Vietnam EV maker VinFast appoints founder as CEO, replaces CFO

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Vinfast Auto Ltd. electric vehicle VF8 model at the company’s showroom in Hanoi, Vietnam on Thursday, Sept. 7, 2023. Vinfast is one of Vietnam’s most high-profile companies, backed by the country’s richest man, Pham Nhat Vuong, who founded Vingroup. JSC, a conglomerate spanning homes, hotels, hospitals and shopping malls. The group, together with its partners and lenders, has invested $8.2 billion to finance Vinfast’s operating expenses and capital expenditure over the past six years. Photographer: Linh Pham/Bloomberg via Getty Images

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Vietnamese electric vehicle maker VinFast on Saturday named its founder and biggest financial backer, Pham Nhat Vuong, as chief executive, as it plans an ambitious overseas expansion and boost sales through dealerships.

Vuong, 55, replaces Le Thi Thu Thuy, who had been in the post since the end of 2021, VinFast said in a statement. Thuy, a finance expert, will serve as chair and lead engagement with external stakeholders.

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