Chairman of Ha Do Group resigned

DNHN - The Chairman of Ha Do Group has announced his resignation and has been preparing a succession plan, which was mentioned during the annual general meetings in 2022 and 2023.

Ha Do Group (stock code: HDG) has announced that Nguyen Trong Thong, the founder of the company, has submitted his resignation from the position of Chairman of the Board of Directors (BOD). In his resignation letter, Mr. Thong stated that he has thoroughly prepared for his resignation, the handover of his position, and his withdrawal from the BOD. He has been building a succession team and has voiced his intentions during the annual general meetings in 2022 and 2023. Due to age, health reasons, and to ensure compliance with regulations regarding related persons, he has decided to resign from the Chairman position and leave the BOD.

Despite this, Mr. Thong acknowledges that the BOD might be concerned about the impact of his resignation on the company’s operations. Therefore, he is willing to continue supporting and advising the BOD after the transition, in the role of "Founding Chairman" to help ensure stability and efficiency for shareholder investments.

Currently, Mr. Thong’s son, Nguyen Trong Minh, holds the position of Vice Chairman of the BOD and Deputy General Director at Ha Do Group.

Mr. Nguyen Trong Thong, born in 1953, is 71 years old this year and owns over 97.3 million HDG shares, equivalent to 31.83% of the company’s capital. With the closing price on July 25th being 28,500 VND per share, Mr. Thong’s stock assets are valued at nearly 2,800 billion VND.

Ha Do Group was founded in 1990, originally as a construction enterprise under the Military Technical Institute, tasked with combining scientific research and economic activities. In 1993, the enterprise was transformed by the Ministry of Defense into Ha Do Construction Company. Mr. Thong has been associated with Ha Do since its inception and laid the foundation for the group's development.

After nearly 34 years of formation and development, Ha Do has become the investor in many major real estate projects in Hanoi and Ho Chi Minh City. Since 2006, the group has ventured into the energy sector, currently having 2 solar power projects, 1 wind power project, and 5 hydropower projects.

P.V