Central Pattana Plc (CPN), the SET-listed property and retail development arm of the Central Group of Companies, expects its revenue this year to grow by 8-9%,lower than the double-digit rate last year because its Lat Phrao branch will be closed for six months for renovation. As well, the company will open no new retail outlets this year, said Nattakit Tangpoonsinthana, executive vice president for marketing.

Central Group of Companies, a leading retailer and hotelier, has restructured its organisation by putting a younger generation in charge of business management, says chairman Wanchai Chirathivat. The move was made in anticipation of future expansion of its retail, hotel and food services businesses, he said. Mr Wanchai said the restructuring would also improve efficiency. Under the new structure, it has set up two new boards, a supervisory board (SB) and CEO management board (CMB). The SB is responsible for ensuring that the CMB carries out its management functions effectively, in compliance with the intention of the Central Group’s board. Suthichai Chirathivat is the SB chairman, Suthikiati Chirathivat is the vice-chairman, and Suthichart Chirathivat and Sudhisak Chirathivat are directors.