Eldest Son of Billionaire Pham Nhat Vuong Appointed CEO of VinMetal, Do Tien Si Returns to Restructure Pomina

VinMetal’s recent leadership reshuffle comes on the heels of its capital increases and organizational restructuring since its establishment in early October. According to the latest announcement, Mr. Pham Nhat Quan Anh will take over as CEO of VinMetal, succeeding Mr. Do Tien Si.

The newly appointed CEO of VinMetal currently serves on the Board of Directors of VinFast and has held key management positions, including Executive Vice President of Global After-Sales at the electric vehicle manufacturer.

This leadership transition aims to facilitate Mr. Do Tien Si’s return to helm Pomina Steel. Mr. Si, who was appointed CEO of VinMetal in early November 2025, boasts 30 years of experience in the steel industry and is the brother of Mr. Do Duy Thai, Chairman of Pomina. At Pomina, Mr. Si will spearhead the company’s recovery and restructuring strategy in its new phase.

Alongside the leadership changes, Vingroup and Pomina have forged a strategic partnership. Vingroup has pledged a zero-interest working capital support package for Pomina, valid for up to two years. This funding is designed to help Pomina restore its supply chain, improve cash flow, and stabilize production, ultimately revitalizing its financial metrics.

In addition to financial support, Vingroup has designated Pomina as a priority supplier for its entire ecosystem, including subsidiaries such as VinFast, Vinhomes, and VinSpeed. This move aligns with Vingroup’s strategy to increase the localization of raw materials, particularly for large-scale infrastructure and industrial projects currently underway.

Established on October 6, VinMetal is poised to enter the metallurgical industry. Vingroup holds 98% of its equity, with the two sons of Mr. Pham Nhat Vuong each owning 1%. By November 13, shareholders had injected additional capital, raising the charter capital from VND 10 trillion to VND 15 trillion.

VinMetal’s product portfolio includes civil steel, hot-rolled steel, high-strength steel, and specialty alloy steel. These products are primarily targeted at electric vehicle manufacturing, real estate construction, and major infrastructure projects such as the North-South high-speed railway and urban rail lines in Ho Chi Minh City and Hanoi.

Vingroup’s support and Mr. Do Tien Si’s return come at a critical time for Pomina, which faces significant financial challenges. As of the end of 2024, the company reported an accumulated loss of over VND 2.6 trillion after 11 consecutive quarters of losses. The infusion of preferential capital and stable demand from Vingroup’s ecosystem is expected to be pivotal in helping the former “steel king” regain growth momentum and strengthen its domestic market position.