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Sunday, June 26, 2022

Thuduc House again sees leadership shakeup

The Saigon Times

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HCMC – Nguyen Huy Hoang, an independent board member of Thuduc Housing Development Corporation (TDH), will assume the post of Thuduc House chairman, replacing Duong Ngoc Hai who has tendered his resignation for personal reasons.

This is the third time this year that Thuduc House has changed its board chairman.

In its resolution issued yesterday, June 9, the board of the firm decided to relieve Hai from the post of board chairman following his request. Hai still serves as an independent board member of the company.

Hai was picked as TDH chairman on March 22 this year to replace Lu Minh Son.

New Chairman Nguyen Huy Hoang joined the board of directors at Thuduc House in late April this year.

In early February, Le Chi Hieu, who had been serving as chairman of the firm for nearly three decades, resigned, citing his health problems. Then, Lu Minh Son took over as caretaker chairman. As earlier planned, Son would hold this post until TDH organizes its 2022 annual shareholders general meeting. However, in mid-March, Son decided to quit.

Overall, within nearly five months, up to four persons have assumed the post of Thuduc House chairman. Besides, many others holding key positions have left the firm, including Le Chi Thu Khoa, a younger brother of Hieu.

Despite the leadership shakeup, TDH still closed the session today, June 10, up 1.17% against the previous session at VND6,910 amidst the widespread bearish sentiment.

On the Hochiminh Stock Exchange, the VN-Index shed 23.72 points, or 1.81% over the session earlier at 1,284.08, with 85 winners and 375 losers. More than 603 million shares worth over VND16.9 trillion were transacted on the southern bourse, rising over 29% in volume and over 33% in value against the previous session.

The HNX-Index on the northern bourse lost 6.29 points, or 2.01%, against yesterday at 306.44, with 61 advancers and 160 decliners.

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