CTCP Hoàng Anh Gia Lai (HAGL, HAG) has just announced information regarding the resignation letter of Mr. Võ Trường Sơn, the CEO. The reason for the resignation is personal, and Mr. Sơn has requested the Board of Directors to approve his resignation from February 7, 2024.
Mr. Sơn was born in 1973 and graduated with a Master’s degree in Finance. Prior to joining HAGL, he worked for A&C Auditing and Consulting Company from August 1996 to November 2003, and then served as Senior Audit Manager at Ernst & Young Vietnam Co., Ltd.
In October 2008, Mr. Sơn joined HAGL. In 2015, he was officially appointed as CEO and a member of the Board of Directors of the Group. Therefore, Mr. Sơn has worked for HAGL for 16 years and has been CEO of the company for 9 years.
On the other hand, HAGL has appointed Mr. Nguyễn Xuân Thắng as the new CEO and legal representative to replace Mr. Sơn. The appointment is effective from February 7, 2024 to February 6, 2029. Mr. Thắng, born in 1977, is from Nam Định and holds a Bachelor’s degree in Economics. He joined HAGL in 2007 and is currently a member of the Board of Directors of HAGL.
The change in the position of CEO of HAGL comes at a time when the Group is restructuring, with the main directions being debt repayment and investment in core agricultural development. HAGL is also about to welcome new strategic shareholders, LPBS and LPBank.
According to the plan to raise 1,300 billion VND from the upcoming sale of 130 million shares, HAGL said it will set aside 346.7 billion VND to prepay the entire principal and interest of the HAG2012.300 bonds issued by ACB Securities Company on June 18, 2012.
Recently, on February 2, the Company also announced the payment of the principal amount of 357.5 billion VND for the HAGLBOND16.26 bonds issued on December 30, 2016. The next payment is scheduled for the first quarter of 2024. Previously, on January 15, HAGL had already paid 84.5 billion VND of principal for this bond.
In terms of business performance, in the fourth quarter of 2023, HAGL recorded a net revenue of 1,898 billion VND and a net profit of 1,007 billion VND, an increase of 16% and 323% respectively compared to the same period last year. For the whole year, HAGL recorded a net profit of 1,709 billion VND, more than 1.5 times higher than the previous year.
As of December 31, 2023, the company’s total assets increased by 1,729 billion VND compared to the beginning of the year, equivalent to a 9% increase to 21,528 billion VND. It is worth noting that HAGL increased investment in expanding fixed assets by an additional 1,577 billion VND, reaching 5,399 billion VND.
