A company was fined because the father was the Chairman and the son was the General Director.

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(NLDO) – TNG Investment and Trading Joint Stock Company was forced to dismiss Mr. Nguyen Duc Manh from the position of General Director.

TNG Investment and Trading Joint Stock Company (stock code: TNG) has just announced receiving a penalty decision from the Inspectorate of the Department of Planning and Investment of Thai Nguyen province.

Specifically, the decision clearly states that TNG Investment and Trading Company appointed General Director Nguyen Duc Manh, who has a family relationship with the business manager, Chairman of the Board of Directors Nguyen Van Thoi, which does not meet the prescribed conditions.

TNG stock fluctuations in the past month Source: Fireant

This enterprise was fined 25 million VND and had to remedy the consequences by removing Mr. Nguyen Duc Manh from the position of General Director.

As of November 2024, Mr. Manh holds more than 9.8 million TNG shares, equivalent to 8.01%.

Regarding business performance, in the first 9 months of 2024, the company achieved VND 5,884 billion in net revenue, up 8% over the same period. After deducting expenses, after-tax profit reached nearly VND 241 billion, up 47%.

Source: https://nld.com.vn/mot-cong-ty-bi-phat-vi-bo-lam-chu-tich-con-lam-tong-giam-doc-19625010120161307.htm