Vietnam's large corporations seek CEO successors

ABO/VNA - Many large corporations have introduced their new CEOs, while others plan to name new CEOs in the months ahead.
At the 2020 shareholders’ meeting, Nguyen Thi Mai Thanh, CEO of the Refrigeration Engineering Enterprise (REE), spoke about finding a new CEO to replace her. She has been in the post for 30 years.
According to Thanh, the person to be selected must meet many requirements and have experience in the fields in which REE operates, and have business skills.
Thanh admitted that she missed some good opportunities because she was sometimes indecisive. The new CEO must be young and decisive.
Since REE had failed to find such a person through head hunting companies, the management board decided to choose a person working for the enterprise for many years and sent him abroad for a 2-year training course.

Huynh Van Thon of Loc Troi (middle).

After returning from the training course, he began taking over the management work at the company. Thanh said he will present himself at an official ceremony slated for July.
Stories about finding new ‘generals’ for enterprises have been mentioned at many shareholders’ meetings this year.
Loc Troi Group some days ago said goodbye to Huynh Van Thon who held the post of president since 1995. The man selected for the post of general director is Nguyen Duy Thuan, who was finance and HR director.
Thuan is also the deputy head of the executive board of agricultural materials and food industry. The move of Loc Troi is considered a step for the business to restructure and expand its business fields.
The post of CEO of Masan Group held by Nguyen Dang Quang since its establishment, will be transferred to Danny Le, born in 1984.
Le joined Masan Group in 2010 and is now Masan’s strategy and development director, playing an important role in the group’s development strategy and M&A activities.
In documents prepared for the upcoming shareholders’ meeting, the board of management of Masan showed its development strategy for the time to come, under which Masan would make some M&A deals. This is why the 8X CEO confidently stated he will turn Masan into an ‘unicorn’ in the consumer goods manufacturing sector.
Some companies in the banking and finance sector, including VietBank, MSB and Techcombank, have also announced the appointment of young people to the posts of CEO and deputy CEO.
The news about the appointment of new CEOs has caught attention from the public, because the new CEOs will have to run businesses in the new development period, when businesses have just escaped difficulties amid the Covid-19 pandemic.

Kim Chi (Source: VNA)