Big names added to Central’s top team
Ambitious retail growth plans in sight
Central Group, the country’s largest retail conglomerate, has announced changes in management to forward its expansions in Thailand and abroad.
Chief executive Tos Chirathivat said it is crucial to add outstanding professionals to its top management to support future growth locally and internationally.
Central Group continues to grow at a rapid pace, with sales expected to rise more than 20% this year to 336 billion baht, from 280 billion baht last year. It set aside a 39-billion-baht investment budget to further expand its retail empire.
It sees vast investment opportunities in neighbouring countries including Vietnam, Cambodia, Laos, and Myanmar, which are members of Asean Economic Community, Mr Tos said. Central recently acquired Big C Vietnam from Casino Group.
Apart from Asean, the group has a strong retail presence in Europe, operating businesses in Germany via the KaDeWe Group, as well as La Rinascente in Italy and Illum in Denmark.
With internet access, retail market barriers are significantly reduced, and Central has plans to ride the digital trend with e-commerce, cross-media and marketplace strategies to provide seamless customer experience, he said.
Its online subsidiary COL Plc has bought Zalora (Thailand) Ltd, a leading fashion-focused e-commerce website, to strengthen the group’s online shopping network.
“We’re proud of our steady growth in the past seven decades. It’s our top priority to develop a strong team to create a fundamental backbone of our future success,” Mr Tos said.
The group yesterday announced the appointment of Yol Phokasub as president of Central Group, effective from Oct 1.
Prior to joining Central, Mr Yol was president of Siam Commercial Bank, which he led to become a leader in retail banking using his extensive experience in retail consumer products and marketing at Unilever Thailand and Dutch Mill Group.
In addition, the group has appointed Nicolo Galante, former managing partner of McKinsey & Co, to serve as chief operating officer.
Chanitr Charnchainarong, former executive vice-president of the Stock Exchange of Thailand and former president of Market for Alternative Investment, has been named senior executive vicepresident for corporate development.
Stewart Stemple, previously global director of talent and development for The Coca-Cola Co, together with Wimolmart Kuekomoldej, former chief financial officer of Central Hardlines Group and head of human resources at Central Retail Corporation, are now co-heads of corporate human resources.
Prasarn Trairatvorakul, former governor of Bank of Thailand, joined as senior adviser for Central Group in July.