Retailer Masan’s American CEO Danny Le earns $70K monthly

The income, which comprised salary, bonuses, and other benefits, went up 48% from 2023 and marked the highest compensation he had received since assuming the CEO role in 2020.

Masan Group CEO Danny Le. Photo courtesy of the company

Danny was the only executive of Masan to receive remuneration in the past year. Members of the board of directors and the audit committee, including chairman Nguyen Dang Quang, did not receive any compensation.

Danny’s salary is substantially higher than that of other CEOs in Vietnam.

In 2023, his compensation of VND14.7 billion in total was six times that of an average CEO in a listed public company, according to market data provider FiinGroup.

Danny, 41, holds U.S. citizenship and has a degree in sociology. Before returning to Vietnam, he worked as an analyst in the Investment Banking Division of Morgan Stanley.

Joining Masan in 2010, he played a pivotal role in shaping the group’s development strategy and orchestrating merger and acquisition transactions.

In the following years he held key positions within the company before taking the CEO post in June 2020.

By the end of last year Danny owned more than 3.7 million MSN shares, which are now valued at around VND252 billion.

The surge in Danny’s earnings could be partly explained by Masan’s strong performance last year, reaching a three-year high revenue of VND83.18 trillion, up 6.3%.

Post-tax profit jumped 2.3 times to VND4.27 trillion.

The results were driven by profit growth in the retail consumer business segment, including food producer Masan Consumer, WinCommerce – the subsidiary operating the WinMart supermarkets and Win outlets, meat producer Masan Meatlife, and beverage chain Phuc Long.

For this year, Masan Group forecasts revenue to grow 3% to VND85.5 trillion.

Profit after tax, before allocation to minority shareholders, is expected to reach up to VND6.5 trillion, representing a growth of 52% compared to 2024.