Education major Egroup appoints new executive amid leadership crisis

Nguyen Thi Dung, a board member of Egroup Education Group JSC and a senior executive at its subsidiary Egame Investment and Distribution JSC, has taken over the executive role at the two firms from Nguyen Ngoc Thuy, known as “Shark Thuy”.

In its Tuesday announcement, Egroup - a major education player in Vietnam - stated that Thuy had transferred his shares and shareholder rights in the two businesses to Dung, who is his younger sister.

The statement was issued after the Ministry of Public Security on Tuesday arrested Thuy on charges for fraud to appropriate properties at Egroup and Egame.

Egroup pledged that the firm will continue to prioritize stable operations at its affiliates, comprising the English language school Apax Leaders, the kindergarten school chain STEAMe Garten, and the critical thinking training system CMS Edu.

Nguyen Ngoc Thuy, born in 1982, founded Egame in 2008, which later evolved into Egroup Group. In only four years, more than 100 Apax training centers for English were established across the nation, boasting 800 native teachers and catering to 75,000 learners. Notably, in the 2018-2019 period, he participated in the startup-focused reality show Shark Tank Vietnam, earning the name “Shark Thuy.”

In only four years, more than 100 Apax training centers for English were established across the nation, boasting 800 native teachers and catering to 75,000 learners. In 2018-2019, he participated in the startup-focused reality show Shark Tank Vietnam, earning the name “Shark Thuy”.