Mr. Ronald Nguyen Anh Dat has recently submitted his resignation from the position of Chairman of the Board of Directors of VTSS, a leading securities company in Vietnam. In his resignation letter, Mr. Dat cited personal reasons for his decision and requested an extraordinary general meeting of shareholders to approve his resignation and elect a new board member to fill his position.
Mr. Ronald Nguyen Anh Dat, an Australian national, served as Chairman of VTSS from September 2015 until his resignation in July 2024, marking a nearly nine-year tenure. During his time with the company, he played a crucial role in its development and growth.
At the same meeting, the shareholders of VTSS also accepted the resignations of two other board members, Mr. Boyd-Bowman Charles James and Ms. Hoang Ngan Ha, who had also cited personal reasons for their departures. To fill these vacancies, the shareholders elected Ms. Nguyen Thi Thanh Thuy and Ms. Vo Huynh Ngoc as their replacements.
Subsequently, the new board of directors appointed Ms. Nguyen Thi Thanh Thuy as the new Chairman of the Board and Legal Representative of VTSS. Notably, Ms. Thuy is the authorized representative of Minh Thanh Tourism Joint Stock Company, the largest shareholder of VTSS, holding 49% of its charter capital. This share was transferred to Minh Thanh Tourism by the former chairman, Mr. Ronald Nguyen Anh Dat, in December 2023.
In the first half of 2024, VTSS reported a significant drop in operating revenue, with a 74% decline compared to the same period last year. However, the company experienced a remarkable turnaround in profitability, recording a net profit of VND 24.7 billion, compared to a loss of VND 1.5 billion in the previous year. This improvement was attributed to successful debt recovery and the reversal of provisioning expenses.
The recent changes in VTSS’s leadership and the positive financial results indicate a potential shift in the company’s fortunes. With a new chairman and a majority shareholder, investors will be keenly watching the company’s performance and strategic direction in the coming months.
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