Bangchak Group CEO Shares Leadership Lessons Knowing When to Change Course, When to Push Forward

Mr. Chaiwat Kovavisarach, Group Chief Executive Officer and President of Bangchak Corporation Public Company Limited, shared leadership insights during a fireside chat entitled “Leading the Great Shift: From Legacy to Innovation for a Sustainable Organization” as part of the DTX – Digital Transformation Xponential Program, Class 6, a leadership development course on digital transformation. The session was moderated by Dr. Supachai Parchariyanon, CEO and Co-founder of RISE, and Mr. Sam Tansakul, CEO and Co-founder of Capital T, at the Renaissance Bangkok Ratchaprasong Hotel.

Mr. Chaiwat emphasized that leaders in times of rapid transition must possess the agility to view their organization’s strengths and limitations with clarity and objectivity, and the boldness to make decisions at the right moment to build long-term resilience. He illustrated this through Bangchak’s own experience, having once invested in the convenience store business but choosing to withdraw with discipline upon realizing it was not aligned with the company’s core strengths. At the same time, he drew valuable lessons from the Group’s initial upstream investment experience, applying them to the successful investment in OKEA in Norway, which has since delivered robust returns.

He further stressed that modern leaders must foster a culture of learning, experimentation, and bold innovation. This is especially vital when developing products and services, which must have a distinct identity and clear differentiation. For instance, Bangchak’s Unique Design service stations offer a distinctive customer experience, positioning each station as a destination for customers of all ages. Likewise, the development of Bangchak Hi Premium 97, a premium fuel tailored for high-performance vehicles, reflected this philosophy, reflected this philosophy, with Mr. Chaiwat personally testing the product prior to and after launch to ensure it delivered genuine value in line with Bangchak’s vision.

Leadership, he emphasized, must be about continuously embracing change, fostering a culture of boldness and innovation, and enabling the organization to adapt to the ongoing energy transition. Leaders must look ahead, understand the evolving world, and empower employees at all levels to become active drivers of innovation and sustainable growth.