On 02/02/2024, International Dairy Corporation (Stock Code: IDP) announced the resolution of the Board of Directors, appointing Mr. Bui Hoang Sang as the CEO of the Company effective from 25/2/2024.
According to the minutes of the Board of Directors meeting of the Company, the current General Director, Ms. Dang Pham Minh Loan discussed the implementation of the strategy to find a professional CEO to lead the Company. Accordingly, the candidate found and recommended by Ms. Loan is Mr. Bui Hoang Sang, who has been serving as the Strategic Advisor to the General Director of IDP Company since mid-2023. During this period, Mr. Sang has participated in strategic advisory work for the CEO and has demonstrated the appropriate capabilities and experience in the role of CEO.
The General Director, Ms. Dang Pham Minh Loan, proposed to appoint Mr. Sang as the new CEO of the Company from 25/2/2024 or on the date adjusted by the state authority for adjusting the Business Registration Certificate.
CEO Dang Pham Minh Loan said: “In this new development stage, the Company needs to find a professional CEO. Mr. Bui Hoang Sang has had a working period with the Company and has shown good capability in advising and executing the Company’s strategies. With extensive experience working for multinational companies in the consumer goods field, we believe that Mr. Sang will have the ability to lead the Company’s strong development in the coming period.”
Mr. Bui Hoang Sang (left) taking a photo with Ms. Dang Pham Minh Loan
According to the introduction on LinkedIn, Mr. Sang has more than 17 years of business management experience for multinational corporations, especially American companies in the consumer goods field. He has solid knowledge and experience in sales, marketing, and finance… and is considered one of the successful marketers in Vietnam.
He worked for Colgate & SC Johnson for 4 years, then joined Kimberly-Clark in 1999 and held the highest position of K-C Vietnam. During his time at K-C, K-C achieved strong revenue growth with a growth rate of 50% per year. Mr. Sang is also the person who successfully built the Kotex brand in the Vietnamese market.
In 2005, he joined Tan Hiep Phat Group as Marketing Director, also served as a high-level executive assistant to the CEO. He made significant contributions to the success of two brands: Dr. Thanh and 0-degree green tea… He pioneered the restructuring of operations through the implementation of a new system of efficient improvement and OGSM for all functions from the highest to the supervisory level.
After THP, he joined Nutifood as a Senior Advisor, directly managing sales and marketing departments.
Ms. Dang Pham Minh Loan is a shareholder holding approximately 5% of IDP’s shares and a member of the Board of Directors. Although no longer the CEO, Ms. Loan will continue to serve as a member of the Board of Directors and support the Company in strategy and digital marketing platforms, which are the Company’s strengths. CEO Dang Pham Minh Loan also left a strong impression on IDP when she transformed IDP from losing capital to a thousand billion dong-profit company.
Recently, IDP has announced the financial report for the fourth quarter of 2023. In 2023, IDP reported net revenue of 6,655 billion VND and after-tax profit of over 894 billion VND, an increase of 10.31% compared to 2022.
As of December 31, 2023, the company’s equity reached 3,035 billion VND; total assets reached 5,288 billion VND, of which cash and bank deposits reached 2,260 billion VND.
