Mr. Đặng Huy Hiệp
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According to a letter submitted to the Board of Directors of SMC, Mr. Đặng Huy Hiệp (born in 1961) has resigned effective January 6, 2026, citing advanced age and declining health. He also mentioned that the company is undergoing a rigorous restructuring phase, requiring younger and more capable personnel to achieve optimal results. Following his departure as CEO, Mr. Hiệp will be appointed as an Advisor to the Board of Directors of SMC. This decision takes effect on January 7, 2026.
In his place, Mr. Nguyễn Quang Trung will assume the role of CEO of SMC. Currently, he serves as the CEO of AHD Trading Investment Company Limited and Connect Log Vietnam Company Limited.
The Overhaul at SMC Steel Company
Just one week prior, the Board of Directors of SMC approved the dismissal of three members: Mr. Fujitsuka Masahiko, Mr. Nguyễn Hữu Kinh Luân, and Mr. Vũ Anh Nguyên—all independent board members. Simultaneously, Mr. Nguyễn Quang Trung was removed from his position as a member of the Supervisory Board.
In a contrasting move, Mr. Nguyễn Quốc Thắng—husband of Vice Chairwoman and Deputy CEO Nguyễn Ngọc Ý Nhi—was appointed Deputy CEO effective January 1, 2026. Mr. Thắng has extensive experience managing two subsidiary companies: SMC Hiệp Phước and SMC Steel.
These changes follow significant shifts from the Extraordinary General Meeting of Shareholders in late September 2025, when a new group of shareholders holding over 20% of the shares officially gained control. Ms. Nguyễn Thị Ngọc Loan resigned as Chairwoman of the Board of Directors, ceding her position to Mr. Phạm Hoàng Anh. Mr. Phạm Hoàng Anh also serves as Deputy CEO.
According to Mr. Phạm Hoàng Anh, the top priority is addressing outstanding debts and completing the restructuring process. The roadmap includes resolving bad debts, overhauling the governance system, renegotiating with partners, and ultimately issuing shares to raise capital.
Recently, SMC has been continuously selling assets to address capital shortages. The company has announced the sale of HBC shares and assets from two subsidiaries: SMC Mechanical Engineering Company Limited and SMC Steel Company Limited.
Additionally, SMC has transferred a land plot numbered 1032, map sheet 09, located in Phú Mỹ Ward, Thu Duc City, Ho Chi Minh City, with an area of 53,880.5m². This industrial land has a usage term until September 12, 2048, and is considered one of SMC‘s most valuable assets.
– 09:55 08/01/2026
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