Why did Viettel Post Chairman resign?

Viettel Post Joint Stock Corporation   (Viettel Post, stock code: VTP) recently announced information about receiving the resignation letter from the position of Chairman of the Board of Directors and member of the Board of Directors of Mr. Nguyen Thanh Nam. In the letter, Mr. Nam asked to resign from the positions for personal reasons.

Mr. Nguyen Thanh Nam has held the position of Chairman of the Board of Directors of Viettel Post since April 2021. Previously, in 2018, Mr. Nam was Deputy General Director of the Military Industry - Telecommunications Group (Viettel).

Viettel Post is a member unit of Viettel Group, providing domestic and international express delivery services, logistics services...

The financial report for the second quarter of 2024 shows that Viettel Post recorded revenue of VND4,945 billion, a slight increase of 5.7% over the same period last year. However, after deducting expenses, profit after tax decreased by 5%, reaching only VND93 billion.

Mr. Nguyen Thanh Nam Source: Viettel

Mr. Nguyen Thanh Nam's working process. Source: Viettel Post

In the first 6 months of the year, Viettel Post brought in nearly VND9,620 billion in revenue, a slight decrease compared to the same period last year, resulting in a 12% decrease in after-tax profit to VND152 billion. Compared to the target, this enterprise has completed 73% of revenue but the whole year's profit only reached 41%.

In the market, VTP shares will be officially listed and traded on HOSE from March 12, 2024.

This stock then attracted attention when it continuously had many strong increases and once reached the price range of nearly 99,000 VND/share in the trading session in June 2024, the highest level in history.

However, in the following sessions, VTP shares fell sharply and closed the session on August 21 at only VND77,100/share, but compared to the time of the transfer, this stock increased by nearly 18%.

Source: https://nld.com.vn/vi-sao-chu-tich-viettel-post-tu-nhiem-1962408211701027.htm