Former Secretary General of the National Assembly running for Vinamilk’s Board of Directors

Vietnam Dairy Products Joint Stock Company (Vinamilk) has just announced a list of 10 candidates for the Board of Directors for the term 2022-2026 to submit to the annual general meeting of shareholders at the end of this month.

The list of candidates includes 9 people who were members of the Board of Directors in the previous term, in which some represent major shareholders such as SCIC, Platinum Victory, F&N Dairy Investment.

The only change in the list of candidates for the new term compared to the current Board of Directors is that Chairman Le Thi Bang Tam (born in 1947) does not stand for election. Instead, the company introduced an independent candidate, Mr. Nguyen Hanh Phuc.

According to the curriculum vitae published by Vinamilk, Mr. Phuc was born in 1959. From 8/2011 to 1/2016, he was a member of the Party Central Committee, Chairman of the National Assembly Office and Chief of the Office of the National Election Council. . From January 2016, he became the Secretary General of the National Assembly until his retirement in November 2021.

According to Vinamilk’s internal governance regulations, the maximum number of members of the Board of Directors of the company is 11 people. In which, at least 3 independent members. The company expects the total remuneration for the Board of Directors to be 25 billion dong along with other benefits such as liability insurance, health insurance and medical examination.

Vinamilk targets this year to have revenue of 64,070 billion dong and profit after tax of 9,770 billion dong, up 5% and down 8% respectively over the previous year.

Last year, the company’s profit after tax was 10,633 billion dong. The company spends VND 8,046 billion of this profit to pay dividends, equivalent to 76%. The calculated dividend rate is 38.5%, which means that shareholders owning each share will receive VND 3,850.

Eastern