Management & Governance

Associate Professor Dr. Supphachai Supphachalasai, a commissioner of the National Broadcasting and Telecommunications Commission, or NBTC, in his capacity as chair of the meeting, signed a most-urgent memorandum to the NBTC secretary-general notifying him of the schedule of NBTC meetings and requesting that administrative arrangements be prepared to support them. This followed the first special NBTC meeting of 2026 on 2 October 2026, at which a resolution was passed appointing him as chair of the meeting to consider agenda item 5, concerning the setting of guidelines for the operations of the NBTC board. Five NBTC meetings were scheduled within October 2026: 6 October from 10.00 to 16.30, 8 October from 10.00 to 16.30, 21 and 22 October from 09.30 to 16.30, and 28 October from 09.30 to 16.30. From November 2026 onward, NBTC meetings are to be held every Wednesday of each week, with additional meetings possible if necessary, using Meeting Room Sailom 1121 on the 12th floor of the Administrative Building at the NBTC Office as the venue. The NBTC Office was also asked to take the agenda items set out in the draft agenda for the 22nd NBTC meeting of 2026, originally scheduled for 27 July 2026, and place them back on the meeting agenda in order to move forward with matters still pending, and to prepare so that public services in broadcasting, television, and telecommunications continue without interruption or standstill. Meanwhile, Sarinee Achavanuntakul, a financial expert and social commentator, posted a message on social media criticising the work of the NBTC Office and the acting secretary-general for failing to act on the instructions of the majority of commissioners, and shared the view of Was Tingsamitr, a former senior judge of the Supreme Court, who held that if more than half of the commissioners call a meeting and a quorum is present, the Office should carry out its duty to support the meeting, and that if the NBTC secretary-general refuses to perform his duties, he may risk both his position and legal liability for wrongful omission of duty.

The research department of Asia Plus Securities has issued an analysis of Thai Airways International Public Company Limited, or THAI, after the company's board resolved to investigate the facts surrounding the flood incident in late September 2026, as well as to review its crisis management process. During the investigation, the board resolved to suspend the CEO from duty. THAI resumed all flights from 3 October after cutting 15 and 9 flights on 1 and 2 October respectively. Asia Plus research views that the impact of the flight reductions, compared with all TG flights at Suvarnabhumi, which averaged about 120 flights per day in August, on the departure side alone, remains limited for fourth-quarter 2026 operating results. Going forward, the focus should be on the investigation and on long-term solutions to ground handling problems, including the adequacy of staffing, equipment, and emergency response processes, to reduce the chance of a repeat incident, especially before the high season. On management, although the CEO's term is due to end in January 2027, the situation may add uncertainty to the company's strategic direction, which bears continued monitoring. As for the overall effect on 2027 forecasts, jet fuel, which accounts for about 37% of OPEX, remains the key variable for profit recovery. Normal profit for 2027 is expected to recover 25% from a low base, assuming jet fuel at 117 US dollars per barrel, based on the IATA jet fuel year-to-date average through 25 September 2026 of 161 US dollars per barrel. The recommendation is to buy THAI with a 2027 target price of 6.80 baht.

Newmark Group, Inc. has appointed Mike Whitaker as Group Chief Information Officer, reporting to Chief Operating Officer Luis Alvarado and joining the Executive Committee to oversee technology, data and information initiatives across the firm. Whitaker holds a dual role as Group CIO at both Cantor Fitzgerald and Newmark, and previously held senior technology leadership positions at Citi, Deutsche Bank and Barclays Capital. The appointment is intended to more tightly integrate advanced technology capabilities with Newmark's long-term operational priorities, sharpening its technology and data agenda at the Executive Committee level. The near-term impact on revenue or margins is unlikely to be material without clear execution milestones, though the move raises expectations for productivity, client analytics and risk controls over the next few years. Investors remain focused on the Q3 2026 results due October 29, the ongoing buyback and the CEO transition at year-end, with debt levels and sector volatility on the risk side.

PTT Public Company Limited, or PTT, has announced a simultaneous reshuffle of senior executives at several subsidiaries, effective from October 1, 2026, while the group awaits the process of selecting a new Chief Executive Officer and President. Dr. Kongkrapan Intarajang, the current CEO, will reach retirement age in April 2027. At the parent company PTT, Chonlamas Sasananant has been appointed Chief Financial Officer, or CFO, succeeding Phatralada Sa-nga-saeng. Chonlamas Sasananant has also been appointed Acting Senior Executive Vice President of the Accounting Management Center. At PTT Exploration and Production Public Company Limited, or PTTEP, two key executive positions have changed: Kanita Thanita Sasawattayu has been appointed the new CEO, replacing Montri Lawanchaikul, whose term ended on September 30, 2026, and Sermsak Sajjawanakul has been appointed Acting CFO, or Senior Executive Vice President of the Finance and Accounting Group, replacing Chonlamas Sasananant. At Thai Oil Public Company Limited, or TOP, the CFO changes from Wanida Boonpirak to Trisawan Thiansawat. At Global Power Synergy Public Company Limited, or GPSC, Cherdchai Boonchuchuay has been appointed the new CEO, replacing Worawat Pitayasiri, who reached retirement age on September 30, 2026. At PTT Oil and Retail Business Public Company Limited, or OR, the CFO changes from Wilaiwan Kanjanakanti to Nam-phet Suparattanasit, and Thanawat Sermwongtrakul has been appointed Acting Financial Control Manager, replacing Phatranit Kijtha. Finally, at IRPC Public Company Limited, or IRPC, Sirimeth Leepakorn has been appointed the new CEO, replacing Therdkiat Prommool, whose term ended on September 30, 2026. In addition, the resignations of two directors have been announced: Phatralada Sa-nga-saeng, Director and Chairman of the Risk Management Committee, and Chadil Chuanalikhit, Director and member of the Nomination and Remuneration Committee, as well as the resignation of Somsak Anantawat from the position of Director and member of the Corporate Governance and Sustainability Committee, also effective from October 1, 2026.

David Robinson, a former safety lead who recently left OpenAI, has criticized the company's approach to artificial intelligence safety. In a contributed piece published in The Atlantic on the 3rd, Robinson argued that a corporate culture that prioritizes development speed is increasing the risk of failure, writing that "the era of trial and error is over." He said he spent three and a half years at OpenAI, where he helped draft the company's "Preparedness Framework" and oversaw the preparation of safety reports accompanying the release of 12 frontier models. An OpenAI spokesperson said in a statement that the company works to ensure model capabilities do not exceed what can be safely managed and protected, and that it pauses training or holds back model releases when it needs to slow down.

Topicus.com confirmed in early October 2026 that long-time executive Ramon Zanders has taken over as CEO from Robin van Poelje, who remains Chairman. The leadership change has sharpened investor focus on how Zanders will handle capital allocation, acquisition discipline, organic growth and margins. The most relevant backdrop to the transition is the revised non binding proposal to acquire ReadyTech Holdings at up to A$2.00 per share in cash, a live test of Topicus.com's acquisition discipline, integration capability and capital deployment under Zanders. The company's narrative projects €2.5 billion in revenue and €631.7 million in earnings by 2029, requiring 13.2% yearly revenue growth and about a €596 million earnings increase from €35.4 million today, with a CA$144.65 fair value implying 61% upside to the current price. Five members of the Simply Wall St Community currently estimate Topicus.com's fair value between CA$128.42 and CA$170.81, and the key short term question is whether the company can close the ReadyTech proposal on acceptable terms.

Anusorn Thammajai, a former Thai PBS policy board member, vice-chairman of the House committee on monetary affairs, finance, financial institutions and financial markets, and an MP of the People's Party, has come out against a proposal to amend the law governing the revenue sources of the Thailand Public Broadcasting Service, or Thai PBS, shifting it from the organisation's levy collected from excise taxes on liquor and tobacco to the state's annual expenditure budget. He warned that bringing Thai PBS under an annual budget system, in which the government sets the funding ceiling, could destroy the principle of financial independence for public media and reduce its role to that of just another state public relations outlet. Anusorn proposed four policy solutions. The first is to switch to a system of funding bound by an automatic formula, or Formula-Based Funding, with economic reference formulas clearly set out in law, so that the government or a parliamentary majority cannot use discretion to cut the budget for political reasons. The second is to define its status as an expenditure under legal obligation, or a Statutory Fund, to prevent the budget from being suspended or used as a bargaining chip in politics. The third is to raise the level of scrutiny through parliament, requiring Thai PBS to report its operating results and financial value for money directly to parliament, while serving as a base for raising media industry standards and protecting the rights of media workers. The fourth is to reform the organisation's governance instead of stripping away its financial independence. He stated that the budget of the Thai Public Broadcasting Service has been capped by law at no more than 2 billion baht per year since 2008, which is not a threat to fiscal discipline, while the real fiscal risks come from chronic deficits, ineffective binding expenditure obligations, the issuance of an emergency decree for a 400 billion baht loan, and tax revenue lost to corruption of 200 to 300 billion baht a year.

Levi Strauss & Co. has appointed John Vandemore, a finance leader with more than 25 years of consumer industry experience and former Skechers CFO, as its new Executive Vice President and Chief Financial Officer. Vandemore succeeds Harmit Singh, whose planned retirement and transition to Special Advisor runs through November 30, 2026. Vandemore's broad remit across finance, supply chain, digital, and IT at prior employers could influence how Levi Strauss prioritizes growth investments, cost control, and data-driven decision-making. The hire follows management's July decision to lift full year 2026 revenue growth guidance to 7.0% to 7.5%, while also raising the dividend twice this year. Levi Strauss' narrative projects $7.7 billion revenue and $839.5 million earnings by 2029, with a $28.20 fair value implying 42% upside to its current price.

Michael Kotlikoff, president of Cornell University, pledged to review the role of fraternities and sororities within the university after heavy criticism over how it handled allegations that a female student was sexually assaulted. In an 8-minute video on Saturday, October 3, he said the incident was deeply disturbing and expressed regret over what the female student had to endure. The case arose after a female student, identified in court documents as Jane Doe, sued Cornell and seven former students, alleging she was drugged and raped by multiple members of the Chi Phi fraternity in 2024. She also alleged the university did not do enough to discipline some of the accused students. The accused have denied all wrongdoing. Cornell said the university investigated the matter thoroughly, barred Chi Phi from operating on campus, and imposed a range of disciplinary measures, including expelling some students. New York Governor Kathy Hochul appointed New York Attorney General Letitia James as a special prosecutor to investigate the case, saying new information had left her without confidence in the local prosecutor, who had previously decided not to charge those involved.

QBE Insurance Group has appointed long-serving executive Jonathan Groves as CEO of its Australia Pacific division, effective 1 November 2026, subject to regulatory approvals. The leadership change lands on top of a finely balanced valuation story: analysts see fair value at about A$24.47, only slightly above the A$23.81 last close, leaving the stock roughly 3% undervalued. QBE has delivered a 20.19% year-to-date share price return and a 4.11% decline over 90 days, while its 5-year total shareholder return stands at 136.36%. The company's strong capital position, recent AA credit upgrades and disciplined risk management underpin stable dividend payouts and optionality for strategic acquisitions or investment in new growth segments. The story could still shift quickly if premium rate pressure worsens or large loss volatility unsettles underwriting results again.

Kemper Corporation has formed an enterprise Distribution & Marketing organization, appointing former Kemper Life President Chris Flint as Chief Distribution & Marketing Officer and naming new leaders for its P&C Claims and Life businesses. The move consolidates sales and marketing across the company while placing experienced operators over claims and life insurance, an effort to tighten execution and better align growth initiatives across business lines. Among the recent developments, the appointment of Todd Williams as Chief Claims Officer stands out alongside the marketing reorganization, given that claims performance sits at the heart of Kemper's key risk around loss ratios and reserve stability. Kemper's narrative projects $4.3 billion in revenue and $527.0 million in earnings by 2029, yielding a $36.33 fair value and a 42% upside to its current price, while some of the most cautious analysts were assuming revenue around US$4.8 billion and earnings near US$415 million by 2029. The reorganization does not by itself remove the biggest near-term pressure point, which is underwriting volatility in specialty auto and the risk of further loss-driven earnings swings.

China Uranium, stock code 001280, announced that Chairman Yuan Xu has resigned due to work adjustment. The announcement shows that the board of directors of China Uranium recently received a written resignation report from Yuan Xu, in which he applied to resign from his positions as chairman, director, and convener of the board's strategy and investment committee. His original term was set to end upon the expiration of the second board of directors. After resigning, he will no longer hold any position in the company. According to relevant regulations, Yuan Xu's resignation will not cause the number of board members to fall below the statutory minimum, and his resignation report takes effect from the date it is delivered to the board. It will not have an adverse impact on the company's daily management or production and operations. As of the disclosure date of the announcement, Yuan Xu does not hold any company shares, and there are no commitments that should have been fulfilled but have not been fulfilled. China Uranium stated that during his tenure, Yuan Xu performed his duties diligently and conscientiously, steadily advanced the increase of domestic natural uranium reserves and production, significantly enhanced the ability to control overseas uranium resources, accelerated the development of the comprehensive utilization industry for radioactive associated resources, strengthened top-level design for scientific and technological innovation, and successfully completed the company's initial public offering and listing.

TransUnion confirmed that long-time Chief Financial Officer Todd Cello will step down at the end of 2026 and appointed Malte Bernholz as Executive Vice President, Chief Strategy and Corporate Development Officer, while reaffirming its third-quarter and full-year 2026 revenue guidance. The creation of the new enterprise strategy and corporate development role, filled by a leader with extensive software and M&A experience, signals a stronger emphasis on coordinated long-term growth initiatives even as the finance leadership transitions. The company's narrative projects $6.1 billion in revenue and $880.4 million in earnings by 2029, requiring 7.8% yearly revenue growth and about a $142 million earnings increase from $738.2 million today. Some of the most optimistic analysts assume revenue could reach about US$6.9 billion and earnings around US$913.6 million by 2029, leaning heavily on AI and OneTru execution. Management's decision to reaffirm guidance alongside the CFO departure suggests no immediate disruption to capital allocation or operating priorities, though integration setbacks or platform delays remain a risk.

Albertsons Companies has appointed Cody Perdue as Interim Chief Financial Officer following Sharon McCollam's planned retirement, and added three experienced retail and technology leaders to its Board of Directors, expanding the board to 14 members. The leadership moves underscore Albertsons' emphasis on finance discipline, grocery expertise and technology modernization as it continues its transformation efforts. The company's raised US$2.0 billion share repurchase authorization and ongoing buybacks stand out given Albertsons' weak 1 year total return of about negative 29.5 percent and current net margin of just 0.08 percent. Albertsons' narrative projects $83.7 billion revenue and $621.1 million earnings by 2029, while some of the lowest analysts assume fairly flat revenue near US$82.4 billion and only about US$647.6 million of earnings by 2029. The CFO transition and expanded, tech-focused board do not change the near term focus on execution, cost control and digital profitability, but they concentrate attention on whether leadership can deliver planned efficiency and modernization gains without further pressuring thin margins.

Meta founder Mark Zuckerberg has hired away MongoDB CEO CJ Desai to help bring Meta's AI tools to businesses, the latest in a string of aggressive talent grabs that are now paying off for investors. The move came a day before a MongoDB investor day, and MongoDB's stock crashed on the news. Before the Desai poaching, Zuckerberg spent an eye-popping $14.3 billion to buy up all the employees of hot AI startup Scale AI in 2025, including well-connected wunderkind Alexandr Wang, who got about $5 billion as part of the deal. Meta's new Muse AI agent has been downloaded more than 5.1 million times so far in its short time in the market, and the company also debuted the Muse Charm, a standalone pocket device built exclusively for voice interaction with the Muse agent. Meta's stock is up 25% inside of a month, after being down double digits on the year as investors fretted about rising AI capex.

Brunswick Corporation announced that long-serving CEO and Chairman David M. Foulkes will retire on December 31, 2026, with current Navico Group President and Chief Technology Officer Aine L. Denari set to become CEO and a board member on January 1, 2027. The transition comes alongside a series of leadership changes across Navico Group, Business Acceleration, and technology roles, concentrating technology, autonomy, and shared-access expertise at the top of the company. Will Sangster will lead Navico and Karly Yuds will take over Business Acceleration, placing the leaders closest to connected electronics, AI-driven autonomy, and shared-access models in charge of the businesses tied to Brunswick's digital services, Freedom Boat Club growth, and higher technology content per boat. Brunswick's investment narrative projects $6.4 billion in revenue and $426.2 million in earnings by 2029, with a fair value estimate of $89.88, a 37% upside to its current price, while some optimistic analysts assume revenues could reach about US$7.0 billion and earnings about US$600.0 million by 2029. Investors are still cautioned that sustained softness in value boats could weigh on results.

German Chancellor Friedrich Merz is set to meet the two frontrunners to succeed European Central Bank President Christine Lagarde, as discussions over the central bank's future leadership accelerate. Spain's Pablo Hernández de Cos and the Netherlands' Klaas Knot will each meet Merz to discuss their candidacies, with Knot's meeting expected in the coming days and de Cos set to meet the German leader within the next few weeks. The meetings point to growing activity behind the scenes as European leaders consider several impending vacancies at the ECB: Lagarde said this week she would not rule out leaving a few months before her term expires in October 2027, Executive Board member Isabel Schnabel is due to depart in early January, and Chief Economist Philip Lane's term ends in May. Germany's position is regarded as important in negotiations, and the planned meetings indicate Berlin is no longer considering Bundesbank President Joachim Nagel for the ECB presidency. De Cos, a former Bank of Spain governor, is currently general manager of the Bank for International Settlements, while Knot previously headed the Dutch central bank; both received public backing from their respective national leaders last week.

Paramount Skydance has appointed longtime media executive Ynon Kreiz as Co-Chief Executive Officer and board member, with David Ellison remaining the principal executive officer and Chairman. The move lands days before the planned closing of the Warner Bros. Discovery acquisition and follows a multi billion dollar secured debt raise, setting up Kreiz to run day to day operations while Ellison concentrates on creative direction and capital allocation. The leadership shift comes as the stock has posted a 30 day share price return of down 13.4% and a 1 year total shareholder return of down 49.3%, with a roughly US$52b debt package reshaping the risk profile ahead of the Warner Bros. Discovery deal closing. Paramount Skydance now trades near US$9.50, and on the most followed narrative it screens modestly cheap with a fair value estimate of about $9.81. The company is pursuing global scaling of Paramount+ through premium content, sports such as UFC and Zuffa Boxing and South Park, and year round programming, alongside consolidation of Paramount+, Pluto and BET+ onto a single tech platform and an Oracle Fusion enterprise rollout aimed at reducing run rate costs toward the US$3b efficiency target.

CoreCivic, Inc. announced in late September 2026 that Patrick D. Swindle resigned as Chief Executive Officer, President, and director for health reasons, with long-time executive Lucibeth N. Mayberry appointed as the company's new President, Chief Executive Officer, and Board member. Mayberry moves up from Chief Strategy Officer after more than two decades in diverse leadership roles at CoreCivic, a change the company frames as internal continuity rather than disruption. The transition follows raised 2026 net income and EPS guidance in August, which reflected financial effects from buybacks and debt actions rather than an operational reset, and it links the existing capital allocation playbook, including the enlarged US$1,200,000,000 repurchase authorization, to leadership already closely involved in CoreCivic's strategy and facility portfolio decisions. CoreCivic's narrative projects $3.4 billion revenue and $515.5 million earnings by 2029, with a $41.80 fair value implying 25% upside to the current price, while the most optimistic analysts had assumed revenue of about US$3.6 billion and earnings of about US$162 million by 2029. Investors are still watching the company's concentrated exposure to ICE and U.S. Marshals contracts.

The US Department of Justice has confirmed it will not reopen a criminal investigation into Jerome Powell, former chair of the Federal Reserve, over the Fed's headquarters renovation project, which ran several billion dollars over budget. US Attorney General Todd Blanche told Bloomberg in an interview on Friday, October 2, that the Justice Department will not reopen a criminal investigation into Powell, but did not rule out the possibility of doing so in the future, saying that an independent review of the renovation project could lead to an investigation if evidence of criminal wrongdoing is found. The move came just days after the Fed's Office of Inspector General released the findings of its review, saying there was insufficient reason to believe there was federal criminal conduct warranting referral to the attorney general, even though the inspector general found serious deficiencies in the Fed's management and oversight that contributed to the project's rising costs. President Donald Trump criticized the decision, posting on Truth Social on Wednesday, September 30, after the review findings were released, that Powell should at the very least be forced to leave the Fed's Board of Governors, saying Powell cannot manage a building and should not be allowed to set the Fed's high interest rate policy.