Stakeholders voted to include three ThaiBev representatives in Sabeco's board.
Reuters reports that the shareholders of Vietnam’s largest brewer Sabeco voted to add three representatives of Thai Beverage to its management board, a Sabeco source and local media said.
ThaiBev, which owns over 50% in Sabeco, complained to the Vietnamese government earlier this year that its proposed board members for Sabeco had not been accepted. However, last month, a senior financial executive at Sabeco had said that ThaiBev’s proposed members would be able to join the board and that the process had been delayed due to “complicated procedures”.
The unnamed source from Sabeco and local media reports identified one of the three newly elected board members as Singaporean Koh Poh Tiong, board director and adviser of Fraser and Neave Limited. When contacted, ThaiBev did not respond to phone calls seeking for comment.
Read the full report here.
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