The Chairman of the Board of Directors, representing the Board and the Management of Amret Microfinance Institute, has announced the early retirement of Mr. Chea Phalarin, CEO of Amret, effective as of 21st January 2019. After his retirement, Mr. Chea Phalarin will continue to serve as a member of the Board for Amret as well as a member of the Board of Advans Myanmar.
The Board recognizes Mr. Chea Phalarin’s contribution as CEO of Amret since late 1997. Under his leadership, Amret evolved from a microcredit only institution, barely covering its operating costs, into a profitable Microfinance Deposit-taking Institution providing a full range of credits and financial services to more than 450,000 MSME and low-income clients, in both rural and urban areas.
Mr. Chea Phalarin will be succeeded by Mr. Dos Dinn, current Deputy CEO of Amret with effect from 21st January 2019. Mr. Dos Dinn has been a manager of Amret since 1996 and has been Mr. Phalarin’s closest manager and Deputy CEO for more than 7 years. This appointment ensures that leadership in Amret will transition smoothly and at the same time, evolve along a steady path to meet Amret’s mission and our customers’ future needs in Cambodia.
Chea Phalarin says: “We, Amret and I, are fortunate that we have found a clear successor in Deputy CEO. I know that by handing over leadership of Amret to Dinn, I am handing Amret over to someone I trust, respect and admire. I know that Dinn is the right leader to lead Amret in the next wave of growth with our mid-term strategy—the Amret+, and I would like the whole company to join me in welcoming him as the new CEO of Amret. I will miss you all very much, but I look forward to stepping into Amret’s branches as a very knowledgeable client and watching Amret grow over many more years to come.
Dos Dinn says: “On behalf of all the staff of Amret, I would like to thank Mr. Phalarin for his enormous contribution to Amret which we are all proud to work for today. He leaves us with a solid company, strengthened by a common mission and corporate culture. These are sound foundations, on which we can build our ambitions for the company’s next phase of development, where we will focus on significantly growing our client base, reinforcing our impact and continuing to create value for our shareholders.” Please join me to thank Mr. Phalarin for his significant contribution to Amret success.”
Claude Falgon, Chairman of the Board of Amret added: “On behalf of the Board of Directors, I would like to thank Mr. Phalarin for having led Amret for more than 20 years and made it one of the most successful MFI from an economic and social impact point of view. I am glad that Mr. Phalarin will continue to contribute to Amret future development by joining the Board of Directors. His experience and intimate knowledge of the organization and culture of the company will be invaluable. ”