Srettha Thavisin, a football player who became an influential businessman, is becoming the Prime Minister of Thailand.

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Thai lawmakers on Tuesday approved businessman Srettha Thavisin as the new Prime Minister of the country. Srettha Thavisin's confirmation as the 30th Prime Minister of Thailand came as a surprising turn of events, as he rapidly transitioned from the boardroom to the pinnacle of political power.

Having headed one of the largest construction companies in the country

61-year-old Sretta swapped his business suit for casual clothes for the elections when the Pheu Thai Party named him one of the three candidates for the top position. He is held in high regard by the influential business community in Thailand, and there are hopes that he will be able to revive the struggling economy after a decade of stagnation with the support of military governments.

Srettha studied in the United States and began his political career after amassing great wealth.

Having taken the helm of one of Thailand's largest construction companies, Sansiri, he actively supported the younger generation of Thais in his political campaign ahead of the May elections, advocating for reforms in education, LGBT rights, environmental protection, and measures to address deep social inequality in Thailand.

Srettha has also established himself as an entrepreneur, investing in various projects in the hospitality, technology, and lifestyle sectors. His connections with young and trendy brands have allowed him to capture the attention of the younger generation in Thailand. However, his relatively recent entry into politics creates challenges for Srettha in implementing his political will within the Pheu Thai Party, which is still viewed as a tool of the Shinawatra clan.

This fact weakens his position.

Since he lacks direct influence within the party, his success will depend on whether he can gather support from his supporters.

Analyst Titinan Pongsudhirak noted that the Pheu Thai Party has its own "old contacts" and its own agenda, and Srettha's success will depend on whether he can mobilize his own support.

The possibility of Srettha becoming prime minister arose after the senators appointed by the junta rejected Pita Limjaroenrat, whose "Move Forward" party won the majority of seats in May. Pita's promises to reform the laws on royal defamation and tackle business monopolies alarmed Thailand's conservative elite. The Pheu Thai party then formed a new coalition without the MFP party, allying with army-backed parties. In this context, the rational businessman in the form of Srettha turned out to be more acceptable to the established order.

The Thai stock exchange reacted positively to his election, with the index rising by almost 20 points, and Sansiri's shares increasing by nearly 7.5 percent.