“We see a business opportunity to develop mobile banking and digital platform in Laos when 98 per cent of people use mobile phones. Currently, some 91 per cent still use cash for all transactions. This is a challenge for us to expand our mobile banking and digital platform in this country,” he said.

Currently, Banque Pour Le Commerce Exterieur Lao Public (BCEL) is the only bank in Laos offering the digital platform. The BCEL One mobile app allows customers to transfer funds between accounts, pay utility and phone bills, pay taxes, and more, right from their own mobile phones.

“I use BCEL One Mobile app to transfer money for goods bought at the market as it is easier and it also helps pay all bills. If KBank provides the same service that will easy for me to use,” Phornprasert Suwandara, one of customers visiting a KBank branch in Vientiane, told The Nation recently.

Pattanapong added that the bank is studying the prospects for providing the mobile application and digital platform including QR Code payment in Laos. The company has applied for a licence.

“The Lao government also has the goal of making the country a cashless society. So, this is the right time for the bank to apply and provide the mobile application and digital platform,” he said.

KBank registered in Laos as a locally incorporated institution in 2014 with a registered capital of Bt1.2 billion. It opened its first branch at Pone Si Nuan in 2014 and also its headquarters at Lane Xang Avenue, Vientiane in 2017. The company plans to increase its registered capital to Bt2 billion when the Laos government implements its new bank and finance act, which may be passed at the end of this year or the next year.

“When the new act comes into effect, all banking and finance institutions in Laos will have to have a minimum registered capital of Bt2 billion within five years of the act coming into effect. We will increase our capital following the act,” Pattanapong said.

Since establishing its business in Laos, the company has enjoyed double-digit growth in revenue and net profit due to the country’s strong economic growth.

In 2018, the targets for loans, deposits and trade finance transactions are Bt2.4 billion, Bt1.6 billion and Bt13 billion, respectively. As a result of efficient risk control and management, there is no non-performing loan. The company is targeting total revenue of Bt100 million and net profit of Bt10 million at the end of this year, up 10 per cent year on year.

Meanwhile, the company also aims to bolster loans to Bt3 billion, deposits to Bt2 billion and trade finance transactions to Bt18 billion in 2019. It expects double-digit growth in total revenue and net profit, he said.

KBank’s lending structure in Laos consists of diverse customer groups, namely the government sector (33 per cent), agriculture (19 per cent), construction (15 per cent), commerce (10 per cent), transport (10 per cent), hire-purchase (8 per cent) and food and beverage (6 per cent), respectively. Lending portions to local, government and Thai business sectors stand at 38 per cent, 33 per cent and 29 per cent, respectively.

“Our business expansion in Laos will follow three strategies: opening branches or offices in the form of locally incorporate institutions (LII); foreign bank branches (FBB); and representative offices,” he said.

Currently, the bank has established LIIs in Laos and China, a branch in Cambodia and representative offices in Indonesia, Myanmar, Vietnam and Japan, as well as a strategic partnership with Bank Maspion. The other two strategies are the expansion of the digital platform, focusing on providing services via digital channels, and the establishment of strategic partnerships with local financial institutions.

Laos is one of the most important targets to enhance a service linkage under KBank’s strategy to create a service network in this region, Pattanapong said.

KFC expects to by year-end achieve double digit sales growth and to reach a historical record-high of 75 new stores, 39 per cent above the original target of 54 new restaurants,

The brand is now positioned to defend its status as the largest restaurant chain in the country, with a total of 701 outlets nationwide as of this year, said a press release on Monday.

Waewkanee Assoratgoon, general manager, KFC, YUM Restaurants International (Thailand) Co Ltd (YRIT) said, “Yum Thailand has successfully transformed itself into a 100-per cent franchisor in only one year. Our organisation is now in a good shape with an effective structure so that we can expect the most efficiency within the entire business operation.”

As the brand guardian, Yum’s key role is as a brand guard-rail, creating marketing campaigns, providing guidelines, and supporting franchisees and business partners to keep up with the brand’s standards, said Waewkanee.

Yum will also assist franchisors in making a customer complaint recovery plan and to implement a crisis handling protocol.

“Through the collaboration with franchisors, KFC has been able to achieve not only the largest number of restaurants and the unique signature fried chicken, but also the distinctive and beloved brand that we are strengthening,” she said. “Throughout 2018, we have launched a series of exciting campaigns and promotions.”

The year’s branding campaigns included the Valentine’s Day Wing Zabb, National Fried Chicken Day, and the Colonel’s Birthday celebration. The year’s marketing campaigns included Chessy Fried Chicken, Kai Jud Yai spicy friend chicken, the disruptive promotion of Tuesday’s Value of nine pieces of fried chicken for Bt99, and the Zabb on Ice innovative ice-cream promotion that reached more than 48 million Thai people through both online and offline communications and gained massive engagement, said the release.

“As a market leader, we are dedicated to creating new and unique value to enrich customer experience,” said Waewkanee.

YRIT, the operator of the KFC franchise in Thailand, benchmarked its success through an ability to secure the No 1 position and top-of-mind QSR brand as surveyed by the county’s top business magazines, Marketeer and Brandage.

It was also named the most powerful and top engagement brand on social media by Zocial Awards as well as ranking in the top WOM brands mentioned among Thai’s millennials by YouGov2018.

As the largest restaurant chain in Thailand, KFC has served approximately 800,000 pieces of fried chicken daily or 292 million pieces per year.

As a franchisor KFC supports franchisees in their restaurant operations, but also provides them essential know-how to aid business expansion and profitability. Through their collaborative model and support, KFC expect to achieve 701 KFC restaurants in the chain by the end of 2018, 65 of them in the drive-through format.

Of the total, 258 KFC restaurants are being operated by KFC Thailand’s first franchisee, Central Restaurant Group (CRG), which this year opened 22 new restaurants. Another 273 restaurants are being operated by the latest franchise partner, QSR of Asia (QSA), which has invested heavily this year on store renovations at its 47 restaurants. Restaurant Development (RD), the fastest growing franchisee, recently celebrating its second anniversary as KFC’s franchise partner, and RD has experienced rapid growth from 130 restaurants in 2016 to 170 this year.

“With the expansion of urbanisation, it enables us to open more stores, especially using the drive-through model in more distant areas outside Bangkok that serve the needs of people in their community and passers-by like travellers, businessmen, etc,” said Waewkanee.

Expansion is targeted at establishing 1,000 stores by 2020, with at least 100 in the drive-through format.

“Our success does not come only from Yum, but also from our overall corporate franchise partners, which put together capital funds, innovation, and hard work to drive the highest new unit growth in the brand’s history in Thailand,” she said.

The result is that Thailand is now the eighth largest KFC market in the world as well as the fastest growing restaurant brand in Thailand, she said.

BASF is the world’s leading manufacturer of chemicals, which are used in almost all industries.

In an exclusive interview with The Nation, Dhruva, who took over as the regional president in July this year, pointed out that as president for the Asia Pacific region, his vision is to understand the growth prospects and opportunities in Thailand and the support of government and authorities to the local industries, particularly chemicals, automobiles and agriculture.

“We have seen good momentum going forward in Thailand and Asean. Production reached about 3.9 million vehicles last year. Automotive production in Asean is growing steadily, and 50 per cent of automotive production in the region is from Thailand. Thailand represents the largest coatings market within Asean followed by Indonesia and Malaysia,” said Dhruva.

He added that with an increasing number of automotive original equipment manufacturers engaging in production and technology development activities in Asean, there is also a growing need for local innovation in automotive solutions and products, as well as a high degree of technical services.

BASF has had operations in Thailand and Asean for more than 50 years. It began operations in Thailand in 1966. The company has three production sites – in Bangpoo in Samut Prakan province, Chon Buri and Rayong, and two technical labs for coatings and polyurethanes in Samut Prakan. BASF sales to customers in Thailand were worth around 508 million euros in 2017.

With 634 employees, the company offers to customers in Thailand agricultural solutions, automotive catalysts, construction materials, coatings, care chemicals, nutrition and health, industrial chemicals, performance polymers, polyurethanes, and performance chemicals.

“Thailand is a growing economy and a very interesting market, especially for agriculture and automobiles. We have made in the last year significant investments in the country. The opening of our mobile emission catalyst plant in Rayong province in the middle of this year will support the Thai government’s Eastern Economic Corridor [EEC] project, which covers 10 different industries in three major eastern provinces – Rayong, Chachoengsao and Chon Buri. The plant will also meet BASF’s automotive customers’ emerging technology needs in Thailand and throughout the Asean market, and help its customers meet stringent emission regulations, such as Euro V.”

Dhruva also provides support to the local and regional automobile industry with the inauguration of an automotive coatings production plant at its manufacturing site in Bangpoo.

It started operations in December last year. The new plant is the first BASF automotive coatings manufacturing facility in Asean, and will produce solvent-borne and waterborne automotive coatings to meet growing market demand in the region. It also complements the facilities at the Coatings Technical Competence Centre Asean, which was opened in September 2015 at the same location.

The technical centre includes a laboratory for product development, high performance application facilities, colour design, as well as a small batch production unit. The co-location of production and technical facilities enables operational efficiency and speed to market. The new plant’s design not only allows BASF to offer customised service, it also has the potential for future expansion and the flexibility to adapt to new production requirements and changing industry trends.

“The opening of such chemical plants is also in line with BASF’s strategy to support the growth markets with investments in the region,” said Dhruva.

He said that Thailand is a hub for countries like Vietnam, Myanmar, Laos, and Cambodia, where BASF operates and gets support from Thailand, not only on the production side, but also through an innovation and competence centre.

The company has a coating technical competence centre at its plant in Bangpoo, which takes responsibility in adapting products for the local industries and needs. BASF also has two innovation hubs in Shanghai and Mumbai, which provide support to the Bangpoo innovation centre as well as product developments in the region.

Dhruva said that Asean has small but important and fast-growing emerging markets like Vietnam and Myanmar. Vietnam is already a strong contributor to BASF in the Asia Pacific region. Sales to customers in Vietnam were worth approximately 328 million euros last year, compared to 245 million euros in 2016.

Meanwhile, Myanmar is a relatively new market for BASF. Its registered sales in Myanmar more than doubled to 9 million euros last year, compared to 4 million euros in 2016. The company successfully established its presence in Myanmar with the opening of a representative office in 2015 and inaugurated its first construction chemical production plant in May this year. Under the Master Builders Solutions brand, the plant produces standard and custom-made performance admixtures to meet the increasing demands for high-quality construction chemical products in Myanmar.

Dhruva said that the annual GDP growth in Vietnam was 6.51 per cent on average from 2000 until 2018. In the first half of this year, the economy also grew by 7.08 per cent and by 6.88 per cent in the third quarter. In spite of a slowdown in the second half, the government is confident of achieving its annual target of 6.7 per cent. Other than construction chemicals, the important areas of growth include paint and coatings, agriculture and automotive production.

Meanwhile, Myanmar has a potential GDP growth rate of between 7 per cent and 8 per cent or perhaps even more. As the country evolves, it offers great potential for various industries, including agriculture, mining, and construction, he said.

“Achieving sustainability at the same time is a big challenge for both Vietnam and Myanmar, but a major opportunity for chemistry. We are committed to helping our customers to be more successful by being close to them and by providing them innovations and solutions for a sustainable future,” said Dhruva.

Dhruva said that innovation also plays a vital role in the growth of BASF.

“Globally, 27 per cent of our sales is from accelerator products – those with the highest contribution to sustainability along the value chain,” he said.

Dhruva said that the company has already launched its new strategy, which aims for both profitable and CO2-neutral growth. Under the strategy, sales with products that make a substantial contribution to sustainability are expected to reach 22 billion euros in 2025.

“For example, in Thailand we have a successful joint venture with PTT Global Chemical Plc for the Fatty Alcohol Ethoxylate facility at the Eastern Industrial Estate in Rayong. At the plant, we have initiated the ‘heat recovery’ project to recycle the heat in our plant,” he said, adding that the project allows the plant to save up to Bt500,000 monthly or about Bt6 million a year.

“Our objective is to make our production sustainable,” said Dhruva.

BASF achieved 47.089 billion euros in total sales in the first three quarters of this year, with 5.7 billion euros as earnings before interest and tax (EBIT). The contribution from the Asia Pacific is currently at around 22 per cent.

The company last year posted sales at 14.3 billion euros and 2.2 billion euros of EBIT.

BASF has operations in 18 markets in Asia Pacific with 100 production sites and 125 sales offices. The company employs 18,256 people in the region.

“Our aim is to grow above the chemical market, which has increased by between 2 per cent and 3 per cent globally on average. Our growth is driven by investing in plants, products and people,” said Dhruva. “We look at every market and invest for growth and necessity,” he said.

Dhruva said that people play a very important role in the success of BASF. The company has good talents both in Thailand and Asia.

“TMB services business clients with differences. Fintech companies’ concepts are applied in creating supply chain financing solutions whereby an ecosystem is built and involves all relevant parties in the supply chain. Our idea is that all parties win. Our goal is not to generate revenue or grow fee income, but to ensure sustainable growth of our clients’ supply chain,” Rachakorn Chayapirad, head of domestic transaction banking at TMB, said.

Rachakorn’s remarks reflect the marketing strategy of “TMB Supply Chain Financing”. And the strategy is now being applied to CJ Supermarket, a Thai convenience store chain.

Supply Chain Financing and E–Supply Chain have been trending following increasing digitalisation in Thailand’s financial industry. The trend kicked off with the National e-Payment that waives transfer fees and brings down the transfer, receiving and sending cost to zero. Digital technology also leads to the migration of paper-based operations to an electronic platform. Both were key factors that contributed to a jump in the supply chain industry’s growth in the past 1-2 years.

TMB said it sees small and medium-sized firms in particular as needing a sizeable amount of working capital but suffering from limited access. As their information appears on the digital platform, TMB witnesses the flow of business between buyers and sellers in the supply chain. The information can be analysed and a loan can be approved accordingly. Credit extension is quick while risk analysis quality improves, leading to quick loan approvals and higher credit amounts compared to unsecured lending, the bank said.

Rachakorn explained that TMB and CJ Supermarket’s partnership is aimed at moving its supply-chain management to the next level and enhance the efficiency. It is set to address the pain point that orders placed with small and large suppliers were based on papers. Though CJ Supermarket has put in place an electronic system, several suppliers prefer the paper-based system which were time-consuming and increased cost. Some documents are missing or contain errors.

“Our question is what platform will entirely turn the paper-based system to an electronic system, a system that allows CJ Supermarket to place orders electronically and suppliers can produce products according to the electronic orders. And the platform must also be able to immediately transform the orders to electronic purchase orders and such information should be accessible by CJ Supermarket. All transactions on the electric platform can reduce the operating cost and enhance management efficiency. Plus, the information can be stored for future analysis.”

Veeratham Setthasit, deputy managing director of CJ Express Group Co Ltd, said: “CJ Supermarket is a large-scale retail chain. We’re the first Thai retailer with annual sales exceeding Bt10 billion, being in an industry dominated by foreign retailers. Our key strategy lies in inventory management. We’re confident that our supply chain is as efficient as that of foreign retailers. Our supply chain now involves more than 600 suppliers, including over 200 large-scale suppliers.

“Our daily ordeal is to handle orders from over 300 outlets, involving over 10,000 SKUs [stock-keeping units]. That means over 3 million sets of data. TMB’s EDI system will facilitate the sending of purchase orders to suppliers and suppliers will receive orders that contain no error. This ecosystem will benefit our operations and our suppliers.”

Thailand sent representatives to the IAF/ILAC joint annual meeting recently held in Singapore, including participating in the working-group meeting on the ISO/IEC17024 standards for certification of professionals.

In the meeting, 192 participants from over 100 countries discussed best practices regarding professional certifications for the purpose of gaining global recognition of Thai certified professionals. Discussed were procedures to identify fairness, validity, reliability and general performance of competency assessment.

Thailand demonstrated strong determination to create a standard performance assessment consistent with the ISO/IEC17024 requirements.

‘Central Village’ luxury outlet to open in 2019

Central Pattana yesterday confirmed it will open “Central Village” next August, billing it as “the first international luxury outlet in Thailand”.

Central Pattana Plc (CPN), said it had closed deals with half of the project’s 235 boutique stores and would partner with Central Group, including leading fashion-brand importer the Central Marketing Group.

Global brands Polo Ralph Lauren, Kenzo and Vivienne Westwood have agreed to join forces with Central Village, as has CK Jeans for its first and only outlet in Thailand along with Adidas.

The outlet will be located on the main road to Suvarnabhumi Airport. CPN aims to attract both Thai and foreign tourists to stop by Central Village on their way in or out of the airport.

Responding to the global trend of establishing an airport city, CPN said it would contribute to making Thailand a real shopping haven for both Thai and foreign visitors from around the world.

The outlet would open next August under the concept “Bangkok Outlet Experience”, said the news release.

Shell pushes a ‘green’ solution

Oil giant Shell Thailand has announced an aspiration to reduce environmental impacts.

The Shell Company of Thailand will focus on supporting a future-oriented energy transition through innovation, partnerships and developing opportunities for people.

The company is doing its bit by supporting the efficient use of energy, using waste management as a source for energy renewal, and reforestation, the company said in a Monday press release.

The actions reflect the company’s sustainability aspiration, in addition to aligning with the Thailand 4.0 policy aiming to create growth and improve the quality of life while also being friendly towards the environment, said the release.

Said Asada Harinsuit, chairman of the Shell Company of Thailand Ltd, “As one of Thailand’s leaders in oil and the energy industry, our main goal is to deliver more and cleaner energy for customers. With an emphasis on sustainability and environmental care, Shell’s business strategy is to support the use of energy to enhance business growth while also caring for society.

“In order to achieve a better quality of life, we take different measures to reduce environmental impacts and greenhouse gas emissions while also creating sustainable harmony between people and environment.

“Our business strategy is in line with the National Agenda for development and based on the fundamentals for improving life quality, while remaining environmentally friendly to reduce the impact of climate change by 40 per cent and increase green space by 35 per cent.”

The State of the Environment Report by the Thailand Environmental Institute indicated that out of 6.187 tonnes of toxic waste, only 35 per cent was properly processed. This is due to the lack of coverage for waste sorting, waste collection and waste delivery, said the release.

UOB and JustCo offer co-working space deals

United Overseas Bank (Thailand) has signed a memorandum of understanding (MoU) with JustCo to offer preferential rental rates at any of JustCo’s three co-working spaces in Thailand.

JustCo is one of Asia’s leading co-working space providers with 22 co-working centres in Bangkok, Jakarta, Shanghai and Singapore.

Under the MoU, the bank’s startup and SME customers in Thailand, will enjoy 20 per cent off the rental rates at any of JustCo’s co-working spaces in several buildings located in Bangkok’s Central Business District – AIA Sathorn Tower, Capital Tower-All Seasons Place and Samyan Mitrtown.

James Rama Phataminviphas, country head of channels and digitalisation, UOB (Thai), said, “For startups and SMEs looking to establish themselves in Thailand, co-working spaces offer an efficient alternative to setting up a physical office from scratch.

“For example, a recent study showed that many young Asean FinTech firms think that co-working spaces are beneficial to them as they may not have sufficient resources to set up their own office space.

“Our collaboration with JustCo will enable us to offer UOB’s many startup and SME customers yet another convenient and cost-effective option to set up and to manage their operations in Thailand.”

Samitivej offers digital experience to patients

In response to the needs of patients, Samitivej is expanding its innovative mobile health services.

Samitivej Mobile Health offers Samitivej Plus app, Line@Samitivej and Samitivej PACE to improve the patient experience. Mobile Health’s new Ward Tracking app has now been made available so patients can prepare for medical procedures and to provide daily treatment schedules with on-demand features. Samitivej has deployed Apple technology to create this digital experience in caring for its patients.

People are paying more attention to their wellbeing in this rapidly changing world, said Dr Chairat Panthuraamphorn, CEO of Samitivej and BNH hospitals. Focusing on the importance of such changes, Samitivej is well prepared to meet the higher expectations of patients.

In line with the Healthcare 4.0 era, Samitivej is providing Thailand’s first Mobile Health service in Thailand through an easy-to-use smartphone application, enabling patients to connect with hospital services before, during and after treatment upon their return home. Underlining its determination to enhance the patient experience, Samitivej for the past three years has worked to develop innovative digital technology based on its insights into their patients and patient families.

With Samitivej Mobile Health, the hospital eliminates common pain points, such as waiting time to see a doctor or making a payment, their release said yesterday.

He also revealed that the national carrier wants to buy additional aircraft in the next five years, with the long-term aim to bring the airline’s fleet numbers up from 100 to 125.

“It is necessary to increase the number of aircraft if we want to keep up with the growing market,” he told reporters yesterday, adding that the commercial aviation market was growing by 3 per cent yearly.

“If we fail to boost our fleet, we stand to lose 10 per cent of the market share in the next three to five years,” he cautioned.

“We need to push for progress in terms of a larger fleet as soon as possible. The Cabinet will need to approve our proposal swiftly if Thai Airways is to keep up with the high competition.”

The proposal to acquire new aircraft, however, will not necessarily boost the airline’s fleet, he said, because old craft will need to be replaced. “Even after the Cabinet’s approval, it will be at least two more years before the new aircraft will be put in use, as we will need to proceed in line with the regulatory and purchasing process,” he said.

However, Sumeth did not reveal any details of the airline’s ongoing business recovery plans.

In this year’s third quarter, Thai Airways made a net loss of Bt4.082 billion, higher than the Bt2.107 billion net loss last year, as per figures revealed by the Stock Exchange of Thailan.

The airline’s revenue for the third quarter this year stands at Bt149.24 billion, compared to Bt190.53 billion in 2017.

Thai Airways also signed a memorandum of understanding with PTT Oil and Retail yesterday in a move to boost business, such as selling Thai Catering products via Amazon Cafe’s 70 branches across the nation by the end of next year.

“We started making Thai Catering products available in five Amazon Cafes since May and aim to expand this number to 12 outlets by the end of this year, and start selling nationwide by 2019,” Sumeth said.

The investment, for the fiscal year June 2018 to May 2019, aims to focus on technology implementation in the poultry supply chain, provide additional funds for research and development in the aquaculture industry and expand the cooked poultry facility in Nakhon Ratchasima province. The funds were also earmarked to upgrade and refurbish its aqua feed production plant in Phetchaburi province.

MacLennan explained that the company sees significant business growth in Thailand, adding that the poultry business makes up nearly 80 per cent of Cargill’s operations in Thailand. The investment is also part of the company’s global innovation strategy to leverage technology, in order to meet the needs of its partners and customers.

Cargill owns and operates five animal and aqua-feed mills in the provinces of Chachoeangsao, Nakhon Pathom, Nakhon Ratchasima and Phitsanulok. The company also has poultry processing operations in Saraburi and Nakhon Ratchasima provinces.

Cargill has been operating in Thailand since 1968, and has invested over $1.15 billion over the years. It currently has 14 facilities across the nation and employs more than 17,000 people.

Its operations in Thailand are comprised of origination, sourcing, processing, handling, distribution and marketing of a wide range of products, including agricultural commodities, animal feed, cooked poultry, food, as well as ingredients for food and beverages.

Nakul Sharma, chief executive officer and co-founder of UK-based Hostmaker, on Monday said: “Thailand has so much potential for middle- to long-term lettings. While we are still very new to the market, having local management who has international experience will help us quickly learn about the market and better understand Thai landlords.

“As a Thai, Paruethai has a depth of understanding of market pain points such as the language barrier between landlords and guests and [landlords’] lack of managing skills, and the experience to deliver the five-star home. She then helps them out via our world-class, cost-effective solution.”

Paruethai has more than 10 years of working experience in the property and service industry. Her career started early while she received a scholarship to study for her bachelor’s degree specialising in International Relations in New Zealand.

Paruethai landed her first real-estate job at the age of 19 at RedEx Property as a residential and commercial property manager for four years.

Recently, Paruethai was a property portfolio manager at Blackstone Group (NZ) in Auckland, where she was in charge of managing a wide range of residential and commercial properties for local and offshore investors.

She also set up a new business unit for the group, providing property services.

In her new role at Hostmaker Thailand, Paruethai will be responsible for managing local market operations, business development, strategies and planning, and procedure implementation.

Paruethai believes in taking the Thai real-estate industry forward, especially in the property-tech scene, Sharma said.

Her goal is to help Thai property owners maximise their investments and provide excellence of service for everyone, he added.

Reporting to Ken Potrock, president of Disney Consumer Products Commercialisation, Samat takes on responsibility for the commercialisation of Disney franchises across merchandise, publishing and licensed games throughout India, Southeast Asia, Greater China, South Korea, Japan, Australia and New Zealand.

He rejoined The Walt Disney Company in India in November 2016 and went on to integrate the Southeast Asia and India businesses to form The Walt Disney Company’s South Asia regional hub in September 2017.

Samat previously led The Walt Disney Company’s India operations from 2008 to 2012.

“The Asia-Pacific region continues to provide immense opportunity for Disney products and experiences,” said Potrock. “I am confident that Mahesh’s proven leadership and steadfast focus on innovation and entrepreneurship will deliver dynamic growth across our brands and product categories.”

“Disney products and experiences bring our stories and characters closer to fans every day. I am pleased to have the opportunity to lead this exceptional team to delight kids and families across these high-growth Asian markets,” said Samat.

With more than 25 years of experience in fast-moving consumer goods, media and healthcare across India, Asia-Pacific and Europe, Samat previously worked with Johnson & Johnson, Kellogg’s, Warner-Lambert/Parke-Davis and Boots India.