Vietnam's major meat producer Vissan appoints new general director
The board of directors of Vietnam's leading meat producer Vietnam Livestock Corporation (Vissan) has appointed Le Minh Tuan as its new general director, succeeding Nguyen Ngoc An.
Born in 1968, Tuan holds a bachelor's degree in law and a bachelor's degree in corporate finance. He has held several key positions at Vissan which is registered on the unlisted public companies market UpCOM as VSN.
Tuan has been a board member of Vissan since June 2020. Previously, he had been deputy director of planning and financial investment at SATRA and deputy general director of Vissan since 2018.
Le Minh Tuan, Vissan's newly appointed general director. Photo courtesy of Vissan.
Effective December 20, 2024, Tuan will serve a five-year term as general director. His predecessor, Nguyen Ngoc An, born in 1963, had been appointed as general director in 2017. An stepped down at the beginning of December 2024 upon reaching retirement age.
Vissan’s shareholder structure has remained consistent over the years. Saigon Trading Group-One Member Limited Liability Company (SATRA) currently holds 67.76% of the company’s charter capital, while Masan Meatlife JSC owns 24.94%.
At Vissan’s 2019 shareholders' meeting, a SATRA representative announced plans to restructure SATRA’s entire investment portfolio, including its stake in Vissan. The restructuring initiative was to begin after SATRA’s equitization process, which was unveiled in late 2016.
In August 2024, Ho Chi Minh City listed SATRA among 10 enterprises slated for equitization by 2025. Under this plan, the state will retain 65% of SATRA’s charter capital.
In the first nine months of 2024, Vissan supplied over 21,800 tons of food to the market, including nearly 10,000 tons of fresh products.
The company reported a net profit of more than VND88 billion ($3.45 million) in the period, up 1% year-on-year. By the end of the reporting period, Vissan employed more than 3,600 people.
Vissan began its business operations and production in 1974, four years after its establishment. Its VSN shares are currently traded on the UPCoM exchange.
With a 2023 dividend rate of 6% (VND600 or $0.24 per share), SATRA earned nearly VND33 billion ($1.3 million) in dividends from its 54.8 million VSN shares.
VSN shares closed Monday at VND18,000 ($0.71) apiece on the UpCOM.
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