Eastern Water Appoints 5 Directors After Chairman ResignsSupunnabul Suwannakij
Eastern Water Resources Development and Management Pcl, Thailand’s largest non-state water provider, appointed five directors effective today after the chairman of the board resigned.
Sita Divari resigned Nov. 28 and four other directors left the company at the end of last month, the Bangkok-based utility said in a stock exchange filing without providing an explanation. A call to the office of the chief executive officer after regular business hours wasn’t answered. Eastern Water has 14 directors including the chairman, according to its website.
Eastern Water, 40 percent owned by the state-run Provincial Waterworks Authority, reported an 8.7 percent decline in third-quarter earnings last month on net income of 315 million baht. The shares have retreated 12 percent this year compared with a 23 percent gain in the SET Index.