Mr. Vu Duc Tien requests leave for medical treatment, SHS appoints new CEO

After nearly a decade, Mr. Vu Duc Tien will step down from his position as CEO of Saigon - Hanoi Securities Joint Stock Company (HNX: SHS) due to his wish to take a leave for medical treatment. The new captain of SHS is Mr. Nguyen Chi Thanh.


Mr. Vu Duc Tien and Mr. Nguyen Chi Thanh – New CEO of SHS

On February 2nd, SHS’s Board of Directors approved the resignation of Mr. Vu Duc Tien from the position of CEO and Legal Representative of the Company. However, Mr. Tien will continue to serve as a member of SHS’s Board of Directors for the term 2022-2027.

Mr. Vu Duc Tien (born in 1973) holds a Bachelor’s degree in Accounting from the Banking Academy and a Bachelor’s degree in English from the Hanoi University of Foreign Studies. With nearly 30 years of experience in the financial industry, Mr. Tien has been with SHS since its inception in 2007. Since September 2014, he has been appointed as a member of SHS’s Board of Directors and has held the position of CEO since November 1st, 2014.

As a result, Mr. Tien will step down as CEO of SHS after 9 years and 3 months of service. Currently, he holds over 20.05 million SHS shares, equivalent to 2.47% of the company’s capital, while his wife, Mrs. Uong Van Hanh, holds 237,514 shares (0.03%).

In addition to his role at SHS, Mr. Vu Duc Tien also holds important positions in other companies, such as Chairman of the Board of Directors of PetroVietnam Machinery and Equipment Corporation (PVM); Deputy Chairman of the Board of Directors of PetroVietnam Construction Corporation (PVH); Member of the Board of Directors of Saigon-Hanoi Insurance Corporation (BHI); Member of the Board of Directors of Petroleum Equipment Infrastructure Investment and Services Corporation (PLA); Member of the Board of Directors of Nha Trang Tourist and Trading Joint Stock Company. However, he does not hold any shares in these organizations.

Following the above decision, SHS’s Board of Directors has appointed Mr. Nguyen Chi Thanh, Deputy CEO of the Company, to assume the position of CEO and Legal Representative of the Company. All management and operational tasks at SHS will be handed over to Mr. Thanh starting from February 5th, 2024, until the State Securities Commission officially approves.

Mr. Nguyen Chi Thanh (born in 1980) holds a Master’s degree in Business Administration from Boston University and a Bachelor’s degree in International Economics from the Foreign Trade University in Hanoi. With over 15 years of experience in the securities, finance, investment, and asset management sectors, Mr. Thanh has been serving as Deputy CEO of SHS since May 5th, 2014, and is currently the Head of SHS’s Representative Office in Hai Phong. He previously held the position of Branch Director in Ho Chi Minh City. Currently, he holds over 1.1 million SHS shares, equivalent to 0.14% of the company’s capital.

As of now, SHS’s executive board consists of Mr. Nguyen Chi Thanh – CEO, Mr. Tran Sy Tien – Deputy CEO and Chief Accountant, and Mrs. Tran Thi Thu Thanh – Deputy CEO.

Meanwhile, the members of SHS’s Board of Directors for the term 2022-2027 include Mr. Do Quang Vinh, Mr. Vu Duc Tien, Mr. Le Dang Khoa, Mrs. Nguyen Dieu Trinh, and Mr. Luu Danh Duc.

In terms of business results, as of the end of the fourth quarter of 2023, SHS reported a pre-tax profit of 213 billion VND, a significant improvement compared to a loss of 54 billion VND in the same period last year. This brings the company’s total pre-tax profit for the year to 684 billion VND, nearly 3.5 times the figure of 2022, achieving 62% of the annual profit target. The net profit is approximately 559 billion VND.

As of the end of 2023, SHS’s stock investment portfolio reached 3.585 trillion VND, with the largest investment in EIB shares with a total value of 311 billion VND. This is followed by MWG and FRT with purchase prices of nearly 278 billion VND and 299 billion VND, respectively.

*SHS reports a 3.5-fold increase in after-tax profit, self-trading in EIB, MWG, and FRT shares

From mid-December 2023 until now, SHS’s stock price has been fluctuating around 18,000-19,000 VND/share. As of February 2nd, the closing price of SHS reached the reference price of 18,300 VND/share, an increase of over 40% compared to the recent low at the end of October 2023.

SHS Stock Price in the Past Year


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