Eximbank chair resigns after one month in the job

13-Jul-2019 Intellasia | The Saigon Times | 6:02 AM Print This Post

Cao Xuan Ninh, chair of Vietnam Export Import Bank (Eximbank), has tendered his resignation after only one month in the job. The HCM City-based bank has been plagued with leadership disputes.

Ninh noted in his resignation letter that there have been multiple disputes among shareholders of the bank, which has negatively affected the bank’s prestige and caused difficulties in the bank’s management and operation.

“As the bank chair, I have tried to strengthen the bank’s governance and complete procedures to organise the bank’s second shareholder meeting as required,” Ninh added.

However, Eximbank’s general shareholder meeting on June 21 was canceled halfway through the gathering as more than half of the shareholders refused to continue the meeting as soon as the agenda was announced.

As the conflicts between shareholders cannot be resolved quickly, Ninh decided to resign from his post.

Ninh was elected Eximbank chair on May 22.

This is not the first time Ninh has submitted his resignation. In 2006, he petitioned to resign from the bank’s board.



Category: Finance, Vietnam

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