EVNPECC4 (TV4) Overhauls Leadership After Chairman, CEO Detained

Overview

EVNPECC4 (TV4), the HNX-listed engineering and consulting arm of Vietnam’s power sector, announced a sweeping leadership change on August 24, 2026, after its former chairman, CEO, and other executives were detained in a corruption probe. The company’s extraordinary general meeting approved the removal of Lê Cao Quyền and Trần Cao Hỷ from the board, appointing Vương Anh Dũng as chairman and Đồng Trinh Hoàng as CEO. The shake-up comes as the Ministry of Public Security investigates violations related to the National Power Transmission Corporation.

Key Facts

• On August 24, 2026, EVNPECC4’s extraordinary shareholders’ meeting removed Lê Cao Quyền and Trần Cao Hỷ from the board of directors.
• Vương Anh Dũng was elected chairman for the 2026-2031 term, effective August 24.
• Đồng Trinh Hoàng, previously a board member and deputy CEO, was appointed CEO and legal representative.
• The board now has four members: Vương Anh Dũng (chairman), Đồng Trinh Hoàng, Huỳnh Minh Quang, and independent member Nguyễn Chí Quang.
• On June 11, 2026, police detained former chairman Lê Cao Quyền, former CEO Trần Cao Hỷ, deputy CEO Nguyễn Như Đông, and chief accountant Trần Lê Thanh Bình.
• Charges include serious violations of bidding regulations, accounting violations, embezzlement, and bribery.
• TV4 closed at 13,600 VND on August 24, 2026, on the HNX.

What Happened

EVNPECC4, formally known as Công ty Cổ phần Tư vấn xây dựng Điện 4, convened an extraordinary general meeting on August 24, 2026, to approve a leadership overhaul. Shareholders voted to dismiss Lê Cao Quyền and Trần Cao Hỷ from the board, and the new board elected Vương Anh Dũng as chairman. Đồng Trinh Hoàng was appointed CEO, replacing Vương Anh Dũng, who had been acting CEO.

The changes follow the June 11 detention of several top executives, including Lê Cao Quyền, Trần Cao Hỷ, Nguyễn Như Đông, and Trần Lê Thanh Bình, in connection with a corruption case involving the National Power Transmission Corporation. The Ministry of Public Security has charged them with violations related to bidding, accounting, embezzlement, and bribery.

Market Context

TV4, listed on the HNX, closed at 13,600 VND on August 24, 2026. The stock has likely been under pressure since the arrests were announced in June, as investors weigh governance risks and potential project delays. The company, a key consultant for major power projects like the 1,200 MW Bác Ái pumped-storage hydropower plant, operates in a sector that is central to Vietnam’s energy transition, but the corruption probe adds uncertainty to its near-term outlook.

Strategic Significance

The leadership change is a critical step for EVNPECC4 to restore investor confidence and ensure business continuity. The new management team must navigate the ongoing investigation while maintaining the company’s role in Vietnam’s power infrastructure development. The appointment of a new chairman and CEO signals an attempt to distance the company from the scandal, but long-term implications depend on the investigation’s outcome and whether the company can secure new contracts. For investors, the key is whether TV4 can stabilize operations and preserve its competitive position in the power engineering consultancy market.

What to Watch

• Further updates from the Ministry of Public Security on the investigation and any additional charges.
• Q3 2026 earnings release, expected in October, to assess financial impact.
• Announcements of new contracts or project wins that could signal restored confidence.
• Any changes in the board or management structure beyond the current appointments.
• Regulatory filings regarding the legal representative change and its approval.