Shareholders want Eximbank chairwoman dismissed two days after seeking her appointment

The group, represented by Tran Hoang Ninh, wrote to the bank’s board of directors Friday.

Ninh claimed Phuong showed signs of taking advantage of shareholders’ trust for her own benefit.

Phuong called a board meeting by herself on June 28 to appoint new directors and dismiss the previous chairwoman without the approval of shareholders, she said.

Director and former chairwoman Luong Thi Cam Tu confirmed to VnExpress that she had received the petition to dismiss Phuong from Ninh’s shareholder group.

But the bank said in a release Friday evening that all procedures to dismiss Tu and appoint Phuong in her place were done according to the law and the bank’s policies.

The State Bank of Vietnam has sought a report on the issue from the bank.

Phuong, 39, who has over 15 years’ experience in the finance-banking industry became a director in 2022 and chairwoman this week.

Eximbank has been going through rapid senior management changes for the last four years, mostly because of conflicts between groups of shareholders.