Ocean Group leaders resign

Three of the five members of Ocean Group’s Board of Directors resigned according to their personal aspirations, including Chairman Mai Huu Dat, Vice Chairman Nguyen Thanh Trung and Ms. Nguyen Mai Phuong. Two members of the Supervisory Board also resigned for the same reason: Ms. Nguyen Huong Nga, head of the Board, and Mr. Nguyen Thanh Tung.

At the same time, Ocean Group also announced that it had dismissed Mr. Lo Hong Hiep from the position of general director from April 15. Ocean Group has appointed Ms. Pham Thi Hong Nhung to hold this position, cum legal representative of the company. Previously, Ms. Nhung was the Head of Supervisory Board at Fecon Joint Stock Company and Tedi Transport Design Consulting Corporation. She has submitted her resignation letter at the two companies mentioned above.

Earlier this month, some leaders also sold off their OGC shares before withdrawing from this business. Vice Chairman Nguyen Thanh Trung sold 13.5 million shares (equivalent to 4.5% of capital), Mrs. Nguyen Huong Nga and her relatives sold more than 14.5 million shares. Mr. Hiep also sold 3 million shares.

Ocean Group’s leaders resigned less than half a month before the 2022 general meeting of shareholders. Last year, Ocean Group’s two annual meetings were held unsuccessfully when the first time was not enough with the number of shares. for the second time, the meeting agenda was not approved by the general meeting of shareholders.

At the end of 2020, a new group of shareholders owning 51% of shares in Ocean Group appeared. IDS Equity Holdings, a risky asset management company and specializes in investing in undervalued businesses in Vietnam, is introduced to represent these shareholders.

In 2021, Ocean Group achieved consolidated revenue of about VND 519 billion and profit after tax of nearly VND 100 billion. This year, this company aims to sharply increase revenue to nearly 940 billion, but profit decreased to only 18 billion.

At the upcoming annual meeting, Ocean Group also plans to submit to the general meeting of shareholders for approval the plan to change the company’s name to OGC Group Joint Stock Company, as well as change the head office of the business.

Mr. Tu