According to the explanatory document of VNG Corporation (Upcom: VNZ) sent to Hanoi Stock Exchange (HNX) dated September 10 and posted on HNX's website on the afternoon of September 11, VNZ said that Mr. Le Hong Minh is still the group's general director.

VNG confirmed that it did not appoint Mr. Wong Kelly Yin Hon to replace Mr. Le Hong Minh. Accordingly, Mr. Kelly is only carrying out the assignment and task assigned by Mr. Minh to support the management, ensure the company's operations as well as protect the rights and interests of shareholders.

VNG also said that it has not received a resignation letter from Mr. Le Hong Minh. Therefore, Mr. Minh is still the general director - the legal representative of VNG Corporation. The company's operations, production and administration are taking place normally.

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VNG's document confirms that Mr. Le Hong Minh is still the group's general director.

Previously, late on September 6, VNG sent a press release announcing that Mr. Kelly Wong, Deputy General Director of VNG, would take on the position of acting General Director, ensuring that VNG's operations continue to operate stably and effectively.

The fact that VNG has two leaders holding the positions of general director (Wong Kelly) and general director (Le Hong Minh) at the same time makes many investors question: Who is the representative of this corporation? If they have both the positions of general director and general director at the same time, is it illegal?

Discussing this issue, Mr. Nguyen The Truyen, Director of Thien Thanh Law Firm, said that since 2015, the Enterprise Law has allowed an enterprise to have more than one legal representative.

Therefore, according to lawyer Nguyen The Truyen, a business having more than one CEO does not violate any current legal regulations.

According to information from VNG, Mr. Kelly Wong is the Deputy General Director of Online Games at VNG. In this position, Mr. Kelly is responsible for managing activities related to the online game business segment, and is also the person who provides strategies and business development directions for the entire VNG.

Prior to joining VNG, Mr. Kelly had 17 years of experience working in various business sectors in Vietnam, with senior positions: Deputy General Director of KIDO Group, Executive Chairman of Red Wok Investment (RWI), CEO of Ho Chi Minh Securities Company (HSC).

Through various roles, Mr. Kelly Wong has focused on developing investment and M&A experience across a wide range of industries, including food & beverage, media, advertising, mobile telecommunications, pharmaceuticals, retail and real estate.

Mr. Kelly is a Canadian citizen, originally from Hong Kong (China), and studied at the University of British Columbia (in Vancouver, Canada) and the McRae Institute of Management at Capilano University, Canada.

Mr. Le Hong Minh is the founder and former chairman of the technology unicorn VNG Corporation with many products: Zalo social network, ZaloPay wallet, a series of famous games Vo Lam Truyen Ky... He is the largest individual shareholder of VNG.

Before selling about 3.4% of VNG shares to BigV Company in August 2023, Mr. Minh held nearly 12.3% of VNG shares.

VNG was established in 2004, originally named VinaGame Joint Stock Company, with a charter capital of 15 billion VND. After many capital increases, VNG's capital scale has reached hundreds of billions of VND. After two decades, VNG has become Vietnam's first technology unicorn, at one point valued at more than 2 billion USD.

VNZ shares were listed on Upcom in early 2023, then jumped to over VND1.56 million/share in mid-February 2023 and are currently at VND409,600/share. The peak capitalization was USD2.3 billion and now is nearly VND12 trillion.

'Reckless player' Le Hong Minh: The career of playing and making top-notch games reaches a 'sharp turn' Mr. Le Hong Minh is the founder, former chairman and CEO of the technology unicorn VNG Corporation (Vinagame) with many products: Zalo social network, ZaloPay wallet, a series of famous games Vo Lam Truyen Ky...