The application period for the next chief at the Bank of Thailand is set to open later this month to appoint a successor to Veerathai Santiprabhob, whose tenure is due to end in September.
The process requires the Fiscal Policy Office (FPO) to form a selection committee for the new central bank head chaired by former permanent secretary for finance Rangsan Sriworasart. The group drafts the selection criteria and application process, said a source at the Finance Ministry.
The drafting process must be completed this month to pave the way to accept applications later in May.
The seven-member selection committee plans to issue an announcement to open the application for the 24th governor of the central bank, the source said.
Other members of the selection committee are ex-industry minister Atchaka Sibunruang, chairman of the Stock Exchange of Thailand and former central bank governor Chaiyawat Wibulswadi, former director-general of FPO Naris Chaiyasoot, Securities and Exchange Commission chairman Voravidh Champeetatana, ex-permanent secretary at the Commerce Ministry Nuntawan Sakuntanaga and former secretary-general of the Office of Insurance Commission Chantra Purnariksha.
According to the selection process, the committee must name two shortlisted candidates and propose them to Finance Minister Uttama Savanayana, who will pick the next governor before forwarding his selection to the cabinet for approval.
The tenure for central bank governor lasts five years.
The nomination process requires a new governor be appointed at least 90 days ahead of the end of the incumbent's term.
Applicants for the position must not be older than 60 on the application date.
