDLOR's image. Although inquiries were made to the company, it was clarified that the resignation was for personal reasons, and that each BU, including lending and insurance, already has a head (General Manager) who determines business strategy.
Furthermore, the long-term business plan is unlikely to change. Initially, we maintain our estimates and "buy" recommendation until there is clarity regarding any adjustments to the 2569 business plan.
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