Why did all three leaders of Tien Phong Securities Company resign in one day?

(NLDO) – All three members of the Board of Directors of Tien Phong Securities Company were appointed in April last year.

Tien Phong Securities Joint Stock Company (TPS, stock code ORS) announced that it has just received 3 resignation letters from members of the Board of Directors (BOD), including Mr. Le Quoc Hung, Mr. Ta Quang Luong and Ms. Nguyen Thi Le Tung.

All three leaders resigned for personal reasons.

Notably, all three members of the Board of Directors were appointed in April last year.

As planned, TPS's 2025 annual shareholders' meeting, taking place at the end of June, will approve the dismissal of the above Board of Directors members.

With the above series of resignations, the total number of TPS Board members who have recently withdrawn has reached 4 people, out of a total of 7 members.

Previously, on March 18, Mr. Do Anh Tu, Chairman of the Board of Directors of TPS, also resigned for personal reasons and withdrew from the position of member of the Board of Directors of TPBank , the parent bank of TPS.

TPS has had a series of recent high-level personnel changes.

In 2025, TPS targets revenue of VND 1,379 billion and after-tax profit of VND 111 billion, down nearly 35% and about 70% compared to the same period last year.

In the first quarter of 2025, the company recorded revenue of VND446 billion (down 7%) and a loss after tax of VND7.2 billion, while in the same period last year, it still made a profit of more than VND75 billion.

TPS's Board of Directors said that in the face of economic challenges, fierce competition in the industry and difficulties in the bond market, the company has built a cautious 2025 plan, focusing on risk management and ensuring capital safety.

ORS stock price has fallen sharply recently

Regarding stocks, as of the morning trading session on June 23, ORS shares decreased by 2.45% to VND9,140/share, losing more than 40% in just over two months.

Source: https://nld.com.vn/vi-sao-ca-ba-lanh-dao-cong-ty-chung-khoan-tien-phong-xin-tu-nhiem-trong-1-ngay-196250623093608222.htm