PwC Thailand names new CEO to drive sustainable growth

Sira Intarakumthornchai aims to bolster PwC’s leading market position over the next four years

BANGKOK, 2 July 2012 – PwC Thailand, part of the world’s biggest network of corporate audit, tax and consulting firms, announced the appointment of Sira Intarakumthornchai as its new Chief Executive Officer, replacing Prasan Chuaphanich, who announced last month that he was retiring after a 37-year career with the firm.

It’s customary for PwC’s partners to elect a new CEO from amongst their ranks every four years. And, Sira, whose appointment took effect on 1 July, will seek to bolster PwC’s position as the top service provider in one of the world’s fastest-growing regions.

‘It’s a real privilege and an honour to lead PwC Thailand,’ said Sira, who became a Partner in 2000. ‘I’m committed to building on our solid foundation to deliver even greater value to our clients, our people and the business community.’

‘I’m confident in our ability to help our clients navigate a turbulent economic environment and prepare them for the coming regional economic integration,’ he added.

Prior to taking the top post, Sira served as Chief Operating Officer of PwC firms covering five strategically important countries in Southeast Asia: Thailand, Malaysia, Vietnam, Cambodia and Laos. He is also Country Leader for PwC Cambodia.

Prasan Chuapanich, outgoing Executive Chairman of PwC Thailand, said Sira’s three years as Country Leader of PwC Vietnam also proved instrumental in boosting that practice.

‘Sira has made an outstanding contribution throughout his career with PwC,’ he said. ‘We’re thrilled to see him leading the next chapter.’

While PwC continues to advise its multinational clients, large companies and state enterprises, Thailand’s new leadership will look for windows of opportunity to improve its local, emerging company client base, Sira said.

‘Many companies in Thailand have strong inherent potential for progress and expansion. What they need to envision is reshaping themselves to compete on the global stage. Whether big or small, they have to be prepared not only for the AEC but far beyond,’ Sira said, referring to the Asean Economic Community which will be launched in 2015. ‘The AEC is merely a triggering point and the end game is for Thai companies to compete on a wider regional, or even a global stage.’

‘Even without the AEC, Thai companies will still need to enhance their competitive edge to sustain their growth. This refers not only to their products but also to their infrastructure, including a tax efficient operating structure, an appropriate IT framework, and an effective finance function. PwC wants to be part of that journey and it’s essential that these companies don’t lose sight of the global picture, as AEC countries won’t necessarily represent the largest market segment for Thai exports,’ he added.

‘I believe in Thailand’s growth prospects. There are a number of Thai companies with the ability to succeed and develop further, and I feel certain that we’ll see their operations expand overseas in the near future. While multinationals and large organisations represent the largest segment of our clientele, and we’ll continue to deliver high-quality services to them, we’ll also be increasing our focus on expanding our client base to include more Thai companies, and helping them to take advantage of our international experience combined with our in-depth understanding of the local environment.’

Additionally, PwC will seek to increase business with clients looking to raise funds in the capital markets, conduct mergers and acquisitions, and engage in cross-border listing activities, for which demand is expected to rise over the next two to three years, driven by the launch of the ASEAN linkage scheme in August this year.

Outside of work, Sira is very active in the community. He is a member of the Faculty of Commerce and Accountancy, Chulalongkorn University Alumni Association, and a member of the Federation of Accounting Professions (FAP) in Thailand. He also serves on the Accounting Standards Review Panel Sub-Committee for the FAP.