The chairman and founder of stock-listed seafood conglomerate Thai Union has resigned from the group, along with another top executive.

The Thailand Securities and Exchange Commission (SEC) said earlier this month that Kraisorn Chansiri, founder of the $4 billion (€3.6 billion) group, illegally purchased shares in late 2017 based on insider information about the group's third-quarter earnings, which rose sharply from the second quarter and the third quarter the prior year.

In addition to Chansiri, Chuan Tangchansiri, a director at the group, also resigned.