A Quick Turnover: Leadership Changes at Vietnamese Companies
Victory Capital JSC (stock code: PTL) has announced changes in its leadership. Mrs. Nguyen Thi Kim Thoa has been relieved of her duties as CEO and legal representative, with Mr. Nguyen Tuan Anh appointed to the position effective August 26th. Mr. Tuan Anh had previously stepped down from the company’s Board of Directors on August 21st.
Notably, Mrs. Thoa’s tenure as CEO lasted a brief nine months, from November 2023 until now. From 2021 to 2023, PTL witnessed five changes in the CEO position, with each incumbent holding the role for less than a year.
The recent CEOs of Victory Capital have had short tenures.
The company has seen a rapid succession of CEOs: on June 10, 2021, Mr. Nguyen Phu Hung was appointed to replace Mr. Nguyen Quang Hung; on March 28, 2022, Mr. Nguyen Thanh Tuan took over from Mr. Hung; on March 27, 2023, Mrs. Ngo Viet Ngoc Thanh was appointed, followed by Mr. Le Van Vu on May 4, 2023. Mr. Vu’s tenure ended on November 27, 2023, when Mrs. Thoa took over the role.
The Board of Directors has also undergone changes. In April, Mr. Nguyen Tan Thu stepped down as Chairman for personal reasons, and Mr. Le Hao was elected to replace him.
Additionally, towards the end of 2023 and early 2024, PTL received resignation letters from three other Board members: Mr. David Maurice Jackson, Mr. Rainer Frey, and Mr. Le Van Vu, all citing personal reasons.
In early April, PTL also received the resignation of Mr. Phan Anh Quan, who had been a Board member for less than two months.
Loc Troi Group JSC (stock code: LTG) has also experienced leadership changes. Mr. Johan Sven Richard Boden, a recently elected Board member for the 2024-2029 term, has resigned from his position effective August 23rd, citing personal reasons.
Mr. Johan Boden, 53, is the CEO of DenEast Vietnam Co., Ltd. During his brief tenure at Loc Troi Group, he held no related parties and did not own any shares in the company.
Loc Troi Group has seen frequent changes in its senior management recently.
Prior to Mr. Johan’s resignation, Ms. Nguyen Thi Thuy also stepped down from her position as a member of the Supervisory Board. Loc Troi Group also elected Mr. Nguyen My as their new Vice President at the same time.
In related news, Loc Troi Group dismissed Mr. Nguyen Duy Thuan from his position as CEO effective July 15th. Mr. Huynh Van Thon, Chairman of the Board of Directors, is temporarily managing the company until a new CEO is appointed.
A Series of Changes
SJ Group JSC (stock code: SJS) has announced changes to its Board of Directors, with Mr. Do Van Binh stepping down as Chairman and assuming the role of Vice Chairman, effective August 21st.
Mr. Binh, 64, holds a Bachelor’s degree in Banking. He joined SJ Group in 2012 and has served as Chairman since May 2021.
Meanwhile, Mr. Bui Quang Bach, 48, has been appointed as the new Chairman for the 2020-2025 term. He holds a Master’s degree in Finance and Banking and has been a member of the Board of Directors since March 2023.
Mr. Bach also serves on the Boards of National Securities JSC (NSI) and SAM Holdings (SAM). He is an independent member of the Board of Directors at Tasco (HUT) and Vice Chairman of the Board of Directors at DNP Holding (DNP).
SJ Group has also appointed Mr. Phuong Xuan Thuy, a member of the Board of Directors, as Vice Chairman for the 2020-2025 term. Mr. Thuy, 47, holds a Master’s degree in Business Administration and joined the Board in March 2023.
Mr. Thuy is also the Vice Chairman of the Board of Directors at SAM Holdings, a member of the Board of Directors at Dam Sen Water Park JSC (DSN) and Phu Tho Tourism Service JSC (DSN’s largest shareholder), Chairman of the Board of Directors at Sacom Tuyen Lam (a subsidiary of SAM Holdings), and Chairman of the Board of Directors and CEO of Infinity Group.
Vinhomes’ management team is now comprised of four members.
In July 2024, SJ Group dismissed Mr. Do Trong Quynh from his position as CEO and legal representative of the company. Mr. Nguyen Viet Cuong, Vice President, was appointed as the acting CEO effective July 15th.
Vinhomes JSC (stock code: VHM) has announced the resignation of Mr. Douglas John Farrrell as Vice President, effective August 24th. Mr. Douglas cited personal reasons for his departure.
Mr. Douglas John Farrrell, 44, holds a Bachelor’s degree in Finance from Macquarie University, Australia, and a Bachelor’s degree in Commercial Accounting from the Institute of Chartered Accountants in Australia. He had been serving as Vice President of Finance and Investment at Vinhomes since February 2018.
With Mr. Douglas’s departure, Vinhomes’ management team is now comprised of four members: CEO Nguyen Thu Hang and three Vice Presidents, Dang Minh Hai, Pham Van Khuong, and Mai Thu Thuy.
Vietnam Credit Securities JSC (VTSS) has received a resignation letter from Mr. Ronald Nguyen Anh Dat, a member of its Board of Directors. Mr. Ronald had recently handed over the position of Chairman of the Board to Mrs. Nguyen Thi Thanh Thuy just two months ago.
In his resignation letter, Mr. Ronald stated that the decision was made due to personal reasons. He also requested the organization of an extraordinary general meeting of shareholders to approve his resignation and elect a new Board member to fill the vacant position.
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