NovaGroup names Bui Cao Nhat Quan as chairman in leadership transition

Vietnam’s NovaGroup, which operates in real estate development, tourism and entertainment, has appointed Bui Cao Nhat Quan as chairman, succeeding his father Bui Thanh Nhon, as part of a broader leadership reshuffle aimed at supporting its restructuring and next growth phase.

Nhon, the group’s founder, will remain chairman of Nova Holding, the parent company with a controlling stake in NovaGroup, and will continue to provide strategic direction and long-term vision while supporting the management team.

The announcement was made at a ceremony on Thursday, where NovaGroup unveiled appointments to its board of directors and executive leadership, marking a key step in its comprehensive restructuring roadmap.

Quan, a second-generation leader, has spent more than 20 years with the group and has been directly involved in its operations through multiple growth cycles and market fluctuations. He recently re-emerged at a signing ceremony between Novaland and LPBank as chairman of Novaland’s executive council.

Alongside the leadership transition, NovaGroup has strengthened its senior management team. Duong Van Bac was appointed to the board of directors, while Tran Thi Thanh Van was named both a board member and CEO. Truong Thi Hoang Lan was appointed deputy CEO for investment, and Pham Thi Hong Nhung as deputy CEO for operations.

NovaGroup said the newly appointed executives bring extensive experience and have played key roles in the group’s restructuring, particularly during the 2023-2025 period.

Van, currently deputy CEO of Novaland, has more than 17 years of experience with the group. Lan, who joined NovaGroup in March 2026, is a finance and banking expert who previously held senior roles at domestic banks and securities firms, most recently serving as deputy CEO of TPBank.

Nhung is currently head of systems at NovaGroup, a board member at Novaland, and chairwoman and CEO of Nova Service Group, with extensive experience in human resources and systems management.

As Vietnam’s economy enters a new growth phase driven by digital transformation, technology adoption and rising global competitiveness requirements, NovaGroup said strengthening its leadership team is critical.

The transition and restructuring are expected to accelerate the group’s recovery, optimize operations, advance digital and AI adoption, implement ESG-aligned business models, and enhance governance in line with international standards.