Ms. Nguyen Thi Xuan Lieu takes the helm from September 14.
The Vietnam Vegetable Oils Industry Corporation (Vocarimex) announced the appointment of Ms. Nguyen Thi Xuan Lieu, a member of its Board of Management, to the position of CEO on September 14.
The company is seeking to change to a stronger business strategy and improve its management capacity to take advantage of its potential for development. The appointment takes effect immediately.
Ms. Lieu was elected to the Board of Management at Vocarimex’s annual general meeting in November 2014. She has more than 30 years experience in banking and finance, holding key positions at the Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) from 1996 to 2013.
Since 2014 she has held the position of Deputy Director General in charge of the vegetable oil business at the KIDO Corporation. With experience and ability in strategic implementation, Ms. Lieu will be able to effectively implement business strategies and contribute positively to the development of Vocarimex.
Vocarimex plays an important role in Vietnam’s oil market. It previously sold 24 per cent of its share to KIDO Corporation. According to its financial statements, after-tax profit for the last three years has been from VND18 billion ($729,000) to VND50 billion ($2.2 million) and return on equity (ROE) around 2 to 5 per cent.