The U90 female president of a company in Ho Chi Minh City has a huge income, far surpassing many bank bosses.

Ms. Nguyen Bach Tuyet - Chairwoman of Vietnam Disinfection Joint Stock Company - received a salary of more than 7.72 billion VND last year. This figure does not include the bonus of tens of billions that Ms. Tuyet received in the first quarter alone.

thu nhập - Ảnh 1. — Business growth and high profits are important bases for businesses to increase income for leaders and other staff - Photo: QUANG DINH

Vietnam Fumigation Joint Stock Company (VFG) has just announced its audited consolidated financial statements for 2024.

Compared with the self-made report, VFG's net revenue after auditing remained at VND 3,497 billion, up 7% compared to 2023. Profit after tax also remained at more than VND 470 billion, up nearly 60% compared to the previous year's results.

In the audit report, VFG also transparently detailed the income and remuneration of the board of directors, general director and other management personnel in 2024.

Accordingly, Ms. Nguyen Bach Tuyet - Chairwoman of the Board of Directors and Deputy General Director - received a salary of 7.72 billion VND last year, an increase of more than 10% compared to 2023 in the context of the company's more effective business.

It should be noted that the above figure does not include the bonus Ms. Tuyet received in the first quarter of 2024. VFG has paid the bonus fund from previous years instead of the program "Issuing shares under the employee stock option program (ESOP) for the period 2023 - 2025" to the executive board with a total amount of nearly 51 billion VND in the first quarter of 2024.

The bonus amount was accounted for independently by VFG, not included in the approved remuneration received by the leaders. This is the reason why Ms. Tuyet's income for the whole year last year decreased significantly compared to the announcement in the first quarter of 2024.

Specifically, in the first quarter of 2024, the report showed that Ms. Tuyet received an income of 22.35 billion VND, 4.5 times higher than the same period in 2023, equivalent to 7.45 billion VND/month.

The above figure is much higher than the chairman of a bank who is statistically the highest earner in the entire system in 2023 (8.6 billion VND/year).

In 2024, the chairman of VPBank will only receive a salary of 3.36 billion VND for the whole year, or the chairman of Vietcombank will receive 1.6 billion VND.

The sudden remuneration of VFG's leaders was immediately questioned by shareholders at the 2024 annual general meeting of shareholders.

Explaining, Ms. Tuyet said that the allocation of salary and bonus funds to employees instead of ESOP shares was carried out in accordance with regulations decided by the board of directors.

Accordingly, there is a reasonable allocation for key staff based on their ability to contribute, dedicate and be effective.

In addition, according to VFG leaders, there is also a salary fund based on business performance that has been approved by the Board of Directors but has not been fully paid in the 2023 fiscal year. This amount will only be fully paid before March 31, 2024 according to regulations on corporate income tax.

The company also changed its reward policy for key staff and employees, no longer applying the ESOP stock reward policy as before, but replacing it with a bonus fund based on annual business results.

It is known that Ms. Tuyet was born in 1942 and has held the highest position in the enterprise since 2009. The 2023 annual report shows that the number of shares Ms. Tuyet holds at VFG by the end of 2023 is 565,068 shares, accounting for 1.35% of charter capital.

How are the other leaders' incomes at VFG?

Returning to the VFG leadership income table, not only Ms. Tuyet, most of them received higher income in the context of business prosperity.

Of which, Mr. Truong Cong Cu - member of the Board of Directors and General Director of the company - received an income of 7.83 billion VND in 2024, excluding the large bonus to be shared.

Mr. Tran Van Dung - member of the Board of Directors and Deputy General Director of VFG - received 6.4 billion VND in remuneration for the whole year of 2024, higher than the 5.63 billion VND in 2023. Mr. Mai Tuan Anh - member of the Board of Directors - received 1.36 billion VND, 2.7 times higher.

Ms. Pham Thi Ngoc Phuong - chief accountant - received 1.68 billion VND, a slight decrease compared to nearly 1.8 billion VND last year, but this is still a high level compared to many other companies on the stock exchange.

Regarding VFG, this company was formerly a state-owned enterprise under the Ministry of Agriculture and Rural Development, then equitized in 2001.

VFG's headquarters is in District 1, Ho Chi Minh City. At the end of 2024, the company had 1,539 employees, an increase of nearly 150 people after one year.

Source: https://tuoitre.vn/nu-chu-tich-u90-tai-mot-cong-ty-o-tp-hcm-thu-nhap-khung-bo-xa-nhieu-sep-ngan-hang-20250327181202631.htm