As the share price of Dusit Thani Public Company Limited (SET: DUSIT) sharply surged by 21.09% at the end of the trading session on Monday, following optimism toward Friday’s announcement regarding a change in the company’s leadership, questions remain about the main objective or the importance of the Extraordinary General Meeting (EGM) scheduled for September 26, 2025.
Suphajee Suthumpun, who has served as Group CEO and Board Director, is stepping down to become Thailand’s Minister of Commerce. In her place, Chanin Donavanik has been named as the new Group CEO.
Dusit Thani is a cornerstone of Thailand’s hospitality sector, and leadership changes in such a company send ripples through both the business and investment communities. The strong rally in the company’s shares suggests that investors are welcoming this move, especially after a period marked by well-publicized internal family disputes and leadership uncertainty.
In addressing the transition, Mr. Chanin was quick to assert that outstanding internal issues are on the path to being resolved amicably. He used the opportunity to both congratulate Suphajee on her ministerial appointment and extend an open invitation for her return to Dusit Thani should her government role conclude. The tone aimed to set a narrative of continuity and unity after turbulence in the company’s upper ranks.
Yet, for all the positive signals, a key question remains on whether the EGM scheduled for 26 September 2025 still holds significance.
Previously, it has been reported that the primary agenda for this meeting was to consider removing Chanin from his leadership roles. Now, with Chanin’s formal promotion as the Group CEO and the public assurances of reconciliation, the meeting’s original purpose seems out of sync with the current leadership narrative.
Perhaps the decision to proceed with the EGM is a move to underscore corporate transparency and proper governance, demonstrating respect for procedural norms and shareholder voices. Meanwhile, if the root causes of internal conflict truly have been addressed, adjustments or withdrawals of some agendas could be made public. Retaining the original agenda risks sending mixed signals about the depth and durability of the recent reconciliation.
Until clarity emerges from the upcoming EGM, questions surrounding boardroom dynamics and true reconciliation could continue to shadow the optimism. The decisions made at this pivotal meeting may well define the company’s trajectory for years to come. Still, another 3% gain of DUSIT’s share in the morning session on Tuesday could be implied that the market has looked over this matter.
