VinFast Names Pham Nhat Vuong as CEO

Pham Nhat Vuong, the founder and largest financial backer of Vietnamese electric vehicle (EV) maker VinFast, was named CEO on Jan 6 as the company plans an ambitious overseas expansion and ramps up sales through dealerships. Vuong, 55, succeeds Le Thi Thu Thuy, who has held the position since late 2021, according to VinFast. Thuy, a finance expert, will be the chairwoman and will oversee engagement with external stakeholders.

According to the company, Vuong, who is also the founder and chairman of Vingroup, Vietnam's largest conglomerate and VinFast's parent company, will direct the EV maker's operations, including global production, sales, and marketing. He will be the fourth CEO of VinFast. Previous CEOs have included General Motors veteran James Deluca and Opel and Volkswagen veteran Michael Lohscheller.

VinFast appointed Nguyen Thi Lan Anh, who oversees financial matters at Vingroup's EV battery arm, as chief financial officer, replacing David Mansfield, who had been in place since 2022, in the latest executive changes for the ambitious Vietnamese automaker.

"It is the right time to evolve the Company's leadership as it enters the next phase of its development," VinFast's Board of Directors said.

Founded in 2017, VinFast started manufacturing EVs in 2021 and has continuously received financial support from Vuong, who is Vietnam's richest man, according to Forbes. In April 2023, Vuong provided VinFast with a $1 billion grant.