TMB Bank's board of directors has appointed chief financial officer Piti Tantakasem the successor of chief executive Boontuck Wungcharoen, who will step down from the post at the end of the year.
Mr Piti, who was widely speculated by the media to take over the top job at the country's seventh-largest bank by assets after Mr Boontuck's retirement, will also be a board member for the bank, according to a filing with the Stock Exchange of Thailand.
The appointments will take effect from Jan 1, 2018.
Mr Piti, aged 47, was promoted to his current position in June this year after serving as chief wholesale banking officer since November 2008.
Prior to joining TMB Bank, he worked at Kasikornbank and Kasikorn Asset Management.
Mr Boontuck steps down before his term ends on Dec 31, 2018, after the bank's board in 2016 approved an extension for another two years.
