Son-in-law of Vietnam’s former prime minister to leave Vietcap Securities
Nguyen Hoang Bao, husband of former Vietnamese Prime Minister Nguyen Tan Dung’s daughter Nguyen Thanh Phuong, has submitted his resignation from Vietcap Securities JSC’s board of directors for "personal reasons."
The resignation will be taken up at the upcoming annual shareholder meeting scheduled for April, the firm said in an announcement.
Nguyen Hoang Bao, a board member of Vietcap Securities. Photo courtesy of the company.
Bao, also known as Henry Nguyen, has been sitting on the board since 2011. He currently holds no shares of Vietcap Securities, listed on the Ho Chi Minh Stock Exchange as VCI. His wife, VCI chairwoman, owns 4% of the firm.
Bao, 51, holds a bachelor’s degree in business administration from Harvard University, an MD from Northwestern University and a master’s degree in business administration from Kellogg School of Management.
Besides VCI, he holds top positions at several other companies. He is chairman of the Good Day Hospitality Company, Viet Capital Real Estate and Phoenix Holdings, the last firm specializing in investing in technology, consumer-retail, fintech, education, sports, communication and entertainment.
Bao is also in charge of franchise development at fast-food chain McDonald’s Vietnam and executive chairman of Timo Vietnam JSC, which runs Timo - the first digital bank in the country
He founded the Saigon Heat basketball team, co-founded the Vietnam Basketball Association and is president of the Vietnam Basketball Federation.
Bao is also a founding board member of British University Vietnam and a member of Fulbright University Vietnam’s Board of Trustees.
VCI shares closed down 2.74% to VND47,850 ($1.94) apiece on Friday.
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