VietNamNet Bridge Mai Kieu Lien, who is considered the ‘soul’ of Vinamilk, the nation’s leading dairy producer, has officially resigned as chair of the board of directors, though Vinamilk shareholders vowed to veto the dismissal. 

 

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Mai Kieu Lien is a famous businesswoman not only in Vietnam, but also well known in Asia and the world. CNBC newswire calls Lien ‘Dairy Queen’ and the Vietnamese Margaret Thatcher because the iron woman deserves credit for turning Vinamilk into a strong brand.  

Meanwhile, Forbes listed Lien as one of the 50 most influential businesswomen in Asia.

In fact, the news about Lien’s resignation first appeared in local newspapers three months ago. Opinions from well-informed circles then said that Lien was about to get retired, therefore, she would not be able to represent SCIC (the State Capital Investment Corporation), the biggest shareholder, in Vinamilk.

Those who participated at this year’s Vinamilk shareholders’ meeting held in May could see how Vinamilk shareholders were ready for a fight against any decisions which might affect Lien, who was then chair and CEO.

Vinamilk shareholders are afraid of a Vinamilk without Mai Kieu Lien, who has been working for the company since 1976.

However, they now can sigh with relief because Lien, though having resigned from the post of the chair of the board of directors, is still a member of the board of directors and CEO of the company.

Le Thi Bang Tam, who is now chair of HDBank, has been elected as the new chair of Vinamilk.

With the pretax profit of $359 million in 2014 and 51 percent of the domestic dairy domestic market, Vinamilk has become one of the most famous brands in Vietnam, according to Nielsen. The company is now valued at $5.6 billion.

Vinamilk products have been exported to 23 countries. The company hopes to obtain turnover of $3 billion by 2017.

The great success of Vinamilk gained under Lien’s reign has put Tam under pressure as the new chair.

However, the Vinamilk successor also has an impressive profile. Tam has been the independent member of the board of directors since April 2013.

Tam, 68, obtained a doctorate in finance & credit in the former Soviet Union. She also has a North London University international finance certificate.

Tam has held many important posts in the finance & banking sector. She was once general director of the State Treasury, Deputy Minister of Finance and Chair of the State Capital Investment Corporation.

While working at the State Treasury and the Ministry of Finance, Tam headed major programs in the fields of monetary management, insurance, securities and external finance.

Dat Viet