CEO of the Year 2024

The ‘Bangkok Post’ is today running the fifth ― and the last ― of its ‘Bangkok Post CEO of the Year 2024′ series with the profiles of three more CEOs who received awards.
We honour Nath Vongphanich, President of Central Restaurants Group, as the CEO of the Year in Restaurant Business Innovation; Jina Osothsilp, Chief Executive Officer of GDH 559 Co, Ltd., as the CEO of the Year in International Film Achievement; and Praonarin Ruangritthidech, Managing Director of Tiptari Company Limited, as the CEO of the Year in Business Revitalization and Transformation.
Praonarin Ruangritthidech of Tiptari Co Ltd  is revitalising the ChaTraMue brand
For a brand that has been passed down by Thais for 75 years, ChaTraMue is determined to revolutionise the local tea industry and make Thai tea accepted by people around the world.
In the 1920s, the founder’s family emigrated to Bangkok from Chaozhou, China. They settled in Chinatown, on Yaowarat Road, and opened a tea shop called Lim Meng Kee, importing red tea from China.
The tea-drinking method used hot water to steep loose leaves.
However, hot tea failed to capture the tastes of Thai consumers in a hot climate.
In 1945, the company began using locally sourced Thai tea leaves and established the Cha Hom factory in Chiang Rai.
It was also around this time that they realised hot tea was not popular among Thai locals due to the tropical climate.
In response, they started creating Thai milk tea and Thai iced tea, using black tea and adding ice to cater to the local market, steering away from traditional Chinese tea.
They also established the ChaTraMue brand.
ChaTraMue is the distributor of products including red tea, green tea, oolong tea and rose tea, which is being used as a raw material for main menus, drinks and desserts.
The company also has freshly made tea shops which not only sell Thai tea, but other drink recipes which are popular among Thais and foreigners.
These include coffee, fruit tea, Thai tea capsules, Thai tea ice cream, Thai tea dipping, cocoa tea mixed with coffee, longan tea, and bakery goods.
ChaTraMue Brand consists of four companies: Cha-Thai International Co Ltd, manufacturer and distributor of ChaTraMue tea; Tiptari Co Ltd, operator of tea shops; Siam F B Products Co Ltd, operator of foreign markets; and ChaTraMue 1945 Co Ltd, operator of online distribution channels.
Praonarin Ruangritthidech, managing director of Tiptari Co Ltd, said the principle that the brand always adheres to is honesty and the production of high-quality products with value for money. The company also strives for continuous product development in response to evolving demands and the popularity of drinking tea.
ChaTraMue has created a strong brand with quality tea products for locals and people around the world.
The company recently rebranded to foster brand awareness through exhibitions, expansion of online delivery channels including GrabFood, Foodpanda, LineMan and Shopee, the introduction of seasonal menus, and a packaging redesign.
Its success in revitalising its brand lies in understanding its target market, shifting from business-to-business to business-to-customer, and integrating the brand into consumers’ daily lives.
“The words ‘Cha Thai’ have been pioneered by the company to reflect the uniqueness and authenticity of Thai tea, which is renowned both locally and internationally. Having our own factory allows us to maintain the quality and freshness of our products, which are neatly produced in every production process, from the selection of raw materials to the storage of finished products,” Ms Praonarin said.
There are 200 branches nationwide, solely owned by the company, to maintain the quality of raw materials and products.
Overseas branches involve selling a licence to a foreign investor, who pays monthly returns to the company.
ChaTraMue operates in over 10 countries with more than 50 branches, including Brunei, Cambodia, Hong Kong, China, Singapore, the Philippines, Myanmar, Malaysia, South Korea, Vietnam, and the US, with further expansion to other countries in the future.
In terms of its visionary journey, ChaTraMue wants to be a global brand in the next 5-10 years with sustainable growth and consistent innovation, reflecting Thais’ pride in Thai tea.
Ms Praonarin believes the business will continue to grow and will not be affected by the economic slowdown. Its products are in the food and beverage category, which is considered a daily necessity.
As investment is not very high, the tea sector faces the formidable challenge of producing an affordable, high-quality, and more sustainable product in a highly competitive market.
Over the past couple of years, Thai tea has gained increasing popularity among foreign tourists, leading to the emergence of new brands. This helps sustain livelihoods and generate income for the local farmers, which fosters sustainability for the Thai tea industry.
Praonarin RuangritthidechManaging Director of Tiptari Company Limited
Nath Vongphanich, president of CRG, aims to promote sustainable growth in tandem with organisational success
The global restaurant industry continues to evolve in response to market changes and emerging opportunities, including technological advances, customer needs, competitive threats, revenue opportunities and workforce demands.
These changes require business agility and strategic execution to help organisations adapt to the changing environment.
Thailand’s restaurant industry looks promising as the company’s performance has shown positive signs, with the quick-service restaurant business still growing, such as KFC, said Nath Vongphanich, president of Central Restaurants Group (CRG).
However, CRG is closely monitoring the impact of the country’s high level of household debt and rising costs, notably logistics costs, which may pose a challenge to the industry.
Moreover, the organisation will also keep an eye on escalating geopolitical tensions, the economic uncertainties of important trading partners such as the US and the EU, as well as the staff shortage in the restaurant industry.
“To tackle those headwinds, CRG has continuously adjusted its working processes, aiming to simplify its workflow and increase productivity,” said Mr Nath.
As the restaurant business is evolving rapidly, the operator and staff must be adaptable to the changing needs of customers and the market to provide them with the best meal and high-quality service.
The company is embracing technology solutions to help with taking orders, such as at the table side, QR code and via a kiosk, as well as processing contactless payments.
In terms of operation, the company has streamlined its order management system by integrating orders from multiple channels (such as orders from the online food ordering system, in-house orders and third-party delivery apps) into a single, easy-to-use dashboard, reducing the need to monitor multiple tablets and devices, which improves workflow and minimises errors.
These efforts, combined with kitchen workflow redesign, help CRG to better manage its human resources, enhance customer experience and increase productivity, he said.
Mr Nath said CRG is committed to fostering an organisational culture that values diversity, inclusivity and equality and prioritises the well-being and development of employees.
The company’s goal is to promote sustainable growth in tandem with organisational success.
Since 2007, the company has been empowering people with disabilities through various projects that support their education, employment, and quality of life.
After almost two decades of hiring disabled employees, there is concrete evidence that if disabled individuals find suitable, interesting and feasible jobs, it directly influences their dedication to enhancing their capabilities and advancing to higher job positions.
Furthermore, the company has been sponsoring employees and their children with academic scholarships at the elementary, high school, vocational and tertiary levels in order to help them reach their full potential.
Moreover, the company also provides upskilling and reskilling for its employees to ensure they keep up with the rapidly changing business landscape with new skills and competencies.
CRG’s dedicated efforts have played a pivotal role in attracting and retaining top talent, resulting in heightened productivity and increased profitability for the organisation.
He recalled the unprecedented challenges faced by the company during the pandemic when dining out sharply plummeted as some restaurants were forced to shutter as the department stores where they were located closed to comply with lockdown measures.
However, the company has done its best to cope with the circumstances by channelling its sales through online delivery platforms to control costs and secure service continuity.
“We are doing our best to stand behind our employees. Rather than implement any layoffs, we adjust the work schedule by reducing hours to protect jobs,” said Mr Nath.
He said the pandemic provided vital lessons for the firm regarding cost management and career development opportunities for its staff.
The company operates 1,400 restaurants and plans to open around 100 new restaurants annually, said Mr Nath.
Furthermore, the company is also seeking new business partners for joint ventures, aiming to add 1-2 brands under the CRG ecosystem.
He said the company is looking for passionate restaurant owners striving for sustainable growth, as the business has high growth potential.
“By growing together, CRG would like to play a key part in driving Thailand’s restaurant industry forward and promoting the charm of Thai cuisine globally,” said Mr Nath.
Nath VongphanichPresident of Central Restaurants Group
Jina Osothsilp, chief executive of GDH 559, is passionate about producing quality films that meet international standards
Over the past three years, Thailand’s film industry has gained momentum following the pandemic restrictions. People are spending more time outside and returning to cinemas.
This year, the Thai blockbuster family drama Lahn Mah left millions of filmgoers across Southeast Asia in tears.
Known in English as How to Make Millions Before Grandma Dies, it was selected as Thailand’s entry at the 97th Academy Awards.
Since it premiered six months ago, the movie has raked in almost 2 billion baht worldwide.
It was the highest-grossing Thai film of 2024, with 184 million baht in combined receipts in Bangkok and Chiang Mai alone as of early October.
The National Federation of Thai Film Associations has selected it to represent Thailand as its submission for the best international feature film category at the 97th Academy Awards.
Not only is the selection the latest achievement for the blockbuster, but it also represents the culmination of the work of GDH studio head Jina Osothsilp and her team, powered by the backing of its studio.
Ms Jina, chief executive of GDH 559, whose name stands for gross domestic happiness, said GDH has been pushing Thai films to screens abroad since its inception in 2016, especially in Southeast Asian countries such as Singapore and Malaysia as well as other Asian markets such Taiwan, Hong Kong and South Korea, to great acclaim.
The films shown abroad were mostly horrors and thrillers, genres seen as having universal appeal.
But the company has recently been trying to push out comedies and local thrillers such as How to Make Millions Before Grandma Dies, a film which explores concepts such as filial piety and patriarchy through a story about love and relationships across different generations in a family, as another step to raising the popularity of Thai films.
“Our company was founded on the principle of producing quality films that meet international standards, elevating the Thai film industry for future generations,” said the GDH executive. She reminisced about her early days at an advertising company, where she and her team pushed creative boundaries to deliver impactful commercials.
These principles remain unchanged at GDH, where the team strives to think outside the box, creating entertaining films that balance commerce and art.
“The company does not solely target mass-market films for guaranteed box office success; we also embrace diverse ideas,” said Ms Jina.
Moreover, films do not have a perfect formula to guarantee success; thus, the team must be scrupulous regarding every detail and meticulous about every production step. Everyone from scriptwriters, lighting crew and camera operators to actors, producers and directors must work together in unison, she added.
“When the film is released, regardless of the audience feedback, we believe we’ve given it all,” Ms Jina said.
“If audiences are inspired by the film’s message and apply it to their lives, which change themselves, those around them and society in a positive and meaningful way, that is the true success of filmmaking,” she added.
Ms Jina has always believed that behind every success is a great team, whether it’s the talented actors or the skilled crew members behind the scenes.
“Everyone is part of an amazing team, and we believe that the success of this film will encourage filmmakers to create fresh, new content, elevating the standards of the film industry,” she said.
“We feel that family films about love and gratitude are truly universal. Initially, there was some concern that a movie like this might not make a lot of money. But we wanted to create a good film, and we believe that good films should enlighten the audience. When we, as a board, read the script, we all admired it and believed it was an excellent script. We felt that if we didn’t make this movie, we’d regret it deeply,” Ms Jina said.
“A tearjerker might not guarantee success at the box office, but we believed in the quality of the script and the team’s passion to make it happen,” she added.
Such instincts proved right and the movie received positive feedback and an overwhelmingly warm welcome from audiences across the country and abroad. On the promotional tour in Vietnam, many young people left the cinema in tears and ran up to hug Grandma Taew, the 78-year-old actress who played the film’s titular matriarch, remarking how the movie reminded them of their grandma and thanking the company for making a great film.
She said the company has been passing on opportunities for new directors who have experience in making TV series and commercials to join the team under the supervision of the producers, bringing diverse ideas to the screen.
In August, the company released the romantic drama The Paradise of Thorns, the first feature film directed by Naruebet Kuno, known for the famous TV series I Told Sunset About You in 2022.
The film tells the story of Thongkam and Sek, a gay couple who own a home and durian orchard in Mae Hong Son.
Sek dies unexpectedly, and the property is inherited by Sek’s mother, leaving Thongkam without legal rights to their shared property.
The fight for his rights is a reflection of the challenges faced by same-sex couples in Thai society. The film has been selected for screening at the 49th Toronto International Film Festival.
Ms Jina said the success of Bad Genius (2017) in China offers solid proof that Thai filmmakers are capable of generating excitement in the international market.
Jina OsothsilpChief Executive Officer of GDH 559 Co, Ltd.