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General meeting of shareholders of GTNFOODS JSC

19/02/2020 15:19:29 PM
Vietnam Dairy Products Joint Stock Company ("Vinamilk” or "The Company”) has announced the official completion of transferring the management and administration rights at GTNFoods JSC ("GTN”).
According to the results of the General Meeting of Shareholders of GTN, the Board of Directors ("BOD”), the Board of Supervisors ("BOS”) for the new term of 2020-2024 include the following members:

Member of the BOD

  • Ms. Mai Kieu Lien - Chairwoman of the BOD
  • Mr. Le Thanh Liem - Member
  • Mr. Trinh Quoc Dung - Member
  • Mr. Nghiem Van Thang - Member
  • Mr. Do Le Hung - Member
Member of Supervisory Board

  • Ms. Ha Thi Dieu Thu - Head of the BOS
  • Ms. Cao Thi Hong - Member
  • Ms. Nguyen Duc Dieu Tho - Member
Participating in the BOD are Vinamilk’s senior personnel, including: Ms. Mai Kieu Lien (Member of the BOD, Chief Executive Director), Mr. Le Thanh Liem (Member of the BOD, Executive Director of Finance cum Chief Accountant), Mr. Trinh Quoc Dung (Executive Director of Dairy Development). Before joining the BOD at GTN, Mr. Dung was appointed General Director of GTN on December 25, 2019.

Participating in the BOS are Vinamilk’s management personnel, including: Ms. Ha Thi Dieu Thu (working at the Internal Control and Risk Management Department), Ms. Nguyen Duc Dieu Tho (working at the Accounting and Finance Department).

The remaining members include Mr. Nghiem Van Thang as a member of the BOD, was the Vice Chairman of the BOD for the term ended 2016-2019, and Mr. Do Le Hung as an independent member. The BOD elected Ms. Mai Kieu Lien as Chairwoman, Ms. Ha Thi Dieu Thu as Head of the BOS for the term 2020-2024.

Previously on Dec 25, 2019, upon the request of VNM – the major shareholder with 75% ownership, GTN has appointed the following personnel to manage GTN, effective Jan 01, 2020:

  • Mr. Trinh Quoc Dung - General Director
  • Mr. Tran Chi Son - Deputy General Director
  • Mr. Le Huy Bich - Finance Director

GTN has the advantage in producing natural food thanks to the sustainable and integrated agriculture value chain, especially raw milk sourced from Moc Chau Dairy Cattle Breeding JSC ("Moc Chau Milk”) and tea from Vietnam Tea Corporation (Vinatea). These will allow Vinamilk to gradually enhance supply chain performance in order to meet production needs that serve the increasing domestic and export demands.

Specifically, becoming the controlling shareholder of GTN and indirectly participating in managing Moc Chau Milk will enable Vinamilk to make a bold move in developing international standard dairy farming and resources. The strategy to transform Moc Chau - Son La into a high-tech dairy capital of Vietnam will not only help Vinamilk and Moc Chau Milk leverage their strengths and experiences, but also increase the competitiveness of Vietnamese dairy brands and take Vietnam’s dairy industry closer to the development of the global dairy industry.

This M&A deal is considered to be the largest and most successful in Vietnam’s dairy industry in 2019. Besides, this is also the shortest-time record in completing the management and administration transfer process, while gaining the absolute agreement of the involved parties.

Besides holding 74.49% shares of Vilico (the parent company that holds 51% of Moc Chau Milk), GTN also holds a 20% stake in Vinatea. In the coming time, Vinamilk plans to coordinate with Vinatea, regarding management in particularly to formulate a strategy that will lead Vinatea to become the national tea brand in both domestic and regional markets. Furthermore, GTN owns more than 38% of the shares in Ladofoods that founded Da Lat wine. Famously known for its quality and rich heritage, this brand also has a great potential for further development as the consumption habit for wine has become increasingly popular in Vietnam./.

ABOUT VINAMILK

Vinamilk is the leading nutrition company in Vietnam and currently in the Top 50 largest dairy companies in the world. With the mission of becoming an international brand in food and beverages sector and a trusted brand for Vietnamese consumers about nutritional and health products, we are committed to bring to the community high quality products with our respect, love and responsibility for life and society.
Visit the website to know more about us https://www.vinamilk.com.vn/

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