Dat Xanh Group (DXG) Replaces Chairman and CEO in Restructuring

Overview

Dat Xanh Group (DXG) announced the simultaneous replacement of its Chairman and General Manager on April 16, 2026. Chairman Luong Ngoc Huy stepped down, replaced by former CEO Bui Ngoc Duc, while Nguyen Truong Son was appointed as the new General Manager. The changes are part of a corporate restructuring and brand renewal for a new growth cycle.

Key Facts

• DXG replaced Chairman Luong Ngoc Huy and General Manager Bui Ngoc Duc simultaneously on April 16, 2026.
• Bui Ngoc Duc, previously General Manager, was appointed as the new Chairman.
• Nguyen Truong Son, former Deputy General Manager in charge of investment and Chairman of Dat Xanh Services, was appointed as the new General Manager.
• Bui Ngoc Duc has 25 years of project development experience in Singapore, Indonesia, South Korea, and Australia, and has been with DXG for 12 years.
• Nguyen Truong Son joined DXG in 2011 and was appointed Deputy General Manager in 2017.
• DXG targets 2026 revenue of VND 5,000 billion and after-tax profit of VND 268 billion, up 19% and 16% year-on-year respectively.
• Founder Luong Tri Thin owns over 173 million shares, equivalent to 15.53% of DXG’s capital.

What Happened

On April 16, 2026, Dat Xanh Group announced that Chairman Luong Ngoc Huy would step down “according to the work assignment of the Board of Directors.” The company appointed Bui Ngoc Duc, who previously served as General Manager, to replace him. Nguyen Truong Son, formerly Deputy General Manager in charge of investment and Chairman of Dat Xanh Services, was appointed as the new General Manager.

According to the company’s press release, the senior personnel changes are part of a brand and operating model restructuring for a new growth cycle. The restructuring focuses on separating two core business segments: property development and property services. The new Chairman will focus on shaping the overall business model, financial restructuring, and establishing relationships with strategic partners and financial institutions, while the new General Manager will lead comprehensive restructuring and internal operations.

Market Context

DXG shares closed at VND 15 on April 15, 2026, down 0.33% with a volume of 18.3 million shares. The stock trades on HOSE. The real estate sector in Vietnam has been under pressure from regulatory changes and tight credit conditions, but DXG’s restructuring signals a strategic pivot to improve operational efficiency and growth prospects.

Strategic Significance

The simultaneous leadership change at DXG underscores a deliberate effort to reposition the company for the next growth cycle. By separating the roles of Chairman and CEO and appointing experienced internal executives, DXG aims to streamline decision-making and focus on core business lines. The appointment of Bui Ngoc Duc, with extensive international experience, may help attract foreign partners and capital. The restructuring aligns with the company’s target of modest revenue and profit growth in 2026, suggesting a focus on consolidation rather than aggressive expansion.

What to Watch

• Q1 2026 earnings release for DXG to assess early restructuring impact.
• Any announcements of strategic partnerships or financial restructuring deals.
• Progress on separating property development and services businesses.
• Changes in foreign ownership limits or investor sentiment following the leadership change.
• Updates on major project launches or land bank acquisitions.