Refrigeration and Electrical Engineering Corporation (REE) has just announced that Ms. Nguyen Thi Mai Thanh will no longer hold the position of Chairwoman of the Board of Directors as of November 22nd. Replacing Ms. Thanh in this position is Mr. Alain Xavier Cany, Vice Chairman of the Board of Directors.

Ms. Nguyen Thi Mai Thanh has been appointed as General Director, replacing Mr. Nguyen Minh Quang.

As the person who steered the REE "ship" from its early days to its current status as a renowned corporation, businesswoman Nguyen Thi Mai Thanh is well-known to many.

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Ms. Nguyen Thi Mai Thanh. Photo: REE

In 2014, businesswoman Nguyen Thi Mai Thanh was honored by Forbes magazine, ranking 28th on the list of 48 most powerful businesswomen in Asia (ASIA Power Businesswomen) and one of the 80 richest people on the Vietnamese stock exchange. In 2020, Ms. Thanh stepped down as CEO after 30 years of leadership.

Ms. Thanh holds over 60.4 million shares, equivalent to 12.83%. Mr. Nguyen Ngoc Hai (Ms. Thanh's husband) holds over 25.7 million shares (nearly 5.46%).

In terms of business performance, in the third quarter of 2024, REE recorded net revenue of VND 2,029 billion, unchanged compared to the same period last year. After-tax profit reached VND 562 billion, an increase of 20.9% compared to the previous year.

For the first nine months of 2024, the company's cumulative revenue reached VND 6,048 billion, a decrease of 7% compared to last year. Cumulative after-tax profit reached VND 1,514 billion, a decrease of 29.4% compared to the same period last year.

Platinum Victory Pte. Ltd, a major shareholder, has registered to purchase an additional 30 million shares between November 22nd and December 20th. If the transaction is successfully completed, the organization will increase its shareholding from 168.2 million to 198.2 million shares.