RBC Deputy CEO Bui Van Dung Removed After Term Expires

Overview

Rubber Industry and Export Import JSC (UPCoM: RBC) has removed Deputy General Director Bui Van Dung from its executive board effective October 6, 2026, according to a company announcement. The company said his term of office had expired and no reappointment was carried out under prevailing regulations. The change touches the leadership of a small-cap rubber processor whose controlling shareholder is the Vietnam Rubber Industry Group.

Key Facts

• RBC announced the removal of Deputy General Director Bui Van Dung effective October 6, 2026.
• The stated reason was expiry of his term of office with no reappointment under company rules.
• Bui Van Dung was born in 1973 and holds a bachelor’s degree in finance and accounting.
• He served as Deputy General Director from 2008, then as Head of the Supervisory Board in 2015-2016, before returning as Deputy General Director from 2016.
• Across both stints, he held the Deputy General Director position for roughly 16 years.
• RBC has charter capital of more than VND 100 billion, with the Vietnam Rubber Industry Group as controlling shareholder.
• In 2025, RBC reported total revenue of more than VND 142 billion and pre-tax profit of nearly VND 2.7 billion.
• RBC shares closed at VND 4,600 on September 30, 2026.

What Happened

The board of directors of CTCP Công nghiệp và Xuất nhập khẩu Cao su decided that Bui Van Dung would cease to hold the title of Deputy General Director from October 6, 2026. In its announcement, the company attributed the change to the expiration of his term and the decision not to reappoint him, rather than to any disciplinary action. The filing did not name a successor or indicate whether the deputy role will be filled.

Dung’s tenure at RBC spans several functions. He worked in accounting roles and as Chief Accountant before being appointed Deputy General Director in 2008. In 2015-2016 he moved to head the Supervisory Board, then returned to the executive board as Deputy General Director from 2016 until the current change. The announcement did not disclose any severance terms or the transaction value of any related arrangements.

Market Context

RBC trades on the UPCOM exchange, Vietnam’s unlisted public company market, where liquidity and disclosure frequency are typically lower than on HOSE or HNX. The stock closed at VND 4,600 on September 30, 2026, a price level consistent with a small charter capital base of just over VND 100 billion. RBC operates in the rubber processing segment of the chemicals sector, where profitability is tied to latex and rubber product pricing as well as demand from downstream industrial buyers. The company’s 2025 pre-tax profit of nearly VND 2.7 billion on revenue above VND 142 billion implies thin margins, leaving limited buffer against cost or price swings.

Strategic Significance

For long-term holders, the key question is not the departure itself but what it signals about management depth at a company controlled by the Vietnam Rubber Industry Group. A deputy CEO with 16 years of institutional knowledge, including a stint heading the Supervisory Board, carries relationships with suppliers, auditors and parent-company officials that are not instantly replaceable. RBC’s small scale means a single senior vacancy can affect execution on processing contracts and financial reporting oversight. The absence of a named successor in the announcement leaves open whether the role will be restructured, merged, or left vacant, each of which implies a different operating posture under the controlling shareholder.

What to Watch

• Any RBC filing naming a new Deputy General Director or confirming the role will remain vacant.
• The next annual or extraordinary general meeting agenda for board and executive appointments.
• RBC’s 2026 interim or full-year results for evidence of margin or revenue disruption after the transition.
• Disclosure of any changes to the Supervisory Board or Chief Accountant position.
• Parent company Vietnam Rubber Industry Group communications on governance at its listed subsidiaries.