Vietnam EV maker VinFast names 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 wealthiest man Pham Nhat Vuong  who has established Vingroup JSC, a conglomerate spanning homes, hotels, hospitals and shopping malls. The group, together with its affiliates and lenders, have deployed $8.2 billion to fund VinFast’s operating expenses and capital expenditures the last 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 ramps up sales via dealerships.

Vuong, 55, replaces Le Thi Thu Thuy, who held the post since late 2021, VinFast said in a statement. Thuy, a finance expert, will serve as chairwoman and lead engagement with external stakeholders.

Vuong, also the founder and chairman of Vingroup — Vietnam’s biggest conglomerate and VinFast’s parent company — will directly oversee the EV maker’s operations, including global production, sales and marketing, the company said.

He will be VinFast’s fourth chief executive. Previous CEOs include General Motors veteran James Deluca and Michael Lohscheller, who came from Opel and Volkswagen.

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


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