TNG Chairman Nguyen Van Thoi Resigns, Remains Largest Shareholder with 19.2% Stake

Overview

Nguyen Van Thoi has resigned as Chairman of TNG Investment and Trading JSC (TNG), effective after the upcoming annual meeting, where he is expected to assume the role of Permanent Vice Chairman. He remains the largest shareholder with a 19.2% stake, holding over 24.7 million shares. This leadership transition aims to facilitate younger management succession while maintaining continuity through Thoi’s continued involvement and significant ownership.

Key Facts

• Nguyen Van Thoi submitted his resignation on April 13, 2026, to be effective after the annual meeting.
• He is expected to become Permanent Vice Chairman following the meeting.
• Thoi holds over 24.7 million TNG shares, equivalent to 19.2% of charter capital, making him the largest shareholder.
• He has served as Chairman since 2003, following his role as Director of Thai Nguyen Garment Company (TNG’s predecessor) from 1993 to 2002.
• TNG reported 2025 revenue of VND 8,700B and net profit of VND 393B, up approximately 13% and 24.8% year-on-year.
• The company targets 2026 revenue of VND 9,500B and net profit of VND 450B, representing growth of 9.2% and 14.5% respectively.
• TNG operates with one headquarters and 18 branches, with textiles and apparel remaining its largest revenue segment.

What Happened

According to a company filing announced on April 13, 2026, Nguyen Van Thoi resigned as Chairman of TNG Investment and Trading JSC. In his resignation, Thoi stated he was stepping down to create conditions for younger leadership to take over and manage the enterprise in the coming period. After leaving his current position, he is expected to assume the role of Permanent Vice Chairman following this year’s annual meeting. The filing did not disclose who will replace him as Chairman.

Nguyen Van Thoi, born in 1958, is a mining electromechanical engineer and economics graduate. He served as Director of Thai Nguyen Garment Company from 1993 to 2002, which was TNG’s predecessor, before becoming Chairman in 2003. The company filing confirms he remains the largest shareholder with a 19.2% stake. Thoi was also recently elected to the Thai Nguyen Provincial People’s Council for the 2026-2031 term.

Market Context

TNG shares closed at VND 23 on April 10, 2026, down 1.30% with volume of 1,150,400 shares on the HOSE exchange. The leadership change announcement comes as the company reported strong 2025 results with revenue growth of nearly 13% and net profit growth of 24.8% year-on-year. TNG’s 2026 targets, if achieved, would represent record performance for the company. The textiles and apparel sector in Vietnam has faced mixed conditions recently, with export challenges but domestic growth opportunities.

Strategic Significance

The transition reflects a planned succession strategy where founder leadership gradually shifts to younger management while maintaining institutional knowledge and shareholder alignment. Thoi’s continued role as Permanent Vice Chairman and largest shareholder suggests operational continuity and commitment to the company’s strategic direction. This move may be aimed at refreshing leadership while leveraging Thoi’s experience during a period of ambitious growth targets, particularly as TNG aims for its highest-ever financial results in 2026.

What to Watch

• Announcement of the new Chairman following the annual meeting.
• TNG’s Q1 2026 earnings release to assess progress toward the VND 9,500B revenue and VND 450B net profit targets.
• Any changes in Thoi’s shareholding percentage following the leadership transition.
• Company filings regarding strategic initiatives under new leadership structure.
• Sector performance indicators for Vietnamese textiles and apparel exports.