SAVICO announces leadership changes at shareholders' extraordinary meeting
  • | | December 16, 2022 11:30 AM

Saigon General Corporation (Savico) has just announced upcoming changes to the leadership of its Board of Directors at an extraordinary general meeting of shareholders.

Overview of Savico General Meeting of shareholders to annouce board leadership change on 15th December 2022

The new appointments strengthen the company’s commitment to excellence and set the stage for the next stage of sustainable growth for the 2021-2025 period. At the extraordinary general meeting of shareholders, four directors, Le Tuan, Nguyen Hoang Giang, Nguyen Huy Tuan, and Tran Van Hieu announced their intention to retire. And four new directors were appointed, including Tran Thi Hong Bich, Tran Duc Huy, Do Quoc Tuyen, and Ho Viet Ha, of whom Ho Viet Ha and Tran Duc Huy are independent directors. They are expected to enhance corporate governance capabilities and guide the company on its long-term roadmap.

With the leadership changes, the Board of Directors of Saigon General Service Corporation is composed of nine members with Mai Viet Ha serving as Chairman.

In 2022, thanks to the strong growth of the automotive market in Vietnam and good business strategy, Savico achieved impressive business results. Car sales are expected to reach 42,572 units, up by 39 percent compared to the previous year. Consolidated revenue is expected to reach VND20,998 billion, exceeding 21 percent of the original target and up 48 percent from 2021.

In addition, combined revenue of all subsidiaries and associates’ companies is expected to reach VND34,000 billion. Consolidated pre-tax profit is estimated to reach VND633 billion, exceeding 147 percent of the original target and achieving 152 percent growth compared to the same period last year.

With the anticipated successful 2022 results, Savico plans to set ambitious targets for breakthrough development in 2023 and the next five years with a plan to establish and implement a comprehensive automotive ecosystem, continue to expand the extensive dealership network, invest in used car and electric car market, bring new car brands to Vietnam, and focus on training and developing more advanced human resources to maintain the company’s position as the leading automotive distributor and premium service provider in Vietnam.

The current members of the Board of Directors with extensive experience in the automotive industry have guided Savico to achieve the pole position in the Vietnamese automotive market. The new members of the Board of Directors with corporate governance expertise, international and automotive industry experience will provide the company with competitive advantages to achieve growth targets in the next period of corporate development.

Profile of the four new directors of Savico:

1. Ms. Tran Thi Hong Bich

Ms. Tran Thi Hong Bich, born in 1972 in Hanoi, has more than 25 years of work experience at the forefront of automotive distribution, transportation, security, satellite communications and data transformation. She established her credentials in the automotive industry by developing Toyota Lang Ha into the top dealership for Toyota Vietnam and Toyota Tsusho in the world with the implementation of the first ERP management system for car dealerships. She also served as Business Development Director of Thales Group and President of KFC Vietnam. Before becoming the CEO of SVC Holdings, Mrs. Bich also held the role as CEO of Vinfast Europe and Deputy CEO of Vinfast. She also earned an MBA degree at Henley Business School in the United Kingdom.

2. Mr. Tran Duc Huy

Mr. Tran Duc Huy, born in 1974 in Ho Chi Minh City, was elected as an independent board member of Saigon General Service Corporation for the 2020–2025 period. He held important positions in domestic and international corporations. Mr. Huy was General Director of Saint-Gobain Vietnam – a world-class corporation in manufacturing and distributing building materials solutions. Before that, Mr. Huy was the CEO of Vinh Tuong Industrial Company. His extensive management experience and knowledge is recognized by leading training organizations including the GMP Senior Leadership Program of Harvard Business School, the Senior Leadership training program of the Anderson Business School (UCLA), the MIT Sloan School of Business, and as Certification of Business Administration Trainer (Corporate Governance Trainer) for the IFC (World Bank). Mr. Huy has made great contributions in improving corporate governance efficiency to the highest level through modern and practical management tools for companies. Mr. Huy is also a Lifetime Alumni of Harvard Business School and has earned an MBA in Maastricht School of Management (MSM Netherland). Mr. Huy is currently the Chairman of CMC Joint Stock Company and Vice Chairman of Tasco Joint Stock Company.

3. Mr. Ho Viet Ha

Mr. Ho Viet Ha, born in 1976 in Hanoi, was appointed as an independent member of Board of Director of Saigon General Service Corporation for the 2020–2025 period. Mr. Ha has over 20 years of experience holding senior executive positions at many leading national and international organizations. Mr. Ha is currently the CEO of Tasco Joint Stock Company, Chairman of Bac Au Automotive Joint Stock Company, a distributor for the Volvo luxury car brand. In addition, he served as the Director of Audit for KPMG Vietnam, CEO and Board Member in the field of high-end tourism development service, Chairman of the board of director in the field of water infrastructure.

4. Mr. Do Quoc Tuyen

Mr. Do Quoc Tuyen, born in 1982 in Phu Tho, has extensive experience in the automotive industry. Mr. Tuyen is currently the Chairman of SVC Holdings Joint Stock Company, board member and general director of Savico Da Nang Joint Stock Company, board member of Dana Joint Stock Company (Dana Ford), board member of Son Tra Automotive Company Limited, and board member of MTV Gia Lai Automotive Company Limited.

Members of Savico 's Board of Directors and Board of Management pose for a photo at the event

These leadership appointments are part of a rigorous and comprehensive nomination and board member ratification process that occurs every four years.

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