Techcombank appoints new board members

The shareholders of Techcombank collectively approved the resignation of Madhur Maini as a member of the board of directors. and Nguyen Quynh Lam as  a member of the supervisory board.

Lee Boon Huat has been appointed as an independent member of the board of directors until 2014 and Do Tuan Anh  as member of the board of directors until 2014. Meanwhile, Hoang Huy Trung has been named as member of the Supervisory Board until 2014.

These changes have been effected to ensure compliance to the regulations on board constitutions applicable to all financial institutions effective Jan 1, 2013. The State Bank’s new regulation stipulates that all financial institutions would need to appoint an independent board member.

The new appointments to the board of directors and supervisory board are also appropriate replacements for Madhur Maini, who resigned from Techcombank’s board of directors to focus on Masan Group’s core consumption and resources businesses as Group CEO, and Nguyen Quynh Lam, who resigned from the supervisory board to concentrate on his personal and family businesses.

The shareholders have also agreed to authorize the board of directors to select and appoint an independent auditing company for Techcombank and its subsidiaries.

“The appointment of the new members to Techcombank’s board of directors and supervisory board will further strengthen the governance of the bank and will provide strong and strategic direction to the bank’s growth,” said Ho Hung Anh, chairman of Techcombank. “These new appointments come at a critical time and I am confident that the strategic governance and directional guidance capabilities of the board will be further strengthened,” Anh added.