Mobile World chief takes $164 salary

By Minh Son   February 3, 2024 | 03:46 pm PT
Mobile World chief takes $164 salary
Mobile World chairman Nguyen Duc Tai. Photo courtesy of the company
Chairman of electronics retail giant Mobile World Group Nguyen Duc Tai and CEOs from two company subsidiaries each received VND4 million ($164) in salary for the second half of last year.

The CEO of smartphone chain The Gioi Di Dong, Tran Huy Thanh Tung, and CEO of electronics appliances chain Dien May Xanh, Doan Van Hieu Em, received the same compensation during the period.

The company struggled with declining consumption las year. For the whole year, Tai recorded VND230 million in salary, down 90% from 2022.

Tung’s salary dropped by 70% year-on-year to VND686 million, while Em’s fell 86% to VND584 million.

Among the directors of Mobile World, Robert Willett was the only one who received roughly the same salary as 2022, at VND2.25 billion.

Mobile World saw revenue dropping 11% to VND118.30 trillion last year, while post-tax profit dove to a 10-year low of VND168 billion.

Weak demand and tightened spending caused sales of smartphones and electronics to drop, the leaders of the company said.

But Bach Hoa Xanh, the corporation’s grocery chain business, reached a breakeven point in December while experiencing a 17% surge in revenues to VND31.6 trillion.

The supermarket firm has accumulated total losses of VND8.61 trillion since its founding.

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