SCB Appoints Kris Chantanotoke as CEO to Strengthen and Create Sustainable Growth

Siam Commercial Bank Public Company Limited (SET: SCB) announced the appointment of Mr. Kris Chantanotoke as its new Chief Executive Officer, effective August 1, 2022.

Dr. Vichit Suraphongchai, Chairman of the Board of Directors of Siam Commercial Bank is delighted to announce that, “Following the announcement of the Bank’s major transformation, which was approved by shareholders at the end of 2021, SCB’s Board of Directors considered reorganizing senior management to align with the new business structure and to ensure management continuity in accordance with good corporate governance principles. To enable the SCB Financial Group’s management to accomplish the objectives outlined in the mothership strategic plan, including the planned transformation into a regional financial technology group, the Board of Directors meeting on January 21, 2022 resolved to appoint Mr. Kris Chantanotoke as its new Chief Executive Officer. The appointment has already been endorsed by the Bank of Thailand and will be effective on August 1, 2022.”

“Mr. Kris is a very qualified and experienced individual with vast expertise in the banking and finance industry, wealth management, and insurance business. Prior to joining SCB, he was the Chief Executive Officer of AIA Thailand Co., Ltd. He is widely regarded as a visionary leader of the new generation who has effectively embraced technology to transform businesses. He will offer his expertise and in-depth understanding of the business to lead SCB in executing its strategy, ‘To Be A Better Bank’ that is stronger and more capable of generating sustainable growth in the future.” added Dr. Vichit. 

“Under this new management structure, Mr. Arthid Nanthawithaya will resign as Chief Executive Officer of SCB on July 31, 2022 but will continue to serve as Chief Executive Officer of SCBX Public Company Limited. The three current SCB Presidents, Mr. Sarut Ruttanaporn, Mrs. Apiphan Charoenanusorn, and Dr. Arak Sutivong, will also step down from their positions on July 31, 2022. Currently, they serve as the CEOs of SCB Financial Group companies Card X Co., Ltd., Auto X Co., Ltd., and SCB Securities Co., Ltd., respectively.”

 “This change in senior management has been carried out to ensure that the SCB Group remains focused on its purpose of generating significant corporate value through new businesses. It will enable the organization to expand its customer base to 200 million, while also expanding new businesses in foreign countries and owning a huge technology platform with a large number of users. The initiative intends to transform the firm into a regional financial technology group capable of meeting new consumer needs and able to compete effectively with global players.” concluded Dr. Vichit.