Suddenly coming back, what role does Mr. Nguyen Duc Huong holds at CMS?

2 min read

On November 22, CMVIETNAM Joint Stock Company (code CMS, HNX) announced the minutes and resolutions of the Board of Directors (BOD) through the meeting on the same day.

Specifically, in Resolution No. 08, the CMS Board of Directors decided to dismiss Mr. Duong Ngoc Truong from the position of BOD member for the 2018-2023 term, according to Mr. Truong’s resignation letter.

In Resolution 09, the CMS Board of Directors decided to temporarily appoint Mr. Nguyen Duc Huong as a member of the Board of Directors – co-founder and former Chairman of the Board of Directors of LienVietPostBank (LienVietPostBank).

According to CMS, this appointment is to promptly add members to the management role of the Company due to the resignation of one member of the Board of Directors.

Mr. Nguyen Duc Huong will hold the above position until the nearest General Meeting of Shareholders. According to the minutes of CMS, Mr. Huong will “participate in the supervision of the activities of the Board of Management of the Company and the production and business activities of the Company”.

Through the above appointment, Mr. Nguyen Duc Huong suddenly returned to the market after three years leaving the position of Chairman of the Board of Directors of LienVietPostBank since March 2018.

Mr. Huong is a co-founder and used to hold the position of General Director, Standing Vice Chairman of the Board of Directors, Chairman of the Board of Directors during 10 years of building and developing LienVietPostBank.

At the General Meeting of Shareholders on March 28, 2018, Mr. Huong decided to leave LienVietPostBank for health reasons, after completing the listing of LPB shares of this bank on the Hanoi Stock Exchange (HNX).

Up to now, Mr. Nguyen Duc Huong suddenly returned to a new role at CMS – a contractor for domestic and international infrastructure construction, as well as real estate, hotel and commercial activities.

According to the financial statements, CMS is having difficulty recording losses in recent announced periods. Mr. Huong’s participation is a new element in the structure of the Board of Directors, associated with the prospect of contributing to new changes when the company has recently started promoting a number of large-scale real estate projects.

On the stock market, CMS shares have been listed on HNX since November 2010. This stock price has also had a very strong increase in about a month, more than 4 times higher than before.

Source: bizlive.vn – Translated by fintel.vn