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Eximbank's announcement

11/01/2024

Eximbank Shareholders' Meeting: witnessing the "questioning" culture of the rich

(Dantri.vn) - After the first failure, many people thought "If the beginning goes right, the end will come through", but in the end, Eximbank's 2nd Annual General Meeting of Shareholders still took place unsuccessfully. What is left behind by many people, including foreign investors, is more criticism and disparagement than the constructive spirit for the development of the bank.
Shareholders "disrupt" the meeting
On May 24, Vietnam Export-Import Commercial Joint Stock Bank (Eximbank) held the 2nd Annual General Meeting of Shareholders (AGM) in 2016. Throughout the meeting were images of loud, vocal shareholders. Be harsh and even insult members of the presiding group. Many shareholders rushed to the top to "lose enough" and "robber the forum" - a very bad image of shareholder meeting culture and also worsening the image of Vietnamese people in the eyes of foreign investors. outside.
In the general meeting regulations, shareholders do not accept the chairman of the 5-person delegation. To "cool down", two representatives for strategic shareholders SMBC Japan Bank and Vietcombank had to leave their chairs, but the shareholders still kept raising their voices. Annoyed because the shareholder sitting in the back had bad words and attitudes, the shareholder in front turned down to remind him and was immediately threatened with a "fight".

Shareholders flooded the chairman's table

According to our observations, it is noteworthy that the image of a member of Eximbank's old Board of Directors and also a senior advisor to the new Board of Directors also appeared on stage to reassure shareholders, but then turned to loudly criticize. The current Board of Directors makes the already "tense" congress even more "tense". While Eximbank's shareholders include investors from Japan, at the meeting a female shareholder loudly said: "Japanese people are not stupid. You have to be careful when doing business with them."
The meeting was so "exciting" that Mr. Ngo Thanh Tung, member of the Board of Directors of Eximbank, representative of the group's chairman, calmly answered questions from shareholders many times and also apologized many times to shareholders because the meeting did not take place. as peaceful as desired. This is also necessary for the common good of the congress, for the benefit of nearly 700 other people present in the congress.
Fearing "failure", an 80-year-old man, a founding shareholder of Eximbank, had to step up on stage to advise shareholders to calm down. "We are the first founders of Eximbank. I have fully participated in 32 shareholders' meetings, but I have never seen a disorderly General Meeting of Shareholders like this. Too much backlog and only 4 month, how can the Board of Directors have enough time to deal with the previous consequences? I completely disagree with your behavior like that. Let's see if the foreign press looks at it and they publish the image of Vietnam is very bad, ladies and gentlemen," said this shareholder.
And yet, an 83-year-old woman, at least twice holding the microphone with trembling hands, said: "I didn't go to college, but I have never behaved so poorly. I would have never stepped up to chair the delegation if not allowed. The chairman calmly tried to restrain the conference to continue, but people still argued and made things difficult for the conference, wasting everyone's time." The old lady advised everyone to wait for their own benefit and respect the 700 people present in the congress and most of all the 6,000 employees of Eximbank.

And yet, an 83-year-old woman, at least twice holding the microphone with trembling hands, said: "I didn't go to college, but I have never behaved so poorly. I would have never stepped up to chair the delegation if not allowed. The chairman calmly tried to restrain the conference to continue, but people still argued and made things difficult for the conference, wasting everyone's time." The old lady advised everyone to wait for their own benefit and respect the 700 people present in the congress and most of all the 6,000 employees of Eximbank.

Economic experts say that Eximbank's situation is currently very worrying when shareholders not only do not have a common voice to stabilize this bank, but also have a group of shareholders who are deliberately not cooperating. At the first general meeting, the major shareholder group did not attend. At the 2nd Congress, although fully attended, there was something "unusual" about this group of shareholders, lacking the spirit of serving everyone. Many shareholders refuse to listen to the business plans presented by the board of directors.
At the congress, in the face of chaos, Japanese investors still sat quietly watching and taking notes quite seriously. Sometimes, they just shake their heads in frustration when they see shareholders "hijacking the forum".

Congress security forces had to intervene with extreme actions

Dr. Bui Quang Tin, a financial expert, said that it is necessary to build a culture of shareholder meetings that is positive, effective and well-behaved, otherwise, like Eximbank's shareholders' meeting, it will leave a bad image of Vietnamese people lacking restraint and behaving uncivilized. chemistry. Don't let your fullness lose your appetite or lose your wisdom when you're angry.
A strategic consulting expert who is a former Regional Director of Coca-Cola Company and has worked abroad for 7 years said that: In a business, differences of opinion are very normal, so building Building a constructive "questioning culture" for us is very important.

"On the day of Eximbank's shareholders' meeting, there were many Japanese people. What did they think about Vietnam when they saw shareholders causing trouble? The image of Vietnamese people was hurt. TPP has knocked on the door, the country is integrating and this thinking is reaching out. Business will become more difficult in the big sea," this expert shared.
If on May 24, President Barack Obama had not come to stay at the InterContinental Hotel and US agents had continuously requested the return of the premises to ensure security, the Eximbank congress would have had a hard time ending.
I remember President Barack Obama said a very nice sentence: "Vietnam and America are two different countries. We have different cultures, traditions, and geographies, of course we have different opinions, but what It's important that we sit down and have a dialogue." I think Eximbank shareholders should understand this saying!

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