Inside Thailand’s Chang beer dynasty, daughters got seats at the table too
Thapanee Techajareonvikul took the reins as CEO and President of Berli Jucker PCL in 2023, becoming the first female CEO of the famous retail and packaging company.
According to Thapanee Techajareonvikul, the belief that women belonged in senior leadership roles was never uncommon.
Her late mother, Wanna Sirivadhanabhakdi, was instrumental in growing TCC Group, which includes Chang beer and Singapore-listed conglomerates, into a multibillion-dollar empire in beverages, real estate, retail and manufacturing. Fraser and Neave.
His father, Charoen Sirivadhanabhakdi, ensured that his two sons and three daughters had equal opportunities in the family business. Today, each brother rules a different part of the empire.
Thapanee, the couple’s fourth child and youngest daughter, took the reins as CEO and President of Berli Jucker PCL in 2023, becoming the first female CEO of the famous retail and packaging company.
The company’s portfolio includes Big C, Thailand’s second largest hypermarket chain, operating in Vietnam, Cambodia, Laos and Hong Kong.
“I didn’t feel any tension when I became a female leader,” she said during a special taping of CNBC Meets: Legacies held at a UOB private banking event in Singapore.
“I always saw my mother there at the long table with my father,” the MIT and Harvard Business School graduate told CNBC’s Tania Bryer.
Lessons learned from his parents
Thapanee and his siblings grew up observing their parents at work and often accompanied them to business meetings. Watching how they reach decisions and navigate relationships has become what he describes as “the greatest teaching” a person can receive.
Both parents emphasized hard work and humility as the keys to unlocking opportunities. They were also meticulous to ensure that each initiative benefited all stakeholders.
“My father was always looking at partnerships; he wanted a win-win situation for everyone involved,” she said.
His mother played a stabilizing role, providing a vital counterweight to his father’s risk-taking, as his father rarely acted without his wife’s approval.
From left to right: Thapanee Techajareonvikul, Wanna Sirivadhanabhakdi, Charoen Sirivadhanabhakdi and Aswin Techajareonvikul. Thapanee and his siblings grew up observing their parents at work and often accompanied them to business meetings.
Although TCC is a sprawling conglomerate, Thapanee said the group’s expansion through mergers and acquisitions has been due to strategic alignment over a long period of time.
He noted that the group’s acquisition of Berli Jucker in 2001 was mainly due to glass bottle production, which complemented its beer and spirits business.
The group’s liquor assets have since been consolidated under its Singapore listing. Thai Beverages PCLIt is headed by his elder brother Thapana, who also heads the second generation of the Sirivadhanabhakdi family.
The extensive property portfolio is divided into several units. Second sister Wallapa Traisorat leads Asset World Corp PLC His younger brother Panote Sirivadhanabhakdi is in Thailand. rudders listed in singapore Frasers Feature.
Atinant Bijananda, the eldest sibling, serves as vice chairman of the board of directors. Thailand Group HoldingsIt is an investment holding company affiliated with the TCC group.
Thapanee Techajareonvikul and his four siblings. His father, Charoen Sirivadhanabhakdi, ensured that his two sons and three daughters had equal opportunities in the family business. Today, each brother rules a different part of the empire.
Forbes estimates Sirivadhanabhakdi family’s wealth $10.5 billionThailand’s latest rich list ranks them fourth.
According to Thapanee, her parents remain the ultimate role models for spouses working in family businesses.
“My parents would tell guests and friends that they had never been apart, day or night, for 51 years straight,” he said. “So they are true partners in life and business.”
management style
When asked about his management approach, Thapanee said he was impressed by his parents’ emphasis on fostering listening, respect and a sense of belonging among employees.
“I want to make the family business very professional, but the professional organization also needs to feel connected to the family,” he said of Berli Jucker, which employs about 61,000 people. In particular, women make up approximately 60% of employees and approximately half of senior management.
She works closely with her husband, Aswin Techajareonvikul, former chairman of Berli Jucker. He currently leads Big C, which is preparing to go public, and serves as vice chairman of Berli Jucker’s board of directors.
Thapanee Techajareonvikul (left) with her husband Aswin Techajareonvikul (right), former chairman of Berli Jucker. Aswin currently leads Big C as it prepares for an IPO, and serves as vice chairman of Berli Jucker’s board of directors.
The company’s near-term priorities include integrating and expanding Vietnamese consumer products wholesale distributor MM Mega Market, which was recently acquired from TCC for approximately $720 million, and expanding its use of artificial intelligence.
Thapanee said artificial intelligence is already being used at the group’s production facilities to optimize delivery schedules and reduce energy consumption.
next generation
Thapanee and her siblings meet regularly for family reunions despite their busy schedules running their own businesses.
In the past, meetings were mostly social, but that changed last year when the father transferred shares in the holding company of the TCC group to his five children. The brothers now meet regularly to discuss issues related to the holding.
While he and his siblings are expected to join the family business, Thapanee, who worked at Merrill Lynch in Singapore before joining the group, said future generations will be given more freedom to chart their own path.
Thapanee Techajareonvikul with her husband Aswin Techajareonvikul, former president of Berli Jucker. Aswin currently leads Big C as it prepares for an IPO, and serves as vice chairman of Berli Jucker’s board of directors.
One of her three children was also in the audience during the interview as Thapanee talked about the family’s future.
“We will involve them (in the work) along the way, and they can choose what best suits their expertise or preferences going forward,” he said.
Some members of the third generation are already identifying their interests. A nephew who was in graduate school expressed interest in the family’s real estate business.
As more family members become involved in the business, Thapanee said the family’s shared values and sense of unity will help preserve the TCC Group for future generations.
