Mr. Dang Huy Hiep
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According to a letter submitted to the Board of Directors of SMC, Mr. Dang Huy Hiep (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. Hiep will be appointed as an Advisor to the SMC Board of Directors. This decision takes effect on January 7, 2026.
In his place, Mr. Nguyen Quang Trung will assume the role of CEO of SMC. Currently, he serves as the CEO of AHD Trading Investment LLC and Connect Log Vietnam LLC.
The Overhaul at SMC Steel Company
Just one week prior, the SMC Board of Directors approved the dismissal of three members: Mr. Fujitsuka Masahiko, Mr. Nguyen Huu Kinh Luan, and Mr. Vu Anh Nguyen—all independent board members. Simultaneously, Mr. Nguyen Quang Trung was removed from his position as a member of the Supervisory Board.
In a contrasting move, Mr. Nguyen Quoc Thang—husband of Vice Chairwoman and Deputy CEO Nguyen Ngoc Y Nhi—was appointed Deputy CEO effective January 1, 2026. Mr. Thang has extensive experience managing two subsidiaries: SMC Hiep Phuoc 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. Nguyen Thi Ngoc Loan resigned as Chairwoman of the Board of Directors, ceding her position to Mr. Pham Hoang Anh. Mr. Pham Hoang Anh also serves as Deputy CEO.
According to Mr. Pham Hoang 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 LLC and SMC Steel LLC.
Additionally, SMC has transferred plot number 1032, map sheet number 09, located in Phu My Ward, Thu Duc City, Ho Chi Minh City, with an area of 53,880.5 m². 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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