Yupa Leewongcharoen is an experienced financial professional who currently serves as the Chief Financial Officer (CFO) of Thailand-based telecommunications operator True Corporation. She took on the role in March 2019, succeeding William Harris. With a strong background in finance, accounting, budgeting, risk management, and investor relations, Leewongcharoen has held various leadership roles within the True Corporation. Prior to becoming CFO, she served as CFO of the Pay TV, broadband, and mobile business group, and Deputy CFO in 2017. She also holds directorships in several True Corporation companies and is CFO of True Move H Universal Communication Company Limited.
Women’s Tabloid: You’ve been the Chief Financial Officer since March 2019, and previously held leadership roles within True Corporation. Can you walk us through your career journey at True Corporation and the most impactful experiences that led to your current position?
Yupa Leewongcharoen: My journey at True Corporation spans over a decade, starting in key financial leadership roles across different business units, including Pay TV, broadband, mobile, and online services. Each role gave me unique insights into the complexities of the telecom and digital sectors. One of the most impactful experiences was steering financial strategies during pivotal industry transitions, such as the 4G rollout and the preparation for 5G. These experiences honed my ability to manage large-scale projects while balancing innovation and financial discipline. More recently, the successful merger of True and Dtac marked a milestone in my career, as it required strategic vision, collaboration, and deep financial expertise.
WT: Having served as CFO for multiple divisions, including Pay TV, broadband, mobile, and online business groups, what are some of the key challenges you’ve faced in managing such diverse business units under one umbrella?
YL: The greatest challenge has been aligning financial strategies with the unique needs and market dynamics of each business unit. For example, Pay TV and broadband have long-term subscription-based revenue models, while mobile services are highly competitive with rapid customer churn. Balancing growth priorities, operational efficiency, and innovation while ensuring cross-business units synergies has been key. Another challenge has been fostering a unified corporate culture that encourages collaboration, especially as the pace of technological change demands agility and resilience across all segments.
WT: True Corporation operates across a variety of sectors within the telecom and digital space. How do you prioritise financial strategies for these diverse segments while ensuring overall organisational growth and stability?
YL: Prioritisation begins with a clear understanding of each segment’s strategic importance, growth potential, and market dynamics. Working closely with each division to align their financial strategies with the company’s overarching vision. This includes prioritising investments in high-growth areas like 5G and digital services while ensuring financial sustainability in more mature sectors like broadband. Additionally, a data-driven approach to resource allocation helps strike the right balance between innovation and cost control, ensuring stability while driving future growth.
WT: In your role as CFO of True Move H Universal Communication, how do you see the mobile telecom industry evolving financially, and what are the key financial trends you are watching closely?
YL: The mobile telecom industry is entering an era of transformation driven by 5G adoption, digitalisation, and the convergence of telecom and content. Financially, we are seeing increasing capital expenditure in network upgrades, but also opportunities to diversify revenue streams through partnerships, value-added services, and data monetisation. I am closely monitoring trends in ARPU (average revenue per user) growth, the shift to digital payment ecosystems, and the impact of regulatory policies on pricing and competition.
WT: You’ve worked extensively in senior financial leadership roles. What specific strategies or tools do you use to maintain financial discipline and drive profitability across True Corporation’s multiple business units?
YL: Maintaining financial discipline requires a combination of rigorous financial planning, real-time performance monitoring, and agile decision-making. At True, we leverage advanced analytics tools to track KPIs and optimise costs across business units. I also place a strong emphasis on scenario planning and forecasting to prepare for uncertainties. Collaborative budgeting processes with a focus on ROI help ensure that every investment contributes to profitability and long-term value creation.
WT: Looking back on your journey at True Corporation, what personal or professional values do you hold most dear, and how have they shaped your leadership style and decision-making?
YL: Integrity, resilience, and collaboration are values I hold most dear. Integrity ensures that every decision is guided by transparency and fairness. Resilience has been vital in navigating challenges, whether it’s market disruptions or major projects like the True-Dtac merger. Collaboration, meanwhile, has shaped my leadership style—I believe the best decisions come from leveraging diverse perspectives and fostering an environment where teams feel empowered to contribute.
WT: As the telecom and digital sectors are experiencing rapid technological advancements, how do you approach budgeting and forecasting in such a volatile and competitive market?
YL: In this fast-paced environment, flexibility is key. I take a dynamic approach to budgeting and forecasting, incorporating real-time market insights and adjusting strategies as needed. Scenario-based forecasting helps us anticipate potential outcomes and mitigate risks. We also invest in digital tools to improve forecasting accuracy and align closely with operational teams to ensure agility in decision-making.
WT: As CFO of True Corporation, you oversee a diverse range of telecom and digital services. How do you ensure overall alignment across these business segments while fostering synergy?
YL: Alignment begins with a clear strategic framework that outlines common goals across all business segments. Regular cross-functional meetings ensure that financial and operational plans are aligned. I also focus on fostering a culture of collaboration, where teams from different units work together to identify synergies—such as bundling services or sharing infrastructure. Technology plays a key role, too, as integrated systems provide visibility across all segments, enabling data-driven decisions.
WT:What role do you think financial leadership plays in fostering innovation within telecom companies, especially in areas like broadband and mobile services, and how do you integrate this into your approach?
YL: Financial leadership is pivotal in enabling innovation by ensuring that resources are allocated to the most promising opportunities. This means balancing risk with reward—investing in emerging technologies like AI and IoT while managing costs effectively. At True, I advocate for an entrepreneurial mindset in financial planning, encouraging teams to propose innovative ideas with a clear business case. I also work to create funding mechanisms that support pilot projects, enabling us to test new concepts while controlling financial exposure.
WT: Balancing such a high-level role across multiple business groups must be demanding. How do you manage your time to ensure you maintain both professional success and personal well-being?
YL: Time management is a constant learning process, but I prioritise by focusing on what matters most—whether it’s strategic decisions at work or quality time with my family. Delegation and trust in my team are essential, allowing me to focus on high-impact areas. I also make a conscious effort to maintain personal well-being through regular exercise, mindfulness practices, traveling to explore new things and staying connected with loved ones. This balance helps me bring my best self to both my professional and personal life.