Cambodia Investment Review

AmCham Announces New Board and Discloses Positive Financial Position For 2024

AmCham Announces New Board and Discloses Positive Financial Position For 2024

Cambodia Investment Review

The American Chamber of Commerce in Cambodia (AmCham) has successfully concluded its Annual General Meeting and Charity Gala Dinner on March 27, 2024, at the Oakwood Premier Phnom Penh hotel. This event was not only a celebration of the chamber’s achievements but also a pivotal moment for its future, as it announced the election of five new governors to its Board of Governors for the 2024-2026 term.

The meeting was attended by high-profile guests, including Deputy Prime Minister H.E. Vongsey Vissoth, signifying the chamber’s significant role in strengthening Cambodia’s economic and business ties. The US Ambassador did not attend the event due to family travel commitments, with USAID/Cambodia Mission Director Ms. Kerry Pelzman.

The meeting was attended by high-profile guests, including Deputy Prime Minister H.E. Vongsey Vissoth.

AmCham announced a record with over 240 member organizations and individual companies spanning across 14 sectors and supported by 7 industry committees. This broad representation underscores the chamber’s central role in Cambodia’s business ecosystem.

Read more: AmCham Cambodia Announces 13 Candidates for 5 Board Positions in 2024

In 2023, AmCham demonstrated strong financial health, reporting revenues of $424,000, up from $381,000 in 2022, and ended the year with an operating surplus of $21,000 and a cash balance of $104,000. These figures highlight the chamber’s robust membership engagement and successful event hosting capabilities.

Distinguished By Its Emphasis On Ethical Leadership

The election process was distinguished by its emphasis on ethical leadership, with candidates or their affiliated companies facing disqualification for any adverse history. This rigorous standard underscores AmCham’s commitment to integrity and ethical business practices within its leadership ranks.

AmCham Cambodia Executive Director Travis Mitchell showcasing the chambers current financials.

Under AmCham regulations, candidates are elected by members to the board of governors annually with a two-year term limit. Board members must step down following two consecutive terms for a period of one year before becoming eligible to run again.

The outgoing board members included:

  • Devin Barta, Country Manager, AHF Products
  • Joseph Telfer, Managing Partner and Founder, DataU Academy
  • Moniveark Sou, Managing Director, ChemDry Cambodia
  • Zhiger Atchabarov, Chief Operating Officer, ABA Bank
  • Casey Barnett, President, CamEd Business School
AmCham Cambodia 2023 Outgoing Board Members.

Their departure makes way for the newly elected board members, a group of distinguished leaders tasked with guiding AmCham through its next stages of growth and impact. The 2024 board members are:

  • Anthony Galliano, Group CEO, Cambodian Investment Management (re-elected, non-consecutive term)
  • Bora Kem, Partner, Mekong Strategic Partners (newly elected)
  • Casey Barnett, CFA, FCCA, President, CamEd Business School (re-elected)
  • Christopher McCarthy, Chief Executive Officer, MangoTango Asia
  • Davy Kong, Co-Head of Real Estate & Construction Practice Group, DFDL Cambodia
  • Ivana Tranchini, Country Manager Cambodia, Visa
  • Jay Cohen, Partner & Director, Tilleke & Gibbins
  • Kim Tol Tan, Founder & CEO, Grow4Growth Consultant
  • Tom O’Sullivan, CEO & Director,
  • Torsten Kleine Buening, Chief Risk Officer, ABA Bank (newly elected)
  • Vanseka Sok, Managing Partner, SETHALAY Law Office (newly elected)

Wealth Of Experience And Expertise From Various Sectors

This diverse group of leaders brings a wealth of experience and expertise from various sectors, reflecting AmCham’s broad representation across Cambodia’s business landscape. Over the next three weeks, the board will convene to appoint its president and other leadership positions, setting the direction for the chamber’s activities in the coming year.

AmCham AGM at Oakwood Hotel in Phnom Penh on March 27, 2024.

In a conversation with Cambodia Investment Review, former AmCham Board Member and President (2021 – 2022/23) Anthony Galliano said: “I am deeply proud of the strides made by Devin Barta, Travis Mitchell, and the 2023 Board, propelling AmCham and its members to new heights in Cambodia’s business realm. My dedication to serve remains steadfast; though not seeking the Presidency, I am committed to supporting our financial and capital markets in 2024, a pivotal step for Cambodia’s ascent as a key player in the ASEAN region.”

All board members will convene to decide upon the leadership position announced in late April 2024. Founded in 1996, AmCham is an independent non-profit membership organization comprised of both American and Cambodian companies who share a connection to American commerce.

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