ThaiBev’s Thapana Honoured as 2024 CEO of the Year
Annual award conferred by Krungthepturakij and University of the Thai Chamber of Commerce recognises outstanding leadership and strategic vision
Thapana Sirivadhanabhakdi, CEO of Thai Beverage Plc, has been named CEO of the Year 2024.
The award, presented annually by Krungthepturakij in partnership with the University of the Thai Chamber of Commerce, recognises outstanding leadership and strategic vision in the business world.
The annual awards ceremony honoured exceptional corporate leadership across four categories: CEO of the Year, Sustainable CEO, Innovative CEO, and Young CEO.
According to the award citation, Thapana's leadership has been instrumental in transforming Thai Beverage from a family business to a publicly traded company with a remarkable market presence as a regional powerhouse. The organisation has achieved exceptional growth, achieving revenue of 280 billion baht and net profit of over 30 billion baht, as of October 2023, it added.
Under his guidance, the company has experienced significant growth, expanding its market reach across Southeast Asia and achieving a market capitalisation of over 100 billion baht.
Key factors contributing to this success include the company's strategic acquisitions, innovative business models, and strong focus on sustainability. Thapana's ability to navigate complex business environments and drive innovation has been crucial in positioning Thai Beverage as a leading player in the industry, the citation said.
It added that ThaiBev’s strategic moves in 2024 are particularly noteworthy. Thapana has restructured corporate leadership by promoting executives to oversee domestic and international markets, implemented a complex share exchange between real estate and beverage businesses, and strengthened the non-alcoholic beverage sector by converting Fraser & Neave from an associate to a subsidiary.
A six-year strategy dubbed "Sustainable Growth to PASSION 2030" focuses on two primary approaches: "REACH Competitively" and "DIGITAL for Growth". These initiatives have positioned ThaiBev among the top 10 beverage companies in Asia, competing with giants from Japan, China, and the Philippines.
In addition to his business acumen, the award also recognised Thapana for his commitment to corporate social responsibility. The company's Sustainability Expo 2024, a major platform for promoting sustainable practices in ASEAN, showcases Thai Beverage's dedication to environmental and social well-being.
Now in its fifth year, the event has become a crucial platform for sustainability in Southeast Asia, bringing together 270 corporations and 600 global experts to drive environmental innovation.
The company has also demonstrated its commitment to regional development through an 8-billion-baht investment in dairy farms in Malaysia, reflecting a strategic approach to food security and regional economic growth, the citation said.
By investing in sustainable initiatives, such as dairy farming in Malaysia, ThaiBev is not only contributing to food security but also demonstrating its commitment to long-term growth and responsible business practices.
Receiving the award, Thapana emphasised his vision, stating: "It is a great pride and encouragement to be committed to work and management for all employees of the ThaiBev Group. We will jointly create and share the value of growth, which is our fundamental mission."
Awardees are selected according to multiple criteria under two headings:
The leadership assessment constitutes 50% of the total score and covers leadership (20%), strategy formulation (15%) and strategy implementation (15%). Specific criteria for CEO of the year include corporate governance (20%), management and personnel relations (10%), external relations management (10%) and product and service knowledge (10%).
