Novaland changes its leadership.

(NLĐO) - From November 1st, Mr. Duong Van Bac will assume the position of General Director of Novaland, replacing Mr. Dennis Ng Teck Yow.

Novaland Investment Group Joint Stock Company (Novaland-NVL) announced on November 1st a resolution of the Board of Directors appointing Mr. Duong Van Bac as the company's General Director, replacing Mr. Dennis Ng Teck Yow.

According to Novaland, this is part of a plan to strengthen its senior leadership team, making a significant contribution to the group's comprehensive restructuring process.

After stepping down as CEO, Dennis Ng Teck Yow will focus on his duties as a member of the Novaland Board of Directors.

Mr. Dennis Ng Teck Yow has been appointed as the General Director of Novaland, replacing Mr. Nguyen Ngoc Huyen, effective March 17, 2023.

Mr. Duong Van Bac has over 17 years of experience in the finance and real estate sectors, with extensive expertise in fundraising, investment, and valuation.

The new CEO of Novaland only joined the company in August 2023 as Chief Financial Officer, and was subsequently appointed Deputy CEO in September 2024.

NovaWorld Phan Thiet - a key project of Novaland.

On Novaland's part, after more than 20 months of comprehensive restructuring, the company has successfully restructured most of its current debts and simultaneously arranged and mobilized many new sources of capital to accelerate project construction.

Novaland has just announced its Q3 business results, with profits exceeding 2,000% compared to the same period last year, reaching over VND 2,950 billion. For the first nine months of the year, Novaland's total revenue reached VND 4,295 billion thanks to the handover of projects including NovaWorld Phan Thiet, NovaWorld Ho Tram, and Aqua City.

Currently, a series of key projects such as NovaWorld Ho Tram, NovaWorld Phan Thiet, Aqua City… and clusters of projects in the heart of Ho Chi Minh City are continuously being accelerated in construction, speeding up the commissioning of diverse amenities, and promoting handover and issuance of ownership certificates to residents.

Source: https://nld.com.vn/novaland-bat-ngo-thay-tong-giam-doc-196241101145508807.htm