Mr. Chavalit said that the reason for the decision to leave the SET was that Mr. Vicharat wanted to free-up the barriers in managing the exchange in order to strengthen the capital market in the long run.
The Board of Governors accepted his resignation and it will be effective from September 1, 2001. In this occasion the Board of Governor of the Stock Exchange of Thailand also appointed Mr. Kittiratt Na-Ranong to the position of the SET President replacing Mr. Vicharat and will be effective September 10, 2001.
