Mr. Duc's company has a new general director.

The company appointed Mr. Nguyen Xuan Thang as CEO and legal representative of the enterprise.

This is the information just announced by Hoang Anh Gia Lai Joint Stock Company (HAG) in the board resolution dated February 7.

Accordingly, on February 7, the company received a resignation letter from Mr. Vo Truong Son as General Director for personal reasons. Immediately after that, the company appointed Mr. Nguyen Xuan Thang as CEO and legal representative of the company.

Mr. Thang was born in 1977, has a bachelor's degree in economics , majoring in corporate finance. From 2007 to present, Mr. Thang has worked at Hoang Anh Gia Lai Joint Stock Company.

Mr. Son was born in 1973 and graduated with a master's degree in finance. He worked at major auditing firms such as A&C and Ernst & Young before joining Hoang Anh Gia Lai in 2008.

In 2015, the company appointed Mr. Son as general director. He has worked for Hoang Anh Gia Lai for 16 years and held the highest position in the group's board of directors for 9 years.

Mr. Duc (second from right), Mr. Vo Truong Son (third from right) at the investor meeting in December 2023. Photo: HAGL

The high-level personnel changes at this company come as the company is restructuring both its business operations and finances.

Since September 2023, the company has been continuously selling assets to pay off debts. Sharing at the 2023 year-end investor meeting in Ho Chi Minh City, Mr. Doan Nguyen Duc (Bau Duc) - Chairman of the Board of Directors of HAG, said that last year, Hoang Anh Gia Lai Hotel was sold for 180 billion VND and in the fourth quarter, the company converted shares of Hoang Anh Gia Lai University of Medicine and Pharmacy Hospital. In the near future, it will continue to liquidate this asset. During the year, the company also paid off the Eximbank debt of 750 billion VND and received a 1,000 billion VND interest reduction.

In 2023, the company recorded net revenue of nearly 7,000 billion VND , an increase of 36% over the previous year, with net profit reaching more than 1,800 billion VND . This is the highest profit in the past 13 years of business of this mountain town enterprise.

Regarding the plan to issue 130 million shares privately, Mr. Duc said all procedures have been completed and he is waiting for feedback from the authorities.

This year, the company will plant more durian and increase the area to 2,000 hectares. It is estimated that this year the company will have about 300-400 hectares of durian in Vietnam and Laos for harvest.

As of December 31, 2023, the company's debt is VND 14,802 billion, of which long-term debt decreased by more than VND 1,000 billion to VND 4,194 billion.

According to Mr. Duc, with an effective business plan, it is expected that this year the company will eliminate accumulated losses and by 2026 there will be no more debt.

Closing the trading session on February 7, this stock price decreased to 13,150 VND per share.

Thi Ha

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