Suphachai Chearavanont

Early career

While in the US after graduating, Suphachai was an intern at a petrochemical factory in Houston Texas. On his return to Thailand he gained work experience at Siam Makro, a company in which CP Group was then a shareholder. He also gained financial experience by working with Soltext Federal Credit Union in the US and Vinylthai, one of Thailand’s leading petrochemical companies. He joined TelecomAsia Corporation, Thailand’s largest telecommunication company, in 1992 and worked his way up from a Senior Officer to senior management where his positions included chief operations and planning officer, executive vice-president for business, and senior vice-president for planning, project coordination and support.

He also served as chief operations officer of UTV Cable Television and founded a number of subsidiaries for the TelecomAsia Group, such as Asia Wireless Communication Company Limited, a PCT (Person Communication Telephone) operator; Asia Infonet Company Limited, which operates internet businesses; Asia Multimedia Company Limited, a broadband operator; and Wire and Wireless Company Limited, a construction and distribution business.

Starting the telecommunications business

The years 1992 to 1996 were a boom era for the Thai telecommunications industry. The government had granted concessions to allow the private sector to invest in fixed-line, mobile and other new telecom services. Many private companies received both domestic and overseas loans to invest in the Thai telecom business. CP Group was one of the few privately owned Thai companies with the potential to operate such a business and it was invited to compete with foreign companies in a bid for concessions, which CP Group won.

Suphachai first worked in the company’s operations room and gradually gained knowledge about the fixed-line business where he worked as the senior officer for the president’s office. He was promoted until he was responsible for managing network rollout, being responsible for the overview of the business and for leading the installation of a network of 2.6 million fixed-line phones. The network was successfully installed within two years.

As with most Thai companies, TelecomAsia was affected by the 1997 Asian financial crisis which saw the Thai Baht collapse from 25 Baht/USD to 55 Baht/USD. The company’s debt almost doubled to around 90 billion Baht and it was unable to repay its obligations within the due date and had to negotiate delayed repayment and enter a restructuring process.

Suphachai explained to creditors that the fixed-line business was still growing and that evolving technology would lead to the development of data services which TelecomAsia would be able to commercially exploit. The creditors approved TelecomAsia’s restructured debt-repayment program.

Once the economy had recovered from the Asian financial crisis, the company developed a diverse range of new marketing activities which helped improve its financial position and revenue base. In 1999 Suphachai was promoted to the position of President and CEO.

Recovery and consolidation

In 2003, Suphachai and then TelecomAsia invested heavily in building up the country's third national wireless carrier, over a decade behind competitors. TA Orange grew rapidly during its first years under heavy and innovative marketing campaign.

Suphachai and TA Orange soon ran into trouble when France Telecom acquired Orange (UK) and France Telecom refused to increase capital and funding into the TA Orange joint venture. TA Orange, thus, was unable to keep up with competitor investments and expand its network fast enough.

In 2005, TelecomAsia finally struck a deal to buyout France Telecom's stake in TA Orange for 1 Thai Baht. Upon the buyback of TA Orange, TelecomAsia transformed itself into "True Corporation". It rebranded under a fresh and modern logo. It consolidated into True Mobile, which evolved from TA Orange, and True Online, which evolved from TelecomAsia's internet broadband business. Suphachai soon also took a controlling stake in UBC, then the country's leading independent pay TV provider, and transformed it into True Visions.

Under Suphachai's leadership, TelecomAsia transformed from a fix line phone provider to Thailand's leading telecommunications conglomerate, being Thailand's largest internet service provider, cable/pay TV provider, and the country's third largest wireless carrier with some 24 million subscribers. Under his leadership, True Corporation grew 1,000% from sales of less than $300 million to over $3 billion within less than 10 years.

In June 2015 Suphachai was presented with the “2015 Frost & Sullivan Asia Pacific Telecom CEO of the Year” award at The Asia Pacific ICT Awards in Singapore for his leadership and outstanding achievements in developing the telecommunications industry within the Asia Pacific region. He was selected as the award recipient by a panel of judges comprising top executives from leading telecommunications companies across the region as well as analysts from Frost & Sullivan. In the same month, Suphachai was elected President of The Telecommunications Association of Thailand under The Royal Patronage.

Work experience

Directorships

Other memberships and positions

Honors and awards

Awards and recognitions received by True Corporation Plc.

Under the leadership of Suphachai Chearavanont since 1999, True Corporation Plc has won many awards and recognitions from various local and international organizations:

2014

2013

2012

2010

2009

2008

Awards summary 2000-2007

Keynote addresses and distinguished lectures

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