WASHINGTON — Thai satellite operator Thaicom on March 29 appointed Anant Kaewruamvongs to succeed Paiboon Panuwattanawong as chief executive May 1.
Kaewruamvongs joins Thaicom from CS Loxinfo, a Thai IT solutions provider he led as CEO since 2013.
Panuwattanawong worked at Thaicom for more than 25 years, and served as CEO since 2015. Thaicom said he is retiring for a “personal reason.”
Prasert Bunsumpun, chairman of Thaicom’s board of directors, praised Panuwattanawong’s work as “immeasurable.”
“We would like to thank Mr. Paiboon for taking on the challenge as CEO and for steering the company to new horizons. He and his leadership team have successfully embarked on a difficult restructuring process of our business and organization during difficult times for the satellite industry and Thaicom. We wish Mr. Paiboon all the best in his future endeavors.”
Thaicom’s revenues dropped $60 million last year as lower broadcast service sales slumped and customers grew concerned over Thai regulatory barriers to new satellites. The company says it is pursuing more diversified revenue streams to generate new income. Last month the company introduced a maritime broadband service called Nava aimed at connecting ships and offshore platforms to the internet.