VINATEX leaders dismissed if to loss 2 years

This is a new point in the draft charter activities of Vietnam Textile and Garment Group (Vinatex).

According to the draft charter organization and operation of the Vietnam Textile and Garment Group recently announced, Vietnam Textile and Garment Group Limited is a company invested by 100% state capital, operating under the provisions of law and this Statute.

VINATEX been developed to facilitate economic groups have established the level of technology, modern management and highly specialized, multi-sector business, which is the textile industry, the main business; closely linked between production and business to science, technology, research and training, with the participation of many sectors of the economy as the core for Vietnam textile rapid and sustainable development, competitiveness and social international economic integration effectively.

Vinatex charter capital of 3,400 billion capital adjustments made in accordance with the law.

Notably, the draft charter tightly regulated rights, obligations and responsibilities of Board members, CEO VINATEX.

Accordingly, VINATEX case to fall into bankruptcy, depending on the seriousness of the violation and the consequences, chairman of the board members, CEO salaries were lowered or removed from office, and to pay damages by prescribed by law.


As for the position of General Manager, will be dismissed before the deadline if the loss to the group for two consecutive years or fail to achieve the rate of return on equity by the owners over the next two years or in loss of status, overlapping interests but not fix, or corporations fall into bankruptcy without filing for bankruptcy under the provisions of the bankruptcy law.