Cen Land (CRE) Vice Chairman Pham Thanh Hung Resigns for New Group Role

Overview

Mr. Pham Thanh Hung has resigned as Vice Chairman of the Board of Directors of Cen Land (CRE) for personal reasons, effective upon shareholder approval at the annual general meeting on May 22. He will focus on a new role at the parent group, developing international markets and serving as a strategic advisor. The leadership change is part of Cen Land’s restructuring into a comprehensive real estate ecosystem.

Key Facts

• Mr. Pham Thanh Hung submitted his resignation as Vice Chairman of CRE on April 28, 2026.
• The resignation is for personal reasons and will be presented to the annual general meeting on May 22 for approval.
• He will remain a board member of the parent group and take on a new role focusing on international market development (human resources and international partners/clients) and strategic advisory.
• Hung has contributed to Cen Land for nearly two decades, helping build its brand and foundation in the real estate market.
• Cen Land is transitioning from a real estate services ecosystem to a comprehensive real estate ecosystem with five main pillars: investment & development, services & distribution, technology platform, operations & exploitation, and education & training.
• The company is strengthening partnerships with banks such as BIDV (via BIDV Home), MB, and VietinBank to provide verified projects with “green ticks” to customers.

What Happened

On April 28, 2026, Cen Land received a resignation letter from Mr. Pham Thanh Hung, Vice Chairman of the Board of Directors, citing personal reasons. The company stated that the resignation is a senior personnel adjustment aligned with a new strategic direction and does not affect Hung’s role at the parent group. He will continue as a board member of the group and take on new responsibilities focused on developing international markets and strategic advisory.

Cen Land’s board and leadership expressed gratitude for Hung’s contributions over nearly two decades, noting his role in positioning the brand and building a solid foundation. The resignation will be submitted to the annual general meeting on May 22 for formal approval, along with the election of a new board member.

Market Context

Cen Land (CRE) is listed on the Ho Chi Minh Stock Exchange (HOSE) and operates in the real estate sector. The company has been undergoing a strategic restructuring to shift from a real estate services ecosystem to a comprehensive real estate ecosystem. This leadership change comes amid a challenging real estate market in Vietnam, with many companies adjusting strategies to focus on core competencies and financial prudence. CRE’s stock price has been under pressure in recent months, reflecting broader market trends and company-specific restructuring efforts.

Strategic Significance

The resignation and reassignment of Mr. Pham Thanh Hung signal a clear strategic pivot for Cen Land. By moving a key executive to focus on international markets and strategic advisory, the company is likely seeking to expand its reach beyond Vietnam and leverage global partnerships. The restructuring into five pillars, including technology platforms and education, indicates a long-term vision to build a vertically integrated real estate ecosystem. This move could enhance Cen Land’s competitive positioning by diversifying revenue streams and reducing reliance on the domestic brokerage business.

What to Watch

• Approval of the resignation and election of a new board member at the annual general meeting on May 22.
• Details on Cen Land’s international market development plans and potential partnerships.
• Progress on the restructuring into five pillars, particularly the technology platform and bank partnerships.
• Q1 2026 earnings report to assess financial impact of the strategic shift.
• Any further senior management changes as part of the restructuring.