SMC Turmoil: Chairman Resigns, New Shareholder Group Acquires Over 20% Stake
Over the past five days, three board members—Mr. Nguyễn Vũ Kinh Luân, Mr. Vũ Anh Nguyên, and Mr. Fujitsuka Masahiko—have submitted their resignations. Both Mr. Luân and Mr. Nguyên confirmed that their decisions stem from the board’s collective strategy to streamline and restructure the management framework. Additionally, Mr. Nguyễn Quang Trung, a member of the Supervisory Board, has also resigned.
This move aligns with the personnel streamlining resolution previously announced by the SMC Board of Directors. According to the plan, the board will be reduced from seven members to five, while the Supervisory Board will maintain four members.
This wave of personnel changes follows the turbulence from the extraordinary shareholders’ meeting held in late September 2025, where a new shareholder group holding over 20% of the shares officially emerged. At that time, Ms. Nguyễn Thị Ngọc Loan resigned as Chairwoman of the Board, ceding her position to Mr. Phạm Hoàng Anh, who represents the new shareholder group.
During the extraordinary meeting, Chairman Phạm Hoàng Anh stated that the company’s top priority is addressing outstanding debt and completing restructuring efforts within the year. Subsequently, SMC will overhaul its governance and management systems, renegotiate terms with suppliers and customers to enhance business efficiency, and finally, proceed with a capital increase.
– 16:13 11/11/2025
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