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Thai Bank Chief Resigns ahead of Schedule.
Byline: Darana Chudasri
Nov. 1--Thai Military Bank president Somchai Sakulsurarat has announced his resignation from the bank, effective immediately.
Sources said that Mr Somchai decided to resign over a conflict with board directors over lines of authority in approving bank decisions involving financial issues including debt reductions in restructuring cases or asset sales.
Mr Somchai played down any disagreements with the board. He said he had decided to step down after the bank recently appointed a search committee to find his successor ahead of the scheduled expiry of his term in June 2003.
"I felt that once the board established ...
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