Enterprises need higher quality CEOs - Economy

Updated

September, 22 2012 09:31:58

Enterprises need higher quality CEOs

HCM CITY (VNS)— Viet Nam needs a new generation of ambitious and inspiring chief executive officers (CEO's) to kick-start the ailing economy, according to Gian Tu Trung, head of the PACE Business school.

Trung made the comments at a conference on Thursday titled ‘CEO 3.0: Go Through Challenges – Catch Opportunities'. He said, "new CEO's must be good enough to be able to compete with the rest of the world." He stressed that awareness and vision were the most important things for any business person but "Vietnamese CEO's should share core values with each other and grow together."

The first generation of CEO's in Viet Nam is widely considered to have been from 1975 – 1986 when a spirit of renovation was widespread. This was followed from 1986 – 2008 by a generation of CEO's pushing for international integration. Then the global crisis hit.

Speakers at the workshop lined up to make suggestions for CEO's leading companies now.

"The new CEO generation must accept changes. They are not infallible, so they should find the right consultancy companies to help them in specific fields," said Andy Ho, CEO of VinaCapital. He went on to note that the role of CEO was very important for investors, who need to see a person who can mobilise all a company's resources and staff to work in one direction.

Tran Le Nguyen, deputy chairman of Kinh Do's management board added to the calls for inspirational new leaders. "Being passionate and doing your very best for the job has been the requirement for every CEO in history, but it is especially necessary in these hard times." He confirmed his opinion that the CEO 3.0 generation must be better in governance to add value to their companies.

Le Hong Minh, chairman and CEO of VinaGame, discussed the obstacles facing company leaders in the current economic climate. "Fierce competition and fast changing technology are creating the most challenges for a CEO at this time," he said. His proposed solution is that local companies should set up a governance system that would help professional CEO's work more efficiently. New CEO recruits could then be recruited from within this network.

Over 600 CEO's from around the country gathered in HCM City to attend the forum. The event was organised by six organisations: Leading Businesses in Viet Nam club, HCM City Young Business People Group, Sai Gon Entrepreneur, 2030 Business people club, HCM City CEO club and Viet Nam's Enterprise for High-quality products. — VNS

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