Bangkok Airways Replaces CEO Fined for Securities Fraud | Aviation International News

Bangkok Airways Replaces CEO Fined for Securities Fraud

The Thai regional airline names the son of former chief executive to run the company.

Bangkok Airways flies 16 Airbus A319s alongside other Airbus and ATR types. (Photo: Wikimedia Commons)

By Jennifer Meszaros • Contributor - Asia

January 25, 2019

Thai regional airline Bangkok Airways has formally appointed Puttipong Prasarttong-Osoth, the carrier’s long-standing president, to serve as new CEO and vice chairman, effective January 24, the company announced on Thursday. Puttipong replaces his father, 85-year-old Thai business tycoon Prasert Prasarttong-Osoth, who resigned on January 21 after Thailand’s Securities and Exchange Commission (SEC) fined him and two other people for manipulation of the airline’s share price. According to the SEC and the Stock Exchange of Thailand, Prasert, his daughter, Poramaporn Prasarttong-Osoth, and his executive secretary, Narumon Chainaknan, traded Bangkok Airways’ shares continuously from November 13, 2015, to January 12, 2016, matching the trading orders among themselves while concealing their activities and thereby misleading the public regarding the share price and trading volume of the airline.

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