Chairman of property developer Thuduc House, Nguyen Quang Nghia, has resigned a month after he sold almost his entire stake in the company.
Nghia resigned Monday for personal reasons. He had sold 20.7 million shares to bring his stake to 0.05% from 18.4%.
The 47-year-old had taken over in August 2023.
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An artist’s impression of an apartment project developed by Thuduc House in Ho Chi Minh City. Photo courtesy of the company |
His resignation means all board members and the CEO of the company have resigned since last year even as it continues to face challenges after its former general director and some key personnel were arrested in 2021 for allegedly falsifying tax documents to appropriate money.
Since 2020 the company has been posting losses except for 2022 when it posted a marginal profit.
As of the third quarter last year it had accumulated losses of VND755 billion (US$30 million).
