Thapanee Techajareonvikul, took the reins as CEO and President of Berli Jucker PCL in 2023, becoming the storied retail and packaging firm’s first female chief executive.
For Thapanee Techajareonvikul, the conviction that women belong in top leadership roles was never unusual.
Her late mother, Wanna Sirivadhanabhakdi, was instrumental in building TCC Group into a multi-billion-dollar empire spanning beverages, property, retail and manufacturing, with holdings including Chang beer and Singapore-listed Fraser & Neave.
Charoen Sirivadhanabhakdi, her father, ensured his two sons and three daughters received equal opportunities within the family business. Today, each sibling oversees 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 storied retail and packaging firm’s first female chief executive.
The company’s portfolio includes Big C, Thailand’s second-largest hypermarket chain, with operations in Vietnam, Cambodia, Laos, and Hong Kong.
“When I became a female leader, I didn’t feel any nervousness,” she said during a special recording of CNBC Meets: Legacies, held at a UOB private banking event in Singapore.
“I always saw Mom right there with Dad, at the front of the long table,” the MIT and Harvard Business School graduate told CNBC’s Tania Bryer.
Lessons from her parents
Thapanee and her siblings grew up observing their parents in action, often accompanying them to business meetings. Watching how they reached decisions and navigated relationships became what she described as the “greatest teaching” a person could receive.
Both parents emphasized hard work and humility as keys to unlocking opportunity. They were also diligent about ensuring every venture benefited all stakeholders.
“Dad was always looking at partnerships; he wanted a win-win situation for everyone involved,” she said.
Her mother played a balancing role, providing a vital counterweight to her father’s risk-taking as he rarely proceeded without his wife’s blessing.
From left to right: Thapanee Techajareonvikul, Wanna Sirivadhanabhakdi, Charoen Sirivadhanabhakdi and Aswin Techajareonvikul. Thapanee and her siblings grew up observing their parents in action, often accompanying them to business meetings.
While TCC is a sprawling conglomerate, Thapanee said the group’s expansion through mergers and acquisitions has long been driven by strategic fit.
She cited the group’s acquisition of Berli Jucker in 2001 primarily for its glass bottle manufacturing, which complemented its beer and spirits businesses.
The group’s liquor assets have since been consolidated under Singapore-listed Thai Beverage PCL, led by her older brother Thapana, who also heads the Sirivadhanabhakdi family’s second generation.
The vast property portfolio is divided across several units. Her second sister Wallapa Traisorat leads Asset World Corp PLC in Thailand while her younger brother Panote Sirivadhanabhakdi, helms Singapore-listed Frasers Property.
Atinant Bijananda, the eldest sibling, serves as vice chairman of the executive board of Thai Group Holdings, an investment holding company under the TCC group.
Thapanee Techajareonvikul and her four siblings. Charoen Sirivadhanabhakdi, her father, ensured his two sons and three daughters received equal opportunities within the family business. Today, each sibling oversees a different part of the empire.
Forbes estimates the Sirivadhanabhakdi family’s wealth at $10.5 billion, ranking them fourth on Thailand’s latest rich list.
For Thapanee, her parents remain the ultimate role models for spouses working in family businesses.
“My Mom and Dad were always telling guests and friends that they have never been apart, day or night, for 51 years continuously,” she said. “So they are true partners in life and in business.”
Management style
Asked about her management approach, Thapanee said she is influenced by her parents’ emphasis on listening, respect and fostering a sense of belonging among their employees.
“I want to make the family business very professional, but the professional organization must also feel family-related,” she said of Berli Jucker, which employs some 61,000 people. Notably, women account for about 60% of employees and roughly half of senior management.
She works closely with her husband, Aswin Techajareonvikul, the former head of Berli Jucker. He currently leads Big C as it prepares for a public listing and serves as executive vice chairman of Berli Jucker’s management board.
Thapanee Techajareonvikul (left) with her husband, Aswin Techajareonvikul (right), the former head of Berli Jucker. Aswin currently leads Big C as it prepares for a public listing and serves as executive vice chairman of Berli Jucker’s management board.
Among the company’s near-term priorities are integrating and expanding MM Mega Market, a Vietnamese wholesale distributor of consumer goods recently acquired from TCC for around $720 million, and expanding the use of artificial intelligence.
Thapanee said that AI is already being used to optimize delivery schedules and reduce energy consumption at the group’s manufacturing plants.
The next generation
Despite their busy schedules running their respective businesses, Thapanee and her siblings meet regularly for family gatherings.
In the past, the meetings were mostly social, but that changed after their father transferred shares in the TCC group’s holding company to his five children last year. The siblings now meet regularly to discuss matters related to the conglomerate.
While she and her 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 greater freedom to chart their own paths.
Thapanee Techajareonvikul with her husband, Aswin Techajareonvikul, the former head of Berli Jucker. Aswin currently leads Big C as it prepares for a public listing and serves as executive vice chairman of Berli Jucker’s management board.
One of her three children was in the audience during the interview as Thapanee spoke about the family’s future
“We will involve them (in the business) along the way, and they will get to choose what is best fitted for their expertise or preference going forward,” she said.
Some members of the third generation have already begun identifying areas of interest. One nephew, who is in graduate school, has expressed interest in the family’s property business.
As more family members get involved in the business, Thapanee said the family’s shared values and sense of unity will help preserve the TCC Group for future generations.
