Billionaire Pham Nhat Vuong becomes CEO of VinFast

On January 6, VinFast, Vietnam's leading electric vehicle manufacturer, announced a change in its leadership as the company enters a new phase of development.

Mr. Pham Nhat Vuong is the general director of VinFast - Photo: Vingroup

Accordingly, Mr. Pham Nhat Vuong, founder and chairman of Vingroup, the parent company of VinFast, will move from the role of chairman of the board of directors of VinFast to assume the position of general director of VinFast, replacing Ms. Le Thi Thu Thuy. The Vietnamese carmaker billionaire will also take over the position of CEO. At the same time, Ms. Le Thi Thu Thuy will move from the role of general director of VinFast to assume the position of chairwoman of the board of directors. The company also announced the appointment of Ms. Nguyen Thi Lan Anh as the new chief financial officer, replacing Mr. David Mansfield. After VinFast's strong growth and impressive business achievements in recent years, especially the company's successful penetration into the North American market as well as its listing on the US stock exchange, the board of directors determined that this was the right time to rearrange the roles of the leadership members to prepare for the next stage of development. According to Ms. Le Thi Thu Thuy, the Vietnamese automaker has developed one of the most diverse ranges of electric vehicles in a record time and successfully entered the global automobile market. "I am proud of VinFast's achievements," Ms. Thuy said. "With a strong manufacturing foundation, a growing distribution network and the support of a talented team, VinFast is well positioned to accelerate its global expansion. I truly believe that VinFast will continue to grow strongly thanks to Mr. Pham Nhat Vuong's leadership and business acumen. I look forward to continuing to work with Mr. Pham Nhat Vuong and the leadership team in a new role to lead and promote the continuous development of VinFast," Ms. Thuy emphasized.

Ms. Thuy also shared: "Although my title has changed, I will continue to engage with external partners and VinFast's fundraising activities. I look forward to continuing discussions with investors as we execute our ambitious development strategy. Finally, as Chairman of the Board, I will also focus on the mission of VinFast and ensure the company's high governance standards are maintained." As CEO of VinFast, Mr. Pham Nhat Vuong will directly manage operations, including global manufacturing, sales and market strategy. The Board believes that Mr. Pham Nhat Vuong is the most suitable person for the position of global CEO of VinFast because of his valuable experience gained from founding and developing VinFast. Mr. Pham Nhat Vuong is also the leader of Vingroup, the largest multi-industry corporation in Vietnam with market-leading enterprises in a range of fields from industry, technology, real estate to services.

Mr. Pham Nhat Vuong - Chairman of the Board of Directors of Vingroup Corporation - Photo: D.H.

Mr. Pham Nhat Vuong - who has been the Chairman of the Board of Directors of VinFast since March 2022 - is the Chairman of the Board of Directors of Vingroup Corporation, the parent company of VinFast. Mr. Pham Nhat Vuong is the first Vietnamese billionaire to be named in the list of world billionaires published by Forbes magazine in 2013. Ms. Le Thi Thu Thuy, who is currently the Chairman of the Board of Directors of VinFast, will hold the position of Executive Director of the Board of Directors and Global CEO from March 2022. She joined Vingroup in 2008 as CFO, and was later appointed CEO of Vingroup and VinSmart. She left these positions in 2014 and 2021. She has served as chairwoman of VinFast and vice chairwoman of Vingroup since the company was founded in 2017. Ms. Nguyen Thi Lan Anh, who is the CFO, joined Vingroup in 2020. She has extensive knowledge of the company's operations, including the manufacturing and supply chain, from her roles as deputy general director of finance & operations and chief financial officer of VinES Energy Solutions Joint Stock Company ("VinES"), the battery manufacturing company of Vingroup. She is also a senior member of the Association of Chartered Certified Accountants (FCCA) and a member of the Institute of Certified Public Accountants of Australia (CPA).

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