Vietnam’s first tech unicorn VNG appoints new CEO
VNG Corporation on Wednesday announced the appointment of Kelly Wong as its CEO from May 20, after half a year of this position being vacant.
Kelly Wong, a Canadian nationality, will hold the position for five years, until 2030.
Kelly Wong, new CEO of VNG Corporation. Photo courtesy of the company.
The position had been vacant since the company’s founder, Le Hong Minh, resigned in late November 2024. Since then, Minh has been chairman of the board of directors and legal representative.
Last September, VNG announced the appointment of deputy CEO Kelly Wong, who was in charge of online games at VNG, as acting CEO.
Kelly Wong has nearly 20 years of experience in various business sectors in Vietnam. He used to be deputy CEO of food major Kido Group, executive chairman of Red Wok Investment (RWI), and CEO of the Ho Chi Minh City Securities Corporation (HSC).
Last year, VNG recorded VND1,180 billion ($45.44 million) in loss after tax, while the target was to make a profit of VND150 billion.
The company recorded a post-tax loss of VND15 billion ($577,723) in Q1/2025, marking the seventh consecutive quarterly loss, according to its Snapshot Q1/2025.
According to VNG's management, this series of losses was due to the promotion of new products and strategies.
On a positive note, this loss was half that of the same period last year and significantly lower than previous peak quarters where the figure exceeded VND400 billion ($15.4 million).
Chairman Le Hong Minh said that the growth rate has slowed down recently, but new directions would give rise to breakthroughs in the next decade. The company is balancing sustainable growth in core areas with cautious innovations, he added.
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