Billionaire Dhanin Chearavanont has resigned as chairman of the board from SET-listed Charoen Pokphand Foods Plc, Thailand's largest agriculture conglomerate, citing how other business is keeping him from performing his CPF duties.
The decision took effect on Wednesday.
"In this regard, the remuneration and nominating committee is in the process of selecting [a] qualified person to fill such vacancy and will nominate to the board for further consideration and appointment," said CPF company secretary Kobboon Srichai.
Mr Dhanin's real-time net worth is US$17.4 billion (557.3 billion baht), according to Forbes. The Chearavanont family remained the richest in Thailand with wealth of 938 billion baht in 2018, the magazine said.
The majority of the Chearavanont fortune is controlled through Charoen Pokphand Group. The 80-year-old tycoon and his billionaire brothers control more than 51% of the group, which has interests in agriculture, food, retail, property development and telecom, Bloomberg reported.
