CEOs earn 1 billion VND/month
Kinh Bac City Development Corporation - JSC (HOSE: KBC), chaired by Mr. Dang Thanh Tam, has just announced its audited consolidated report for the second quarter of 2024. Notably, General Director (CEO) Nguyen Thi Thu Huong had a total income of more than VND 6.4 billion in the first 6 months of 2024, equivalent to more than VND 1 billion/month.
In 2023, Ms. Nguyen Thi Thu Huong is known as the CEO with the highest income among listed companies. According to the 2023 report, Ms. Thu Huong has a total income of nearly 17 billion VND, equivalent to more than 1.4 billion VND/month. This is an outstanding figure compared to leaders in other companies, even higher than the bosses of joint stock commercial banks.
In 2023, after Ms. Thu Huong is CEO of Masan Group Danny Le with a total income of 14.7 billion VND, equivalent to nearly 1.23 billion VND/month.
Ms. Nguyen Thu Hang, CEO of Vinhomes (VHM), has a total income of nearly 13.9 billion VND in 2023, equivalent to nearly 1.16 billion VND/month.
Nam Long (NLG) General Director Tran Xuan Ngoc has an income of nearly 12.9 billion VND in 2023, equivalent to more than 1 billion VND/month.
Vingroup (VIC) CEO Nguyen Viet Quang earned VND11.1 billion in 2023, while former Vincom Retail (VRE) CEO Tran Mai Hoa (as of October 11, 2023) earned nearly VND10.3 billion. Ms. Pham Thi Thu Hien then replaced Ms. Hoa as VRE CEO.
On the other hand, many CEOs have very meager incomes from steering listed businesses.
Former CEO of Quoc Cuong Gia Lai (QCG) Nguyen Thi Nhu Loan has a total income of 132 million VND in 2023, equivalent to 11 million VND/month. Many positions of members of the Board of Directors and Supervisory Board at QCG have very low income, from 15-30 million VND in 2023, equivalent to 1.25-2.5 million VND/month.
Despite working under pressure and receiving low wages, Ms. Loan is one of the individuals who has used a lot of her own money to lend to QCG over the years. Ms. Nguyen Thi Nhu Loan was prosecuted on July 19 in connection with violations in a real estate project. On July 23, Mr. Nguyen Quoc Cuong (Cuong Do La) took the hot seat as QCG's general director to replace his mother.
Over the past decade, QCG has had many scandals, not only related to the projects this enterprise has implemented, but also many violations related to information disclosure. Poor business results. QCG is a volatile stock, increasing sharply and decreasing deeply 5-7 times in a short period of time.
Which industry president has the highest income?
In the position of Chairman of the Board of Directors, the person with the highest income among listed companies is Ms. Cao Thi Ngoc Dung (Chairwoman of the Board of Directors of PNJ) with 8.8 billion VND in 2023, equivalent to more than 730 million VND/month.
Sacombank (STB) Chairman Duong Cong Minh has an income of VND8.6 billion in 2023. SSI Securities Chairman Nguyen Duy Hung has a salary of VND7 billion. Meanwhile, the chairmen of Vinhomes, TPBank (TPB) and SeABank (SSB) have corresponding incomes in 2023 of VND6.4 billion, VND6.2 billion and VND6 billion, respectively.
In a report recently published by FiinGroup and FiinRatings, the average income of CEOs of 200 public companies (representing 85.6% of the total capitalization value on the 3 exchanges at the end of 2023) reached VND 2.5 billion/year/person in 2023.
Of these, real estate, financial services (mainly securities companies) and insurance are the industries with the highest average income for the position of general director.
By type of enterprise, the average income of CEOs at state-owned enterprises is significantly lower than that of private enterprises, although their operating efficiency is quite similar.
Besides KBC, MSN, VHM, NLG, VIC and VRE, the general directors of some other high-salary enterprises include: HCM, CTD, VND, NAB, MCH, PNJ, SSI, PDR and PVI.
The average income of the Chairman of the Board of Directors in 2023 will reach VND 1.7 billion/person. Banks and financial services (mainly securities companies) have the highest average income of the Chairman of the Board of Directors due to the specific participation of these leaders in management. The correlation between income and performance is clearer when considering the scale of capitalization.
Meanwhile, the income of independent members of the Board of Directors has a large difference between industries, the highest is in the personal and banking industries, but the average income is still symbolic in many businesses. In terms of capitalization, the average income of independent members of the Board of Directors will improve sharply in the small-cap group in 2023 and decrease slightly in the mid-cap group.
Source: https://vietnamnet.vn/ceo-bat-dong-san-kbc-thu-nhap-gan-17-ty-nam-gap-doi-chu-tich-sacombank-2318504.html
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