Vinhomes chairman steps down, new chairwoman takes over

By Nguyen Ha March 1, 2019 | 03:01 am PT

Pham Nhat Vuong steps down as Vinhomes's board chairman. Photo by VnExpress/Minh Son

Pham Nhat Vuong has stepped down as Vinhomes chairman, the residential property arm of Vingroup, Vietnam's biggest private conglomerate.

As per the outgoing chairman’s recommendation, Nguyen Dieu Linh, 45, has been appointed as Vinhomes chairwoman. No reason was mentioned for this move.

Linh was earlier the vice president and general director of Vinhomes, representing more than 1.1 million of Vinhome shares (34.83 percent) owned by Vingroup.

According to its financial report, Vinhomes's pre-tax profit reached more than VND19.6 trillion (more than $841 million) last year. Its share value rose the highest on the stock exchange too.

Vinhomes' total assets were valued at nearly VND117.81 trillion (more than $5 billion) at the end of last year.

Vuong, who heads the Vingroup conglomerate, is 198th on the real time billionaires ranking updated by the Forbes magazine on February 16.

His net worth has increased by $3.2 billion over last year, when he topped Forbes’ list of four Vietnamese billionaires.