A complete overhaul of senior management personnel.
The restructuring of senior personnel at PG Bank is not yet complete. On October 26th, the bank announced the dismissal and termination of the employment contract of Mr. Do Thanh Cong, Deputy General Director and Director of the Re-evaluation and Approval Division, effective from October 23rd.
Mr. Cong has been working at PG Bank since December 12, 2021. On October 20, Mr. Do Thanh Cong submitted a request to terminate his employment contract prematurely due to personal reasons.
At the extraordinary general meeting of shareholders on October 23rd, PG Bank shareholders also voted to dismiss a number of members of the Board of Directors, and simultaneously elected new members of the Board of Directors and the Supervisory Board.
Accordingly, Mr. Nguyen Phi Hung (Chairman of the Board of Directors), Mr. Nguyen Tien Dung (Vice Chairman of the Board of Directors), Mr. Nguyen Manh Hai (member of the Board of Directors), Mr. Oliver Schwarzhaupt (member of the Board of Directors), Mr. Nilesh Banglorewala (independent member of the Board of Directors), Ms. Duong Anh Tuyet (Head of the Supervisory Board) and Mr. Nguyen Tuan Vinh (member of the Supervisory Board) were dismissed from their positions.
At the same time, the general meeting elected Mr. Pham Manh Thang, General Director, as Chairman of the Board of Directors for the term 2020 – 2025. Mr. Dao Phong Truc Dai, Chairman of the Board of Directors of Viet Hung Industrial Park Development Joint Stock Company, was elected as Vice Chairman of the Board of Directors.
PG Bank also appointed Ms. Dinh Thi Huyen Thanh, Permanent Deputy General Director, as Acting General Director. Mr. Vuong Phuc Chinh, Director of Retail Banking Services, was appointed as a member of the Board of Directors. Mr. Nguyen Thanh Lam, Chairman of the Board of Directors of Dai Duong Xanh Consulting and Investment Joint Stock Company, was appointed as an independent member of the Board of Directors.
Regarding the new members of the Supervisory Board, Mr. Tran Ngoc Dung, Head of Internal Audit at PG Bank, was elected as the Head of the Supervisory Board. Mr. Trinh Minh Hoan, former Chief Auditor – Sector I, State Audit Office, was elected as a member of the Supervisory Board.
Who are the Chairman and Vice Chairman of the Board of Directors?
Among the new members of PG Bank's Board of Directors, Mr. Dao Phong Truc Dai not only stands out because of his impressive name, but also because he manages several businesses within the Thanh Cong Group ecosystem.
Mr. Truc Dai was born in 1975 in Hai Phong . He is currently the General Director and a member of the Board of Directors of PV – Inconess Investment Joint Stock Company (RGC). RGC operates in many fields, with its main focus being golf courses.
In the third quarter of 2023, RGC achieved revenue of nearly 33 billion VND, a 35% increase compared to the same period last year, mainly from golf services. However, RGC still incurred a loss of 4.4 billion VND in the third quarter. For the first nine months of the year, the company achieved revenue of 100 billion VND and a net loss of 8.6 billion VND. Furthermore, this company has reported losses for 12 consecutive years, with accumulated losses totaling 169 billion VND.
RGC is currently implementing two major projects in Tam Diep town and Yen Mo district, Ninh Binh province, including the Yen Thang Lake 54-hole golf course and integrated tourism and sports complex, covering an area of 670 hectares with a projected total investment of 103 million USD, and the Dong Thai Lake eco-tourism area project, covering an area of 2,185 hectares with a projected total investment of 369 million USD.
RGC is essentially a business within the ecosystem of Thanh Cong Group. In 2018, RGC approved the transfer of 75% of its shares to TCG Land Co., Ltd., a company wholly owned by Thanh Cong Group Joint Stock Company, without requiring a public tender offer.
Currently, the Chairman of the Board of Directors of RGC, Mr. Nguyen Anh Tuan, is also the Chairman of the Board of Directors of Thanh Cong Group.
In addition to his roles as Vice Chairman of the Board of Directors of PG Bank, General Director of PV – Inconess (RGC), and Chairman and General Director of Viet Hung Industrial Park Development Joint Stock Company, Mr. Dao Phong Truc Dai is also the legal representative of businesses within the Thanh Cong Group ecosystem, such as: Vietnam Automotive Industry Development Company Limited, Representative Office of Thanh Cong Viet Hung Technology Complex Industrial Park Joint Stock Company, Representative Office of Thanh Cong Quang Ninh Company Limited, and Representative Office of The Five Ha Long Company Limited.
It is known that during the period 1996-2004, Mr. Truc Dai worked in the transportation sector and participated in a series of projects nationwide.
From July 2004 to September 2007, he served as Deputy Head of the Bidding Project Department, then Head of the Project Management Department, Thanh An Corporation - Ministry of National Defense. After that, Mr. Truc Dai became Deputy Head of the Trung Hoa - Nhan Chinh Apartment Complex Project Management Board.
March 2008 marked a milestone when Mr. Truc Dai began participating in the real estate sector as Deputy Director of Military Bank Real Estate Company and Director of My Dinh Real Estate Investment Joint Stock Company.
In September 2013, he became Deputy General Director of PV-Inconess and has been a member of the company's Board of Directors from 2014 to the present. From 2016 to the present, he has served as a member of the Board of Directors and General Director of PV-Inconess.
Meanwhile, the new Chairman of the Board of Directors of PG Bank, Mr. Pham Manh Thang, born in 1962, formerly the Deputy General Director of Vietcombank, retired on May 1, 2023.
Two months after receiving his retirement notice, in July 2023, Mr. Thang was appointed acting General Director of PG Bank, replacing Mr. Nguyen Phi Hung, who was then elected Chairman of the Board of Directors.
On October 23rd, PG Bank's extraordinary general meeting elected Mr. Pham Manh Thang as Chairman of the Board of Directors for the 2020-2023 term.
Mr. Thang holds a PhD in Economics from the Banking Academy; a Bachelor's degree in Applied Mathematics Engineering from Hanoi University of Science and Technology; and a Bachelor's degree in Economics from the National Economics University.
He previously worked at the State Bank of Vietnam in Quang Ninh province; served as Deputy Director of Vietcombank's Quang Ninh branch and then as Director of Vietcombank's Hai Duong province branch.
In March 2014, he was appointed Deputy General Director of Vietcombank until his retirement.
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