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GL announces leadership reorganization and new CEO, Tatsuya will remain at GL as Deputy CEO and Director

15 Oct 2020

Mr. Tatsuya Konoshita, former Chief Executive Officer of Group Lease Public Company Limited, stated that "I am happy to inform investors that Group Lease will have a new CEO who has been leader in the GL Group in Asia for more than 8 years. As GL moves forward from litigation and focuses more on business operations, GL decided on having a more operationally focused CEO. As such, Riki Ishigami will be the new Chief Executive Officer of Group Lease Public Company Limited. Furthermore, I will remain at Group Lease as one of our Deputy CEOs and focus on investor relations. Kaname Hashimoto is also join me as a Deputy CEO and he will focus on Myanmar and Laos. All of us are already Directors of Group Lease PCL.

Riki Ishigami established GL's first subsidiary outside of Thailand, GLF in Cambodia, in 2012 and was in charge of GLF ever since. GLF was the first licensed finance company in Cambodia and started with a few employees and no dealerships. Riki drove all across Cambodia, negotiating with dealers and setting up all aspects of the business. He built and managed the business and now GLF has more than 200 dealers and has been the largest leasing company in Cambodia during these last 8 years. Riki was the pioneer of GL's 'Digital Finance' model which, after success in Cambodia, was launched in Laos and Myanmar. Riki's knowledge and operational know-how will help serve GL Group as we continue to focus more on operational results—both in Thailand and abroad.

Kaname Hashimoto, besides being a Director of GL, is already the Managing Director of three GL subsidiaries: GL-AMMK and BG Microfinance, both in Myanmar, and of GL Leasing in Laos. After successfully launching GL in Laos, Kaname expanded the GL Group to Myanmar focusing on hire purchase for motorcycles and also our newest product, microloans. Kaname will continue to focus his efforts in Myanmar and Laos as well as advise our new CEO on GL Group operations.

Mr. Riki Ishigami, current Chief Executive Officer of Group Lease Public Company Limited, said "this is a leadership reorganization—not a leadership change. Kaname, Tatsuya, and I have all been GL Directors and in key management roles at GL for many years. Due to the change in focus at GL, we have reorganized our leaders in the roles best suited for the Company and the shareholders."