DGC appoints new CEO, deputy CEOs after AGM; two ex-execs face charges

Overview

Duc Giang Chemicals (DGC) has announced a series of senior management changes following its 2026 annual general meeting (AGM), including the appointment of a new CEO and deputy CEOs. The moves come as two former executives were dismissed after being indicted for environmental pollution. The leadership overhaul is significant for the HOSE-listed chemicals firm as it navigates legal and governance challenges.

Key Facts

• Phạm Duy Tùng, former Board member and Deputy CEO, appointed CEO and legal representative for a 5-year term starting August 13, 2026.
• Ông Tùng holds 95,858 DGC shares, equivalent to 0.02% of charter capital.
• Võ Thăng Long, born 1984, appointed Deputy CEO for 5 years; he holds no DGC shares and is son-in-law of former Chairman Đào Hữu Huyền.
• Đào Đức Mạnh appointed Board member, Deputy CEO, and Head of Import-Export; he holds 87,636 DGC shares (0.02%).
• Đỗ Văn Đông, Deputy Head of Projects, elected to the Board for the remainder of the 2024-2029 term.
• Lưu Bách Đạt and Phùng Trọng Tú dismissed from their roles as CEO and Deputy CEO, respectively, effective August 13, 2026.
• Both former executives were indicted for environmental pollution; Board member Nguyễn Quốc Trung was indicted for violating resource exploration regulations.

What Happened

Duc Giang Chemicals (DGC) announced a series of senior management appointments and dismissals following its 2026 annual general meeting (AGM). The company, listed on HOSE, said in a filing to the Ho Chi Minh City Stock Exchange that Phạm Duy Tùng, previously a Board member and Deputy CEO, has been appointed as CEO and legal representative for a five-year term starting August 13, 2026. Tùng, who holds 95,858 DGC shares (0.02% of charter capital), also serves as Director of Duc Giang Real Estate and Rue du Charbon Hotel.

The company also appointed Võ Thăng Long as Deputy CEO for five years. Long, born in 1984, holds no DGC shares and is the son-in-law of former Chairman Đào Hữu Huyền. Additionally, Đào Đức Mạnh was appointed as Board member, Deputy CEO, and Head of Import-Export, while Đỗ Văn Đông was elected to the Board for the remaining term. In a reverse move, Lưu Bách Đạt and Phùng Trọng Tú were dismissed from their roles as CEO and Deputy CEO, respectively, effective the same date. The dismissals follow their indictment by the Ministry of Public Security for environmental pollution charges.

Market Context

DGC shares closed at VND 43,200 on August 15, 2026, reflecting investor sentiment amid the leadership transition. The chemicals sector on HOSE has been under pressure from regulatory scrutiny and environmental compliance issues. The leadership overhaul comes at a critical time as the company addresses legal challenges and seeks to stabilize operations. The market will be watching how the new management team navigates these issues and whether the changes restore investor confidence.

Strategic Significance

The leadership changes signal a strategic reset for DGC, aiming to distance the company from legal troubles and restore governance credibility. The appointment of Phạm Duy Tùng, who has been with the company, suggests continuity, while the inclusion of Võ Thăng Long, a family member, indicates a desire to maintain control. For long-term investors, the key question is whether the new leadership can steer DGC through regulatory hurdles and focus on core chemical operations. The dismissals of indicted executives are a positive step toward compliance, but the company’s reputation and operational stability remain under watch.

What to Watch

• Q3 2026 earnings report to assess operational impact of leadership changes.
• Any further legal developments regarding the indicted executives and potential fines or penalties.
• Management’s strategic plan for environmental compliance and remediation.
• Share price reaction and foreign investor sentiment following the leadership overhaul.
• Any additional board or management changes as the new team settles in.