Mermaid Maritime Public Company Limited advises that its Board of Directors have resolved to form an Executive Committee (“Excom”) comprising four members of the Board, namely, Mr. Prasert Bunsumpun, Mr. Chalermchai Mahagitsiri, M.L. Chandchutha Chandratat and Mr. Joseph Chia.

Mr. Prasert Bunsumpun, who is Chairman of the Board of Mermaid, will act as Chairman of the Excom. Mr. Chalermchai Mahagitsiri is Mermaid’s Executive Vice Chairman. M.L. Chandchutha Chandratat is President and CEO of Thoresen Thai Agencies Public Company Limited, Mermaid’s controlling shareholder, and also an Executive Director of Mermaid. Mr. Joseph Chia is a Non-Executive Director of Mermaid.

The Excom has been constituted to allow Board members to perform a more active role in the governance and management of the Mermaid group. It is a standing committee that will work with the CEO and his team, and has also been vested with the power to act on behalf of the Board to make certain decisions delegated by the Board.

Subsea World News Staff , July 03, 2012; Image: Mermaid Maritime