Many senior leaders of FLC Group resign

FLC Group JSC on Monday announced it had received the applications for resignation from a number of senior leaders.

They are Bui Hai Huyen, board member, CEO and legal representative; Dam Ngoc Bich, standing deputy CEO; and Le Thi Truc Quynh, deputy CEO.

Bui Hai Huyen, 47, served as deputy CEO of FLC Group from 2015 to March 2020, when she was appointed CEO. In early July 2022, she held the position of permanent vice chairwoman after several senior leaders of the group were arrested.

Huyen boasts more than 20 years of experience in management, administration and consulting at many large enterprises.

Dam Ngoc Bich, 46, has been FLC deputy CEO since 2015, in charge of the group's real estate business; while Le Thi Truc Quynh has held the position of deputy CEO since 2020, in charge of strategic customer activities and then financial activities.

FLC’s high-level personnel fluctuations came after the Hanoi Stock Exchange (HNX) on February 24 issued two consecutive decisions approving the registration of FLC on the unlisted public company market (UPCoM) and including it on a list suspended from trading.

HNX explained that the suspension of FLC shares from trading from March 3 is in line with the regulations on registration and management of securities trading of unlisted companies issued on November 16, 2022, by the Vietnam Stock Exchange's council of members.

On February 14, FLC received the Ho Chi Minh Stock Exchange’s (HoSE) decision to delist its nearly 710 million shares from February 20 for "serious violations of information disclosure obligations".

On March 29, FLC chairman Trinh Van Quyet was arrested on charges of "market manipulation" and "concealing information regarding securities activities".

Before Quyet was arrested, FLC Group was known as one of Vietnam's leading property developers with projects and investment proposals across the country.