Pham Van Tai has stepped down as CEO of conglomerate Thaco Corporation after a seven-year stint, and chairman Tran Ba Duong has assumed the role concurrently.
Tai “successfully completed his assigned duties and voluntarily resigned during the group-wide restructuring and digital transformation at the end of 2025,” the company said in a statement.
Thaco has interests in automaking, agriculture and construction, among others.
The 60-year-old has been associated with it for over 20 years and became CEO in April 2018.
 |
|
Former Thaco CEO Pham Van Tai. Photo courtesy of the company |
Nguyen Mot, senior director responsible for culture and communications at Thaco, has also stepped down.
There are three new deputy CEOs, Nguyen Quang Bao, Tran Bao Son and Nguyen Hoang Tue, who also serve as CEO respectively of automaker Thaco Auto, agriculture firm Thaco Agri and construction firm Thadico.
Duong said earlier this year that the company would prioritize “balancing experienced leadership with a young, dynamic workforce to meet the demands of digital transformation and the digital economy” this year.
Thaco plans to hire 26,400 people this year, increasing its payroll to 77,100.
Thaco Agri will account for almost 23,000 of the new hires.
