Loc Troi Group JSC (code: LTG, UPCoM) has just announced the unexpected resignation of Mr. Johan Sven Richard Boden from his position as a member of the Board of Directors.
In his letter of resignation, Mr. Boden cited personal reasons for his decision and respectfully requested to step down from his role as a member of the Board of Directors of Loc Troi Group, effective August 23, 2024.
Interestingly, Mr. Boden was only recently elected to the Board of Directors for the term 2024-2029 at the annual general meeting held on June 26, 2024.
Mr. Johan Sven Richard Boden at the groundbreaking ceremony of the “DenEast Dairy and Beverage Factory”
According to his introduction as a Board member candidate, Mr. Boden, a Swedish national born in 1971, has a professional background in “General Management, Sales & Marketing, Operations, Agriculture, and Food Processing”. He had no related parties and did not hold any shares in Loc Troi Group.
Mr. Boden is currently the General Director of DenEast Vietnam Co., Ltd., a 100% foreign-invested company established in 2017 with origins in Sweden and Ukraine. The company is headquartered in the Vietnam-Singapore Industrial Park II-A, Vinh Tan Ward, Tan Uyen Town, Binh Duong Province.
After obtaining its investment registration certificate, DenEast Vietnam commenced construction of the “DenEast Dairy and Beverage Factory” in late May 2018. The project has a total capacity of 210 million liters of products per year and an investment of over VND 1,500 billion. The project covers an area of 50,000 square meters.
Mr. Johan Sven Richard Boden is not the only senior executive of Loc Troi Group to have recently resigned. On July 22, Ms. Nguyen Thi Thuy also stepped down from her position as a member of the Supervisory Board.
Previously, in mid-July 2024, the Board of Directors of Loc Troi Group decided to relieve Mr. Nguyen Duy Thuan of his duties as General Director. Mr. Huynh Van Thon, Chairman of the Board of Directors, temporarily assumed the role of running the company until a new CEO is appointed.
Mr. Nguyen Duy Thuan joined Loc Troi Group in June 2019 and served as CEO for four years.
Following its losses in the first three months of the year, Loc Troi Group has not yet published its financial report for the second quarter of 2024. According to a document sent to the State Securities Commission and the Hanoi Stock Exchange regarding the delay in publishing the report, the company is facing some force majeure events and needs to focus on stabilizing its operating capital. The entire company must concentrate on addressing immediate financial issues.
In addition, the annual general meeting of LTG was held later than in previous years. After the meeting, the company experienced some personnel changes, including the replacement of key personnel, which affected the progress of data compilation and provision for the completion of the second-quarter financial report within the prescribed time limit.
