The Thai Union Group topped the awards among firms listed on the Stock Exchange of Thailand in the 7th Annual Investment Analysis Association (IAA) Poll for Best CEO and Best CFO. The Bangkok-headquartered company, which last year rang up record sales of THB 125.2 billion and realized net profit of THB 6.1 billion, produces and markets a wide variety of foodstuffs ranging from frozen shrimp and ready meals to canned tuna, sardines and other fishery products.
This is the seventh time that Thai Union CEO Thiraphong Chansiri has been designated Best CEO in the Agro & Food Industry category. Joining him as a winner this year was Thai Union’s Joerg Ayrle, who was voted Best CFO.
The IAA competition evaluated Thai executives of publically traded companies who have been instrumental in driving success and sustainable growth while creating added value for shareholders. Along with leadership skills, also taken into account was management vision communicated through investors’ journals.
Thiraphong Chansiri (far right), president and chief executive officer of the Thai Union Group, is congratulated for being named Best CEO by Rapee Sucharitakul (center), director and secretary general of Thailand’s Securities and Exchange Commission, and Paiboon Nalinthrangkurn, president of the Investment Analysts Association.
Commenting on the poll results, Thiraphong said: “I would like to thank the investors for the vote of confidence and trust for our work. I believe that passion for growth and a willingness to challenge and stretch boundaries have led the organization to today.”
“It is a great honor to be chosen for this prestigious award. Working with a great finance team alongside an inspiring and visionary chief executive officer is the most satisfying professional experience,” remarked Ayrle. “This award is a recognition of their support and guidance over the last year.”
Ever on the Acquisition Trail
Meanwhile, a recent report in Deal Street Asia speculates that Thai Union is keen on buying Ecuadorian shrimp processor Negocios Industriales Real (Nirsa).
This company, which withdrew a $1.5 billion acquisition proposal for Bumble Bee Seafoods last year after US officials said the deal would be harmful to competition in the canned tuna market, is looking far and wide for investment opportunities. In 2015 it obtained a 51% stake in Germany’s Rügen Fisch AG, and earlier this year it bought a 40% share of Avanti Frozen Foods in India and acquired the assets of Les Pecheries de Chez Nous, a lobster processor in Canada. It is also said to be actively evaluating prospects for joint ventures in Indonesia and Bangladesh, as well as looking for merger and acquisition opportunities there.
An investment in Ecuador would mark a first for Thai Union, which has yet to establish operations in South America, according to Deal Street Asia. It went on to quote an anonymous source as follows: “If it is able to wrap up this deal, it will be a significant expansion as Nirsa is one of the largest tuna and shrimp processors in Ecuador and South America.”
Nirsa, which owns 11 tuna fishing vessels and five sardine boats, markets a range of products under the Real brand. It also has its own port operation, situated just 400 meters from the processing facility.
