Thai senior executive role models for women
See "SET on success" (business, page front page)By Jon Fernquest
[Introduction|Vocabulary|Article]
[Reading Questions|Answers]
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What does it feel like to reach the top?
What additional pressures in your life do you experience when you get there?
Young women in Thailand are asking these questions more and more as opportunities open up to them in the work world.
All over the world the so-called glass ceiling that women traditionally face as they advance into higher male-dominated ranks of management is breaking, slowly but surely.
Today's article features a discussion with the Stock Exchange of Thailand's (SET) new female president Mrs. Patareeya Benjapolchai.
There are many reassuring facts in the interview. Hard work is rewarded.
A high profile celebrity lifestyle full of luxury and glamour is what we'd expect from watching a lot of movies.
This interview shows us what it really takes to be a high ranking executive of national importance.
Reading Questions
Here are some questions to guide your reading (See answers at end):1. What changes to the way she presents herself in public has Mrs. Patareeya had to make?
2. How many years has SET existed?
3. How many female presidents has SET had?
4. How many people have been promoted from within SET to become president?
5. Why did the SET board of directors choose someone from within the organisation as president?
6. Is Mrs. Patareeya a hard worker?
7. Does Mrs. Patareeya like her work? Why?
8. How does her staff provide a motive to work hard?
9. Does she continue to learn things even after attaining the high rank of president?
10. Are the goals of SET always the same?
11. What important people skills does she believe effective managers must have?
12. What strange inconsistency is there about the employment of women in the finance and securities sector?
13. What educational background does Mrs. Patareeya have?
14. Has she been with SET for a long time? How long?
15. What different kinds of jobs has she done at SET?
16. When she has free time for recreation what does she like to do?
Article
SET for success
PLOY CHITSOMBOON
Patareeya Benjapolchai, the new president of the Stock Exchange of Thailand, says she's facing the most challenging year of her life so far
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Of course, Mrs Patareeya still patronises her favourite noodle stall on Sena Nikhom Road, albeit in long pants.
Such are the sacrifices made by a woman who has reached the pinnacle of the Thai capital market. On June 1, Mrs Patareeya became only the second female president in the 30-year history of the Stock Exchange of Thailand, and the first internal candidate to hit the top post.
The appointment came as a surprise to some, who have questioned whether an insider was best suited for the role. But the SET board, wary of the challenges faced by the exchange in a difficult year for the Thai economy, sought stability and continuity following the resignation of former president Kittiratt Na Ranong.
''I'm someone who is consumed with work really, all my life. It's something that invigorates me,'' Mrs Patareeya says, with a convincing smile.
The high expectations from her staff and critics are one motivation.
''I'm getting better with each day in handling the job. Although I have to admit, since becoming the president, I've been dreaming a lot about work.
''But my life is quite balanced. Each day, I still wake up every morning to give alms with my father in front of my house.''
Mornings start early with the alarm clock set for 5:45 am, followed by a quick breakfast and glance at the headlines to see what events might affect the market.
''You have to be alert. A reporter asked me the other day about my thoughts on North Korea's missile testing,'' Mrs Patareeya says.
''Now I understand what it means to be number one. It really includes all the little things, every single responsibility.''
It wasn't necessarily a position that the 52-year-old career SET executive had actively sought.
''When the board called me up to talk about the offer, I told them straight out that being SET president was not my lifetime goal,'' she recalls.
''At this very point in my life, I think I have done my best to serve the organisation. And I'm happy with what I have. Being able to lead a simple, modest life is the greatest blessing, and I couldn't really ask for more.''
But behind her reassuring smile, ''Khun Nui'' boasts a sure-footed confidence in her ability to get the job done.
''Of course I have my own way of handling things. And I have my own management style,'' Mrs Patareeya says.
''I believe that everybody must think differently and yet must be able to work on things with different approaches. The goals of the SET are also even different at different times. I think the board certainly wants a person who can do the job and has the confidence to lead the organisation.''
Knowing people's strengths and weaknesses is crucial for any effective manager.
''Everyone has weak points. But if you know how to highlight the strong points, you'll get the most productive work,'' she says, adding that she is aware of the need to set a strong example to her staff.
''I'm the first to be promoted to the job from within. So if I can succeed, it will help prove that I wasn't a mistake, and show others at the SET that they too can someday reach the top.''
Mrs Patareeya laughed at the thought of being a feminist champion as she joins the rarefied ranks of female top executives in corporate Thailand. Even though more than half of the staff in the finance and securities sector are women, senior executives remain rare, with the possible exception of asset management companies.
''I actually think being a woman gives me a lot of benefits in running my job smoothly,'' she says. ''These days, more and more jobs are given to women who are trusted with responsibility.''
An accounting and MBA graduate from Thammasat University, Mrs Patareeya also completed an executive programme at the University of Michigan. Her career at the SET began with the exchange's opening in 1975, and over the years she has moved through various departments including listed-company supervision, research, development and planning and corporate operations.
SET policies to expand the investor base, strengthen market infrastructure and products and support educational and social development initiatives will be maintained, she says.Mrs Patareeya acknowledges that the new job means even less time spent with her husband, Danu Benjapolchai, an executive at Thai Oil Plc. The pair already have to deal with being apart during the week, as Mr Danu is currently based at Laem Chabang in Chon Buri.
''My husband said he will support and bear with me throughout this four-year term,'' Mrs Patareeya says with a laugh.
''My golfing time has already been cut down, and it's fortunate that I don't have children or too many domestic chores.''
What little time is available for recreation goes to reading or sports, with Mrs Patareeya often to be found doing laps on a bicycle at Benjakitti Park near the SET headquarters.
Vocabulary (in article)
to patronise a business - to regularly buy things from a businss and support it
albeit - but, although
reached the pinnacle of - reach the top of
internal candidate, insider - a person who you might give a job to who already works for the company
best suited - most appropriate, best choice given the circumstances
wary - cautious (because there may be some danger in the future)
continuity - the things that remain the same over time, the opposite of change
invigorates - gives you energy
give alms to monks - give rice to monks in front of the house each morning according to Thai tradition
glance at - look quickly at
actively sought - trying hard to get
a modest life - a simple life (for example without spending a lot of money on expensive things and luxuries or being a celebrity)
a blessing - something that you are grateful for
reassuring - makes you feel less worried
sure-footed - without making mistakes (walking through a difficult area where it is easy to fall down, without falling down)
rarefied - a very high place or position different from ordinary life (originally rarefied air high up in the mountains that has little oxygen and is difficult to breathe)
a listed-company - a company who has shares traded on the stock exchange
increase the investor base - increase the number of investors trading shares on the stock exchange (the foundation of customers that the stock exchange business is based on)
initiatives - important actions to solve problems
to let someone down - to not do something when someone is expecting you to do it (so they have made plans and have to break them, for instance)
Answer Key:
1. What changes to the way she presents herself in public has Mrs. Patareeya had to make?
She has had to "pay more attention to her looks."
She "can't even go out in shorts to eat beef noodles anymore," so she wears long pants.
2. How many years has SET existed?
30 years.
3. How many female presidents has SET had?
Two.
4. How many people have been promoted from within SET to become president?
Only one, Mrs. Patareeya.
5. Why did the SET board of directors choose someone from within the organisation as president?
The SET board thought this was the best way to maintain "stability and continuity."
During the last year stability and continuity has been important because of 1. difficulties in the Thai economy and 2. the resignation of the previous SET president.
6. Is Mrs. Patareeya a hard worker?
Yes, she is "someone who is consumed with work."
7. Does Mrs. Patareeya like her work? Why?
Yes, she says her work invigorates her and gives her energy.
8. How does her staff provide a motive to work hard?
They have high expectations for her.
They expect excellence in what she does.
This motivates her to work hard so that she
does not let them down.
9. Does she continue to learn things even after attaining the high rank of president?
Yes, she observes, "I'm getting better with each day in handling the job."
10. Are the goals of SET always the same?
No, SET's goals are "different at different times."
11. What important people skills does she believe effective managers must have?
"Knowing peoples' strengths and weaknesses" and "setting a strong example to her staff."
12. What strange inconsistency is there about the employment of women in the finance and securities sector?
"Even though more than half of the staff in the finance and securities sector are women, senior executives remain rare, with the possible exception of asset management companies."
13. What educational background does Mrs. Patareeya have?
She graduated in accounting and with an MBA from Thammasat University and also completed an executive programme at the University of Michigan.
14. Has she been with SET for a long time? How long?
Yes, she has been with SET for 30 years since its founding in 1975.
15. What different kinds of jobs has she done at SET?
She has worked in several different departments including "listed-company supervision, research, development and planning and corporate operations."
16. When she has free time for recreation what does she like to do?
She likes reading and sporting activities like bicycling.
