Tuesday , July 16 2024

Vietnam’s richest man takes over as VinFast CEO

Vingroup chairman and Vietnam’s richest man Pham Nhat Vuong has taken over as CEO of automaker VinFast, swapping his position with Le Thi Thu Thuy, who will become chairwoman.

A new financial director, Nguyen Thi Lan Anh, has been appointed to replace David Mansfield, the company said in a statement Saturday.

“As CEO, Pham Nhat Vuong will directly manage operational activities, including global production, sales and market strategy,” the statement added.

Vuong became the chairman of VinFast in March 2022. He is also the chairman of its parent company Vingroup.

He donated $1 billion to VinFast earlier last year. Vingroup also donated $500 million to the subsidiary and gave it a $1 billion loan for a five-year term.

Vuong is the richest man in Vietnam with net worth of over $9 billion as of Jan. 6, according to Bloomberg.

Le Thi Thu Thuy has been VinFast CEO since March 2022. She joined Vingroup as a financial director in 2008 and later became CEO of Vingroup and smartphone maker VinSmart. She is now the deputy chairwoman of Vingroup.

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