Vietnam’s State-owned Corp Hunts for Foreign CEO

Three candidates from Japan, Poland and South Korea have applied for the post of CEO of the Vietnamese state-owned shipbuilding corporation Vinashin, local Sai Gon Giai Phong newspaper reported Wednesday.

The paper quoted an inside source as saying that all the candidates were well qualified and experienced for the job. They were all running shipbuilding enterprises of the same scope as Vinashin, the source said.

Vinashin thus became the first state-owned corporation to test-run the model of board of directors hiring CEO in Vietnam under a decision signed by a Vietnamese deputy prime minister recently.

Some 100 other corporations have also decided to test the waters of hiring a foreign CEO, based on Vinashin results, Sai Gon Giai Phong said.

According to the pilot project, the CEO would be extended a three-year contract, with a minimum monthly salary of US$3,500. He would also receive shares of the company’s profit.

(Source: SGGP)
Story from Thanh Nien News
Published: 12 October, 2005, 13:28:43 (GMT+7)
Copyright Thanh Nien News