PTS Chairman Dao Thanh Liem Resigns; CEO Nguyen Trong Thuy Takes Board Lead

Overview

Dao Thanh Liem, 61, has resigned as Chairman of the Board of Directors of Petrolimex Hai Phong Transport and Services (HNX: PTS), along with his board membership and legal representative roles, effective November 1, 2026, to retire. The company disclosed the resignation letter dated October 29. CEO Nguyen Trong Thuy will oversee the board until a new chairman is elected.

Key Facts

• Dao Thanh Liem, born April 10, 1965, submitted his resignation letter dated October 29, effective November 1, 2026.
• He steps down as Chairman and board member for the 2022-2027 term, as legal representative of PTS Hai Phong, and as Chairman of PTS Hai Phong Shipbuilding Co., Ltd.
• The stated reason is retirement and eligibility for social insurance benefits under regulation.
• On October 27, Petrolimex Waterway Transport Corporation issued a document changing its authorized representative for its capital stake in PTS Hai Phong, transferring the role from Liem to Nguyen Trong Thuy.
• Nguyen Trong Thuy, born October 28, 1966, has served as CEO since May 2012, more than 14 years, and has been a board member since January 2001.
• Liem had chaired the PTS board since April 29, 2022, following a career of more than 35 years in petroleum transport.
• PTS has charter capital of VND 55.68 billion, equivalent to 5.568 million shares outstanding, and has traded on HNX since December 2006.

What Happened

Petrolimex Hai Phong Transport and Services (HNX: PTS) published the resignation letter of Chairman Dao Thanh Liem, who asked to step down from the board and his legal representative positions effective November 1, 2026. Liem, born April 10, 1965, cited retirement and social insurance eligibility as his reasons. He had led the board since April 29, 2022, after joining PTS Hai Phong in early 2001 and serving as Deputy CEO from April 2012.

The transition was coordinated with the parent company. On October 27, Petrolimex Waterway Transport Corporation issued a document reassigning its authorized representative for its capital stake in PTS Hai Phong from Liem to Nguyen Trong Thuy, and asked Liem to hand over his duties. Thuy, currently a board member and CEO, will oversee the board until a new chairman is elected. The company did not disclose a timeline for that election.

Market Context

PTS shares closed at VND 10,900 on November 3, 2026, on the Hanoi Stock Exchange (HNX). The stock is a small-cap within the petroleum transport and logistics segment of the Petrolimex ecosystem, with just 5.568 million shares outstanding, which keeps liquidity thin and price discovery sensitive to governance news. The resignation comes as Vietnam’s fuel distribution and marine transport sectors face steady competition and as the broader HNX small-cap segment trades on domestic liquidity rather than foreign flows.

Strategic Significance

For long-term holders, the key question is continuity rather than disruption. Thuy has run PTS as CEO since 2012 and sits on the board, so day-to-day operations and the Petrolimex relationship should remain stable through the interim period. The reassignment of the parent’s authorized representative to Thuy consolidates control in a single executive and reduces the risk of a governance gap. The open variable is who chairs the board next and whether that person comes from within Petrolimex Waterway Transport or represents a new balance among shareholders.

What to Watch

• Announcement of the board meeting to elect a new chairman and the nominee’s background.
• Any further change in Petrolimex Waterway Transport’s authorized representative or ownership stake in PTS.
• PTS financial disclosures for the fourth quarter of 2026, the first full period under interim board leadership.
• Updates on PTS Hai Phong Shipbuilding’s management following Liem’s departure as its chairman.
• Liquidity and price reaction in PTS given its small free float and thin trading volume.