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Jardine Matheson appoints first board member to Vinamilk

British group is latest foreign investor to gain board seat at Vietnam state dairy

Vinamilk products in a supermarket in Hanoi, Vietnam. (Photo by Takaki Kasihwabara)

HO CHI MINH CITY -- Jardine Matheson, a British conglomerate based in Singapore, has appointed its first board member at state-owned Vietnam Dairy Products, or Vinamilk, after winning approval at the company's annual general meeting. Jardines' representative was accepted after the conglomerate acquired a stake of more than 10% in Vinamilk ahead of the meeting.   

During the AGM on Saturday in Ho Chi Minh City, Vinamilk's shareholders approved Jardines' proposal to increase the members of the management board to 11 from nine. Alain Xavier Cany, country chairman of Jardine Matheson (Vietnam), is taking up one of the new seats, while Vinamilk is searching for a suitable member to fill the other.

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