Financial market is getting hot with information related to senior banking personnel in this year’s annual general meeting (AGM) season.
At the AGM on April 26, Kienlongbank will elect the Board of directors, Control Board for the new term. Interestingly, Vo Quoc Thang, Chair of Kienlongbank is not on the list of candidates for the new term board.
Meanwhile, Eximbank plans to organise the AGM on April 27. With the current four candidates, shareholders will select the two most entrusted members for the Board of directors at this AGM.
According to a reliable source, in this AGM season, Eximbank’s senior personnel will continue fluctuating strongly.
In fact, Eximbank’s senior personnel issue has been hot since 2015 and so far, there are still no signs of real stability. Earlier, Eximbank experienced many unsuccessful AGM because of failing to seek for consensus of major shareholders in the selection of candidates for the Board.
On April 20, Sacombank’s AGM approved the resignation of board member position in accordance with individual aspiration of Kieu Huu Dung and additionally elected Nguyen Duc Thach Diem, CEO as the board member for the term 2017-2021, and Nguyen Van Huynh as independent board member for the term 2017-2021.
Meanwhile, LienVietPostBank’s AGM changed the Board of directors and Control Board for the new term 2018-2023. The new Chair of this bank is Nguyen Dinh Thang former deputy Chair. Earlier, the former Chair of LienVietPostBank Nguyen Duc Huong asked to leave the “hot chair” because of health situation.
This AGM of ACB also elected the Board of directors and Control Board for the new term. The State Bank approved ACB’s election of the Board for the new term of 2018-2013 with eight candidates including Tran Hung Huy, Nguyen Thanh Long, Dominic Scriven, Dinh Thi Hoa, Dang Thu Thuy, Dam Van Tuan, Hiep Van Vo (independent board member) and Huang Yuan Chiang (independent board member).
As such, compared to the list of nominees and self-nominees announced earlier with 11 people (of which, ACB nominated 10 people and the shareholder group holding more than 10 percent stake nominated one person), the State Bank did not approve three candidates including Nguyen Van Hoa, deputy CEO of ACB; Do Minh Toan, CEO of ACB and Nguyen Duy Hung, candidate nominated by shareholder group related to the bank’s former Chair Nguyen Duc Kien.
Therefore, the shareholder group that nominated Nguyen Duy Hung opposed and asked to elect all the entire 11 candidates. Even, this shareholder group suspected that ACB did not send enough the list of 11 people to the State Bank. However, ACB affirms to have sent the full list to the State Bank.
However, according to analysts, it is not easy for Nguyen Duy Hung to enter ACB’s board of directors.
Senior personnel of the banking sector not only fluctuate in small and medium scale joint stock bank group, but also in large banks that lack of many senior positions.
Besides, as forecasted, senior personnel of the banking sector will continue shifting in the near future, because according to the regulation of the Law on credit organisations, Chair, Board member and CEO of credit organisations are not allowed to hold the same position in another business. Therefore, a series of bank leaders have to choose either bank or business.
This is a difficult choice for banks. However, new comers are also not easy to get in.
