Former Deputy Prime Minister of Germany is a member of the Board of Directors of Loc Troi Group
Former Deputy Prime Minister of Germany is a member of the Board of Directors of Loc Troi Group
Former Deputy Prime Minister of Germany is a member of the Board of Directors of Loc Troi Group
(VTC News) - Mr. Phillipp Roesler - former Deputy Prime Minister of Germany has just been elected as a member of the Board of Directors of Loc Troi Group.
Accordingly, the Annual General Meeting of Shareholders of Loc Troi Group Joint Stock Company (Loc Troi Group, code TLG) this morning, May 23, approved many important personnel changes in the management board.
Former Deputy Prime Minister of Germany as a member of the Board of Directors of Loc Troi Group - 1
Philipp Roesler used to hold the position of Deputy Chancellor of Germany.
Specifically, TLG dismissed two members of the Board of Directors, Mr. Nguyen Tien Tung and Mark Peacock. Replacing these positions are Ms. Nguyen Thi Am and Mr. Phillipp Roesler.
Mr. Phillipp Roesler is a German of Vietnamese descent. Mr. Rosler was born in 1973 in Soc Trang.
In 2009, he assumed the position of German Federal Minister of Health. He then became the Deputy Chancellor of Germany (from 2011-2014).
Currently, Mr. Rosler is holding the position of member of the Board of Directors of many businesses around the world and is now invited by Chairman Huynh Van Thon to the position of Independent Member of the Board of Directors of LTG.
“I want to contribute to benefit LTG and Vietnam in the important area of agriculture. Vietnam has a great opportunity when it has signed free trade agreements,” Mr. Rosler shared.
Since 2014, Mr. Phillipp Roesler has joined the Executive Board of the World Economic Forum Switzerland. After that, he became the General Director of the HCCF Charity Foundation in New York (USA).
In early 2019, the former German deputy chancellor joined a business in Vietnam for the first time when he assumed the role of Chairman of the advisory board of VinaCapital Ventures Investment Fund.
In 2019, LTG also invited Nutifood Chairman Tran Thanh Hai and Mr. Mark Peacook to the position of Independent Board Members.
At this shareholder meeting, Mr. Huynh Van Thon also resigned from the position of general director. According to LTG's report, Mr. Thon was born in 1958 and has held two top leadership positions at Loc Troi since 2004. Mr. Thon has been replaced by Mr. Nguyen Duy Thuan.
Loc Troi Group, formerly known as An Giang Plant Protection Joint Stock Company, was established in 1993, is one of the leading large-scale agricultural enterprises in Vietnam.
Loc Troi currently trades in agricultural products and materials including plant varieties, agro-pharmaceuticals, bio-organic, fertilizers; food including grain rice, coffee, purified water, fruit; agricultural services.
In 2019, Loc Troi achieved revenue of 8,710 billion VND and profit after tax of 335 billion VND. The business plan for 2020 approved at the general meeting of shareholders sets a revenue target of 7,350 billion VND, down 16% but profit target increased by 7% to 360 billion VND.
The company is listed on Upcom and is expected to list on the Ho Chi Minh City Stock Exchange (HoSE) in 2022 when it is approved and approved by the competent authorities.
In the current ownership structure, Loc Troi has 4 major shareholders, namely Marina Viet Fund of Singapore (25.2% share), An Giang Provincial People's Committee (24.2%), Kingsmead Vietnam and Indochina Growth Master Fund ( 6%) and the Augusta Viet Foundation (5.7%).
LTG said that 2020 will be the period when the company restructures, applies technology to operate (for example, signs an ERP system implementation agreement), aiming for a billion-dollar service business by 2024.
Loc Troi has set a target of 7,352 billion VND in revenue in 2020, down 15.6% over the same period, but profit after tax target is still increased by 7.5% from 335 billion VND to 360 billion VND.