At the meeting the Board passed a resolution to reappoint Mr. Suwit Mapaisansin, Managing Director of Merrill Lynch Phatra Securities Co. Ltd., for his second term as a SET governor, and to appoint Mr. Suthep Peetakanont, Chairman of the Executive Board of Capital Nomura Securities Plc, as a SET governor, filling the position vacated by Mr. Wiboon Perm-Arayawong, who has already served two consecutive terms. The terms of both new governors will run for two years, from May 28, 2001 until May 27, 2003.
"SET is delighted with the two governors chosen to work with the SET Board, and is confident that the knowledge and experience of the two governors will be beneficial to the Exchange's future operations," said Mr. Vicharat.
The SET's Board of Governors comprises 11 individuals, all of whom are fully qualified. Five are appointed by the Securities and Exchange Commission (SEC), and another five are elected to the positions by SET member companies. SET Board of Governors serve a term of two years. When their terms expire, they may be appointed for a further term, but they may not serve for more than two consecutive terms.
