HO CHI MINH CITY — Saigon Beer Alcohol Beverage Corp., or Sabeco, has seated the first independent member on its board of directors and set up an audit committee, becoming Vietnam’s second listed state-owned enterprise to do so since the current corporations law came into effect in 2014.
It follows Vietnam Dairy Products, or Vinamilk, which added independent directors and replaced its board of supervisors with an audit committee in 2017.
Sabeco’s new and only independent director is Nguyen Tien Vy, vice chairman of the Vietnam Beer Alcohol Beverage Association. He holds a master’s degree in law and formerly filled multiple posts at the Ministry of Industry and Trade.
The audit committee’s makeup has not been announced. But under the corporate charter, a majority of members must be…
