The Great C-Suite Shuffle: Unraveling the Mystery of Executive Movements Across Enterprises

Constant Shuffle

Loc Troi Group Joint Stock Company (stock code: LTG) has just received the resignation of Mr. Tieu Phuoc Thanh – member of the Supervisory Board – due to personal reasons. Mr. Thanh requested the shareholders’ meeting and the Supervisory Board of Loc Troi to approve the resignation from September 6th.

Mr. Tieu Phuoc Thanh, 36 years old, holds a Bachelor of Economics and joined Loc Troi in 2010 as Deputy Head of the Grain Accounting Department. Currently, Mr. Thanh is the Head of the Supervisory Board of Loc Troi Agricultural Products Joint Stock Company – an important subsidiary of Loc Troi.

In addition, Mr. Thanh is also the Chairman of the Board of Directors of Hieu Nhan High-Tech Agriculture Joint Stock Company, Dai Tai High-Tech Agriculture Joint Stock Company, and Hung Phuoc Grain Joint Stock Company. These companies are all affiliates of Loc Troi, with ownership ratios ranging from 46-48%.

Recently, Loc Troi Group Joint Stock Company has experienced a lot of shuffles in its senior leadership structure. Prior to Mr. Thanh, on July 22nd, Ms. Nguyen Thi Thuy – a member of the Supervisory Board of Loc Troi – also resigned. As a result, LTG’s Supervisory Board now only includes Uday Krishna as the Head.

In mid-July, LTG announced the dismissal of Mr. Nguyen Duy Thuan from the position of General Director. Mr. Huynh Van Thon – Chairman of the Board of Directors of Loc Troi – temporarily manages the company’s operations until a new general director is appointed.

On July 21st, LTG received the resignation of Mr. Johan Sven Richard Boden, a member of the Board of Directors, who was just elected to the Loc Troi Board of Directors for the term 2024-2029 on June 26th. In his resignation letter, Mr. Johan Boden stated that due to personal reasons, he wished to resign from the position of Loc Troi’s Board of Directors member from August 23rd.

Notably, Mr. Johan Boden was just elected to the Loc Troi Board of Directors about two months ago. Additionally, Mr. Johan Boden is currently the General Director of DenEast Vietnam Co., Ltd.

In late August, LTG sent a document to the State Securities Commission and the Hanoi Stock Exchange (HNX) requesting a delay in the announcement of its second-quarter financial report and an extension for the announcement of its 2024 semi-annual reviewed financial report.

Previously, Loc Troi wanted to postpone the announcement of its second-quarter financial report for this year until August 30th. Meanwhile, according to regulations, listed companies on the stock exchange must submit their second-quarter financial reports by July 31st.

At the last minute, Loc Troi continued to request an extension of the deadline for announcing its second-quarter financial report and an extension for the announcement of its 2024 semi-annual reviewed financial report.

Loc Troi Group stated that due to unforeseeable events, they were unable to announce the financial report on time.

Comings and Goings

The Board of Directors of Baria Rubber Joint Stock Company (stock code: BRR) has just approved the resignation of Mr. Nguyen Minh Doan – Chairman of the Board of Directors of BRR – due to his transfer to Ben Thanh Rubber Joint Stock Company (stock code: BRC). Mr. Doan has been the Chairman of the Board of Directors of Baria Rubber since June 28, 2021.

In addition to Mr. Doan, Mr. Huynh Quang Trung, a member of the Board of Directors of Baria Rubber, also resigned. Mr. Trung was appointed in September 2016. Both Mr. Doan and Trung resigned on September 17th, which is also the expected date for BRR’s extraordinary general meeting in 2024.

On the other hand, the Board of Directors of Baria Rubber Joint Stock Company has nominated Mr. Pham Hai Duong – Deputy General Director of Vietnam Rubber Industry Group (stock code: GVR) – the parent company of BRR, holding 97.47% of its charter capital – and Mr. Tran Khac Chung, Head of Labor and Wage Department of GVR, to run for the position of members of the Board of Directors of BRR for the term 2021-2026.

Mr. Duong, 58 years old, has been working at GVR for a year now. Meanwhile, Mr. Chung, 56 years old, has been with GVR since December 2010 and has been the Head of the Labor and Wage Department since July 2015.

Searefico Joint Stock Company (stock code: SRF) has just appointed Mr. Nguyen Khoa Dang as its CEO. Conversely, SRF has decided to dismiss Mr. Vu Xuan Thuc from the position of CEO as of September 9th.

Previously, on August 5th, Mr. Thuc submitted his resignation from the position of CEO due to personal reasons and also to create opportunities for talented individuals to lead and take the company to new heights.

It is known that Mr. Thuc is also the Chairman of the Board of Directors of Seareal Real Estate Joint Stock Company, a member of the Board of Directors of Searefico Construction and Technique Joint Stock Company, a member of the Board of Directors of Searee Refrigeration and Electrical Engineering Joint Stock Company, and a member of the Board of Directors of Phoenix Energy & Automation Joint Stock Company.

Standard Chartered Vietnam Bank announces the appointment of Ms. Nguyen Thuy Hanh as CEO and Head of Corporate, Commercial, and Institutional Banking, effective October 1st.

Ms. Nguyen Thuy Hanh is the first Vietnamese to be appointed to the highest leadership position at Standard Chartered Vietnam Bank. With 30 years of industry experience, Ms. Hanh has a deep understanding of the domestic market and experience from international banking.

Since joining Standard Chartered in 1997, Ms. Hanh has held several senior leadership positions, including Financial Institutions Director for Vietnam-Laos-Cambodia markets, Global Corporate and Institutional Banking Director, and Commercial Banking Director.