NovaGroup Founder Bui Thanh Nhon Transfers Chairman Role to Son Bui Cao Nhat Quan

Overview

NovaGroup, the parent company of Novaland (NVL), announced the transfer of the Chairman of the Board role from founder Bui Thanh Nhon to his son, Bui Cao Nhat Quan. The group emphasized this is a planned succession to ensure continuity and adaptability. Nhon will remain focused on strategic direction and long-term vision, while retaining his position as Chairman of Nova Holding, the controlling shareholder of NovaGroup.

Key Facts

• Bui Thanh Nhon transferred the Chairman role of NovaGroup to his son Bui Cao Nhat Quan.
• Nhon retains the Chairman position at Nova Holding, the controlling shareholder of NovaGroup.
• Bui Cao Nhat Quan has over 20 years of experience within the group.
• At Novaland (NVL), Nhon holds 4.33% equity, Quan holds 3.37%, and the family group collectively owns 39.79%.
• Duong Van Bac, CEO of Novaland, was elected to the NovaGroup Board of Directors.
• Tran Thi Thanh Van, Deputy General Director of NVL, becomes a Board member and General Director of NovaGroup.
• Truong Thi Hoang Lan, former Deputy General Director of TPBank, was appointed Deputy General Director of Investment at NovaGroup.
• Pham Thi Hong Nhung, Chairwoman and CEO of Nova Service, becomes Deputy General Director of Operations at NovaGroup.

What Happened

NovaGroup announced on the evening of April 15, 2026, that founder Bui Thanh Nhon has handed over the Chairman of the Board role to his son, Bui Cao Nhat Quan. The group stated this is a pre-planned succession step to ensure inheritance, continuity, and adaptation to new circumstances. Nhon will continue to guide strategic direction and long-term vision, and remains Chairman of Nova Holding, the entity that holds a controlling stake in NovaGroup.

Bui Cao Nhat Quan has been with the group for over 20 years, directly involved in management across various phases. NovaGroup emphasized that his assumption of the Chairman role is not merely inheritance but a continuation of proven practical experience, operational capability, and innovative thinking.

Alongside the succession, NovaGroup reshuffled its senior leadership. Duong Van Bac, CEO of Novaland, was elected to the NovaGroup Board. Tran Thi Thanh Van, Deputy General Director of NVL, becomes a Board member and General Director of NovaGroup. Truong Thi Hoang Lan, formerly Deputy General Director of TPBank, was appointed Deputy General Director of Investment. Pham Thi Hong Nhung, Chairwoman and CEO of Nova Service, becomes Deputy General Director of Operations. All appointees are long-standing members of the leadership team who contributed significantly to the restructuring during 2023-2025.

Market Context

NVL shares closed at VND 18,000 on April 15, 2026, up 2.63% with volume of 35.9 million shares on HOSE. The stock has been under pressure amid the broader real estate sector’s challenges, including debt restructuring and slow project progress. The leadership transition at the parent level may signal a new phase of corporate governance, but near-term market focus remains on Novaland’s financial health and project execution.

Strategic Significance

The planned succession at NovaGroup aims to ensure leadership continuity while leveraging the founder’s strategic oversight. The appointment of experienced executives from within the group, many of whom were involved in the 2023-2025 restructuring, suggests a focus on operational stability and execution. The move may reassure stakeholders about the group’s long-term direction, but the key test will be whether the new leadership can accelerate project completions and improve cash flow at Novaland.

What to Watch

• Novaland’s Q1 2026 earnings release for signs of operational improvement.
• Updates on debt restructuring progress and any new financing agreements.
• Progress on key projects, especially in HCMC and surrounding provinces.
• Any changes in foreign ownership limits or investor sentiment following the leadership change.
• Further announcements on NovaGroup’s strategic direction under the new Chairman.