(NLDO)- Mr. Dao Huu Duy Anh, son of Chairman of the Board of Directors of Duc Giang Chemicals Dao Huu Huyen, no longer holds the position of General Director since March 3.
Duc Giang Chemical Group Joint Stock Company (stock code: DGC) has announced the Board of Directors' Resolution on the dismissal of Mr. Dao Huu Duy Anh from the position of General Director - the company's representative from March 3, 2025.
Accordingly, Mr. Luu Bach Dat, Deputy General Director, will replace Mr. Duy Anh in this position. Mr. Dat was born in 1983 and has a degree in chemical engineering.
After leaving the position of General Director, Mr. Duy Anh was appointed as Permanent Vice Chairman of the Board of Directors of the group for the 2024 - 2029 term.
Duc Giang Chemicals said that this dismissal is in accordance with the provisions of the 2020 Enterprise Law. Accordingly, the law stipulates that for public companies, the director or general director must meet the criteria of not being a family member of the business manager, controller of the company and the parent company.
Mr. Dao Huu Duy Anh (born in 1988) has been holding the position of General Director since March 2020. He is the son of Chairman of the Board of Directors of Duc Giang Chemicals Dao Huu Huyen.
Currently, Mr. Dao Huu Duy Anh holds more than 11.4 million DGC shares. With the closing price on March 3 being 113,300 VND/share, the total estimated value is nearly 1,300 billion VND.
Duc Giang's business results in the past 5 years
Regarding the above regulation, previously, TNG Investment and Trading Joint Stock Company (stock code: TNG) was fined for having a leadership structure with the father as chairman and the son as general director.
According to the penalty decision, TNG appointed Mr. Nguyen Duc Manh, son of Chairman of the Board of Directors Nguyen Van Thoi, to the position of general director without ensuring the conditions prescribed by the Law on Enterprises.
This led to TNG Company being fined and required to remove Mr. Nguyen Duc Manh from the position of general director.
In addition, City Auto Joint Stock Company (stock code: CTF) has previously accepted the resignation of Mr. Tran Lam from the position of general director after one month in this position. Mr. Tran Lam is the son of Mr. Tran Ngoc Dan, Chairman of the Board of Directors of City Auto.
Regarding Duc Giang's business results, according to the financial report for the fourth quarter of 2024, the company recorded a revenue of more than VND 9,870 billion in 2024, a slight increase of 1.13% compared to last year. After deducting expenses, profit after tax reached VND 3,110 billion, a decrease of 4.06% compared to 2023.
By the end of 2024, Duc Giang Chemicals completed 96.76% of its revenue target and slightly exceeded its profit target.
In the documents for the 2025 Annual General Meeting of Shareholders recently announced, scheduled to be held on March 31 in Hanoi.
Duc Giang Board of Directors plans to submit to shareholders a business plan for 2025 with revenue of VND 10,385 billion, an increase of more than 5% compared to 2024; profit after tax of VND 3,000 billion, a decrease of more than 3% compared to the same period.
Regarding the basic construction investment plan, the company plans to spend 1,200 billion VND to build the Duc Giang Nghi Son chemical complex, 50 billion VND to complete the Dak Nong alcohol factory, 40 billion VND to research and upgrade and expand the Tia Sang Battery factory...
Regarding profit distribution, Duc Giang plans to pay dividends at a rate of 30%, equivalent to 2023 and 2024.
Source: https://nld.com.vn/con-trai-lanh-dao-lon-nhat-cua-hoa-chat-duc-giang-roi-ghe-tong-giam-doc-196250303221456848.htm
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