Within the lineage of Thai beer Chang, daughters also get a seat at the table

For Thapanee Techajareonvikul, believing that women are part of the top leadership has never been unusual.

His late mother, Wanna Sirivadhanabhakdi, was instrumental in building the TCC Group into a multi-billion dollar empire that includes beverages, real estate, retail and manufacturing, and goods including Chang beer and Singapore-listed. Fraser & Neave.

Charoen Sirivadhanabhakdi, the father, ensured that his two sons and three daughters get equal opportunities in the family business. Today, each child presides over a different part of the kingdom.

Thapanee, the couple’s fourth child and youngest daughter, took over as CEO and President of Berli Jucker PCL in 2023, becoming the first female executive at the retail and packaging company.

The company’s portfolio includes Big C, the second largest supermarket chain in Thailand, which operates in Vietnam, Cambodia, Laos, and Hong Kong.

“When I became a female leader, I didn’t feel nervous,” she said during a special taping of CNBC Meets: Legacies, which was held at UOB’s private banking event in Singapore.

“I always saw Mom right there with Dad, in front of the long table,” the MIT and Harvard Business School graduate told CNBC’s Tania Bryer.

Thapanee and her siblings grew up watching their parents work, often accompanying them to business meetings. Watching how they came to decisions and the relationships that revolved around them was what he described as “the greatest learning” one can get.

Both parents emphasized hard work and humility as the keys to unlocking opportunity. They also work hard to ensure that all businesses benefit all stakeholders.

“Dad was always looking for collaboration; he wanted a win-win situation for everyone involved,” he said.

His mother played a balancing role, providing important weight to his father’s risk-taking as he rarely proceeded without his wife’s blessing.

Although TCC is a growing organization, Thapanee said the group’s expansion through mergers and acquisitions has long been driven by strategic fit.

He cited the acquisition of the Berli Jucker group in 2001 mainly due to the production of glass bottles, which is complementary to its beer and spirits businesses.

The group’s liquor assets have since been consolidated under the Singapore listing Thai drink PCLled by his elder brother Thapana, who also heads the second generation of the Sirivadhanabhakdi family.

The large property portfolio is divided into several units. Her second sister Wallapa Traisorat heads Asset World Corp PLC in Thailand while her younger brother Panote Sirivadhanabhakdi, heads Singapore is listed. Property of Frasers.

Atinant Bijananda, his elder sister, works as the vice chairman of the executive board of Thai Group Holdings, an investment holding company under the TCC group.

Forbes estimates the wealth of the Sirivadhanabhakdi family at $10.5 billion, ranking it fourth on the latest Thai rich list.

For Thapanee, his parents remain good role models for partners working in family businesses.

“My mother and father always told visitors and friends that they were never apart, day and night, for 51 years straight,” he said. “So they are true partners in life and business.”

When asked about his behavior, Thapanee said that he is influenced by his parents’ emphasis on listening, respecting and fostering a sense of belonging among their employees.

“I want to make the family business more professional, but the professional organization should also feel related to the family,” he said of Berli Jucker, which employs about 61,000 people. Notably, women account for 60% of employees and half of senior management.

She works closely with her husband, Aswin Techajareonvikul, who was the head of Berli Jucker. He currently leads Big C as it prepares for a public listing and serves as senior vice chairman of Berli Jucker’s board of directors.

Among the company’s near-term priorities are integrating and growing MM Mega Market, a Vietnamese consumer goods distributor recently acquired from TCC for approximately $720 million, and expanding the use of artificial intelligence.

Thapanee said AI is already being used to optimize delivery systems and reduce energy consumption in the group’s manufacturing plants.

Although they are busy running their businesses, Thapanee and her siblings meet regularly for family gatherings.

Earlier, the meetings were usually held together, but that changed after his father transferred shares in the TCC group company to his five children last year. The brothers now meet regularly to discuss issues related to the organization.

While he and his siblings were expected to join the family business, Thapanee, who worked at Merrill Lynch in Singapore before joining the group, said the next generation will be given more freedom to chart their own path.

One of her three children was present during the interview as Thapanee talked about the family’s future

“We will involve them (in the business) on the move, and they will be able to choose what is best for their profession or their choice going forward,” he said.

Some members of the third generation have begun to identify areas of interest. Another nephew, a high school senior, expressed interest in the family’s property business.

As more family members become involved in the business, Thapanee said the same family values ​​and sense of unity will help preserve the TCC Group for the benefit of future generations.