Monday , June 17 2024

Wife takes over from arrested CEO of beverage firm Tan Hiep Phat

Pham Thi Nu has taken over from her arrested husband Tran Qui Thanh as CEO and legal representative of Tan Hiep Phat Group with effect from May 15.

Nu, 66, was the co-founder of the beverage giant, and owns stakes in many companies in the Tan Hiep Phat ecosystem.

David Riddle, deputy chairman, is also a legal representative.

Thanh, 70, was arrested on April 11 for alleged illegal appropriation of property.

Thanh’s daughter Tran Uyen Phuong, 40, was also arrested and Tran Ngoc Bich, 39, is under investigation but left out of custody, for allegedly colluding with their father. Both are deputy general directors of THP.

The daughters had been part of the company management.

Tan Hiep Phat had said at the time the arrests would have an impact on its operations though the private transactions of the three individuals did not have anything to do with the company.

Tan Hiep Phat, founded in 1994 and the largest beverage producer in Vietnam, is famous for its herbal tea and energy drinks.

Many of the shareholders of the company and its subsidiaries are Thanh’s relatives.

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