Agribank Securities JSC (Agriseco) on Friday appointed its chief executive officer (CEO) to become the new chairman of the management board. — Photo tinnhanhchungkhoan.vn

Agribank Securities JSC (Agriseco) on Friday appointed its chief executive officer (CEO) to become the new chairman of the management board.

The new chairman, Phan Van Tuan, became the CEO of Agriseco on September 23, 2015. He was voted a member of the management board in November 2014.

Tuan represents the Viet Nam Bank for Agriculture and Rural Development with an ownership of 21.08 per cent, equal to 44.5 million shares.

The former chairman, Nguyen Kim Hau, was no longer a member of the company’s management board on Friday.

In the first quarter of 2017, Agriseco posted VND54.6 billion (US$2.42 million) in revenues, a three-time annual increase.

The company recorded VND52 billion in post-tax profit, which was a big improvement compared to a loss of VND111.5 billion in 2016’s first quarter.

Despite improvements in its business, Agriseco still posted an accumulated loss of VND510 billion. — VNS