At Vinamilk, the average salary that Ms. Mai Kieu Lien will receive in 2024 as General Director is 457 million VND/month. In addition, the U80 businesswoman will also receive 1.95 billion VND as a member of the Board of Directors.
Ms. Mai Kieu Lien is one of the Snake-year businesswomen - Photo: QUANG DINH
The newly released consolidated financial report for the fourth quarter of 2024 of Vietnam Dairy Products Joint Stock Company - Vinamilk (VNM) clearly shows the remuneration and salaries of key management members in 2024.
According to last year's report, Ms. Mai Kieu Lien - General Director of VNM - received an average salary of 457 million VND/month, higher than the 404 million VND in 2023.
Ms. Lien's salary is also 63% higher than the VND280 million per month that Vinamilk executives received last year.
In addition, Ms. Mai Kieu Lien will receive a salary of up to 1.95 billion VND in 2024 as a member of the Board of Directors (BOD). In total, Ms. Lien receives nearly 7.5 billion VND a year.
In the Board of Directors, Mr. Nguyen Hanh Phuc - Chairman of Vinamilk - received the highest salary of 3.36 billion VND in 2024, equivalent to 280 million VND per month.
Next, Mr. Michael Chye Hin Fah, Mr. Alain Xavier Cany and Mr. Hoang Ngoc Thach - three other members of the Board of Directors - all received remuneration of more than 2.5 billion VND.
The remaining members of the Board of Directors, including Mr. Lee Meng Tat, Ms. Dang Thi Thu Ha and Mr. Do Le Hung, each received a salary of nearly VND 2.3 billion.
In the Board of Directors, except for Mr. Phuc whose salary increased compared to last year, most of the remaining members' salaries remained the same or decreased.
In terms of business results, 2024 continues to be a year of growth for Vinamilk. According to the report, the revenue of the largest dairy company in Vietnam last year reached 61,823 billion VND, a slight increase of 2% compared to the previous year.
Vinamilk's after-tax profit reached VND9,452 billion, up nearly 5%.
According to SSI Research, VNM's after-tax profit in the fourth quarter of 2024 alone decreased by 9% year-on-year due to lower revenue and lower gross profit margin. Gross profit margin decreased by 112 basis points year-on-year to 40.1% due to high raw material costs at the end of the year.
The company shared that it will have to closely monitor fluctuations in raw material costs in the coming time to ensure that gross profit margins do not decrease further, SSI Research said.
Data showed that VNM's net profit margin decreased from 15.1% in Q4-2023 to 13.9% in Q4-2024, partly offset by lower selling and administrative expenses (SG&A).
In addition, Vinamilk's VNM stock price has tended to adjust since the beginning of the year, going from 63,100 VND/share to 60,700 VND at the end of the trading session on February 13.
VNM is also among the stocks that have been sold the most by foreign investors since the beginning of the year, after FPT and VIC.
Vinamilk's female general
Ms. Mai Kieu Lien (born in 1953), General Director of Vinamilk, is a businesswoman born in the year of the Snake. She was Chairwoman of Vinamilk's Board of Directors from 2003 to 2015, and has continued to be a member of the Board of Directors until now.
Since 1992, Ms. Lien has had more than 30 years of experience as the General Director of Vinamilk. Vinamilk CEO has also been voted by Forbes 4 times as one of the 50 most powerful businesswomen in Asia (2012 - 2015).
At Vinamilk, Ms. Lien owns more than 6.4 million VNM shares, equivalent to nearly 400 billion VND at the end of 2024. Under the leadership of this "female general", Vinamilk is ranked by many organizations as the dairy company with the largest market share in Vietnam.
In addition, Ms. Lien also holds the position of chairwoman of many other companies such as Vietnam Dairy Cow One Member Co., Ltd., Thong Nhat Thanh Hoa Dairy Cow One Member Co., Ltd. or Lao Jagro Development Xiengkhouang Co, Ltd.
Source: https://tuoitre.vn/nu-tong-giam-doc-mai-kieu-lien-cua-vinamilk-nhan-luong-gan-nua-ti-moi-thang-20250213180637323.htm
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