Dhanin Resigns as Chairman of CP’s Food Subsidiary

Dhanin Chearavanont
Dhanin Chearavanont

BANGKOK — Thailand’s richest man has stepped down as chairman of Charoen Pokphand Foods, the company announced Wednesday.

In a written statement, the company said Dhanin’s resignation from the board is effective today, citing “increasing responsibilities” that prevented him from being fully committed to the subsidiary. It did not elaborate further.

The statement said it’s in the middle of the selection process for his replacement. Dhanin remains the senior chairman of CP Group, one of the world’s largest agriculture and food conglomerates.

The 80-year-old Dhanin was named by Forbes as the world’s 75th richest man earlier this year, with an estimated wealth of US$15.2 billion or about 480 billion baht. The Chearavanont family was named the richest of Thailand last year with collective assets worth more than 900 billion baht.

In 2017, Dhanin stepped down from both the positions of chairman and CEO of CP Group, replaced by his sons Soopakij Chearavanont and Suphachai Chearavanont, respectively.