Thaifoods Group CEO resigns after insider-trading fine

Core Viewpoint - Thaifoods Group CEO Winai Teawsomboonkij has resigned following a fine for insider trading, effective retroactively from December 26, 2022 [1][2]. Group 1: CEO Resignation and Company Management - Winai Teawsomboonkij has not participated in company operations or decision-making since December 26, 2022 [1]. - COO Phet Nantavisai and CFO Siriluck Tangwiboonpanich are currently managing the company's affairs alongside the board of directors [3]. Group 2: Insider Trading Investigation - The Thai Securities and Exchange Commission (SEC) imposed civil penalties on Teawsomboonkij and five others for insider trading, which involved buying company shares using non-public information [2]. - The SEC's investigation was initiated after a referral from the Stock Exchange of Thailand in November 2016, concluding that insider trading occurred between March and August 2016 [2][3]. - Teawsomboonkij was fined Bt1.12 billion (approximately $35.6 million) for his involvement in the insider trading activities [3]. Group 3: Company Background and Future Plans - Thaifoods Group is a vertically integrated food producer focused on chicken and swine, with operations in Thailand and Vietnam [5]. - The company is in the process of identifying and appointing replacements for the vacant CEO role and remains committed to achieving its strategic objectives [4].