Pham Nhat Vuong, the primary founder and major financial supporter of VinFast, a Vietnamese electric vehicle manufacturer, has taken over as CEO on January 6th. This change in leadership aligns with the company's intentions for extensive global expansion and increased sales via dealership networks. Vuong, aged 55, replaces Le Thi Thu Thuy, who served as CEO since late 2021. VinFast has announced that Thuy, with a background in finance, will transition to the role of chairwoman, focusing on managing relationships with external stakeholders.
As per the company's statement, Vuong, who serves as the founder and chairman of Vingroup, the largest conglomerate in Vietnam and VinFast's parent organization, will oversee the electric vehicle manufacturer's activities, encompassing global production, sales, and marketing. He becomes the fourth CEO of VinFast, following the tenures of previous CEOs such as James Deluca, a veteran of General Motors, and Michael Lohscheller, who has experience with Opel and Volkswagen.
VinFast made executive changes by appointing Nguyen Thi Lan Anh, responsible for financial matters at Vingroup's EV battery division, as the new chief financial officer. This change replaces David Mansfield, who held the position since 2022. The Board of Directors at VinFast emphasized that the evolution in leadership aligns with the company's progression into its next developmental phase. Established in 2017, VinFast commenced EV manufacturing in 2021 and has consistently received financial backing from Vuong, who holds the title of Vietnam's wealthiest individual according to Forbes. In April 2023, Vuong granted VinFast $1 billion in funding.