Mr. Pham Nhat Vuong directly manages VinFast

Vingroup's Chairman will move from the role of Chairman of VinFast's Board of Directors to take on the position of General Director, directly managing the company.

This senior personnel change has just been announced by VinFast . Ms. Le Thi Thu Thuy will also move from the role of General Director of VinFast to the position of Chairwoman of the Board of Directors. The company also appointed Ms. Nguyen Thi Lan Anh as CFO, replacing Mr. David Mansfield.

According to VinFast, after a period of growth and certain achievements, especially the successful penetration into the North American market and listing on Nasdaq, the Board of Directors determined that this was the right time to rearrange the roles of the leadership members, preparing for the next stage of development.

"As CEO of VinFast, Mr. Pham Nhat Vuong will directly manage operations, including global production, sales and market strategy," VinFast said in a statement. In addition, according to the company, Mr. Vuong is the most suitable person for this position due to his extensive experience in founding and developing VinFast.

Mr. Pham Nhat Vuong, Chairman of Vingroup, CEO of VinFast. Photo: *Vingroup*

Mr. Pham Nhat Vuong has been Chairman of the Board of Directors of VinFast since March 2022. He is also the head of Vingroup, a multi-industry corporation with member companies in a range of fields from industry, technology, real estate to services. Vingroup is currently the parent company of VinFast.

In early 2023, Vingroup's Chairman announced a donation of 1 billion USD to VinFast, Vingroup provided a non-refundable grant of 500 million USD, and lent VinFast 1 billion USD for a maximum period of 5 years. By the end of September 2023, Vingroup had disbursed a loan of 23,000 billion VND and in September, Chairman Pham Nhat Vuong also donated 7,000 billion VND to VinFast. In early October, Mr. Vuong donated another battery manufacturing company with a capital scale of 6,500 billion VND.

Ms. Le Thi Thu Thuy has been the global CEO of VinFast since March 2022. Ms. Thuy joined Vingroup in 2008 as CFO and was later appointed CEO of Vingroup and VinSmart. She left these positions in 2014 and 2021, then assumed the positions of Chairwoman of VinFast and Vice Chairwoman of Vingroup.

VinFast is a subsidiary of Vingroup, established in 2017. In 2022, VinFast has completely switched to producing electric vehicles. Currently, this manufacturer has developed a comprehensive electric vehicle ecosystem including electric SUVs (from minicars to 5 basic segments: ABCDE), electric motorbikes and electric buses.

At the end of 2023, Bloomberg Billionaires Index updated the value of VinFast shares to the assets of Vingroup Chairman. As of the morning of January 6, Mr. Vuong's assets were calculated by Bloomberg to be worth more than 9 billion USD, of which VinFast shares contributed more than 7.3 billion USD. Meanwhile, Forbes currently only calculates the value of Vingroup Chairman's assets based on VIC shares, currently at 4.6 billion USD.

Minh Son

Source link