“The Loneliest Job”: Truong Gia Binh’s Take on the Chairmanship

When asked about the qualities needed to lead a business in today’s market at the “Enhancing Corporate Governance Capacity for Listed Companies” conference on July 3, Mr. Truong Gia Binh, emphasized that a leader’s role is to provide direction and be a pioneer, rather than a follower.

In the current context, a company’s chairman should not only focus on governance but also prioritize ESG factors in their business operations.

“For FPT to secure major contracts, our partners always ask us: ‘How green is FPT?’ This highlights that to improve governance, FPT must embrace technology and drive transformation. At FPT, we are undergoing three significant transformations: digital transformation, green transformation, and intelligence,” Mr. Binh shared.

As evidence of the transformative vision a leader should possess, the Chairman of FPT is encouraging employees to use AI to boost labor productivity by 30%. By freeing up labor resources, employees can then focus on creating innovative product packaging and optimizing efficiency.

According to Mr. Truong Gia Binh, a leader should also be a lifelong learner. “We learn rigorously from the world. Our journey with AI is inspired by Deloitte. The 30% labor productivity growth target is also calculated by their experts,” he informed.

Not only should a chairman be a perpetual learner, but they should also inspire others to find their work more fascinating every day. At FPT, the company practices a “people’s war” approach in business management to harness the collective strength of its employees.

Previously, in a media statement, Mr. Binh shared: “For many years, FPT has incorporated the art of people’s war in business management. I believe in the power of people’s war—the strength that enables a small, poor, and backward nation to win the most ferocious battles. Why? When one person dedicates themselves and makes sacrifices for a common purpose, it creates an invisible force.”

Additionally, at FPT, everyone is considered the master of their work. Therefore, the company establishes OKRs to encourage a sense of initiative among employees rather than relying solely on KPIs for target setting and enforcement.

However, when discussing the challenges of being a chairman, Mr. Truong Gia Binh noted that it is the loneliest profession. As a leader, one must communicate with many people, but there are things that cannot be said and dare not be said.

“Therefore, chairpersons can bond and share their experiences as they have common goals and responsibilities,” said the FPT Chairman at the launch of the Chair Club at the event.

At the event held at the State Securities Commission on July 3, Mr. Truong Gia Binh, along with leaders of other listed corporations in Vietnam, joined the Chair Club. The club serves as a platform to update and apply practical knowledge, foster connections, and strengthen the collective power of leaders, providing regulatory bodies and investors with valuable insights when deciding to invest in the Vietnamese stock market.

Previously, in 1988, Mr. Truong Gia Binh, along with 12 other Vietnamese scientists, founded the Food Technology Company, which later became FPT Corporation. Under his leadership, FPT has become a leading information technology and telecommunications company in Vietnam and strives to achieve international recognition.

In addition to his role as Chairman of FPT’s Board of Directors, Mr. Truong Gia Binh also serves as Head of the Private Economic Development Research Group under the Advisory Council for Administrative Procedure Reform from 2017 to the present.

Thao Van