Appointment of TIMEXCO's Chairman of the Board

As part of its personnel development efforts, PetroVietnam Oil Corporation (PVOIL) has appointed a new Chairman of the Board of Directors for its subsidiary, Thu Duc Import-Export Trading Company (TIMEXCO). Mr. Nguyen Duc Thang has been designated as PVOIL's authorized representative at TIMEXCO and nominated to serve as Chairman of the Board for the 2023-2028 term.

On July 23, 2024, TIMEXCO held a ceremony to announce the Board's resolution regarding Mr. Nguyen Duc Thang's appointment. The event was attended by Mr. Cao Hoai Duong - Secretary of the Party Committee and Chairman of PVOIL's Board of Management; Mrs. Le Thi Thu Huong - Deputy General President of PVOIL, along with other board of director from Timexco.

In his address, Mr. Cao Hoai Duong acknowledged TIMEXCO's significant contributions to PVOIL's overall sales revenue and retail volume during the first half of 2024. He praised Mr. Nguyen Duc Thang's extensive management experience and expertise, expressing confidence in his ability to lead TIMEXCO towards continued success.

Mr. Cao Hoai Duong also highlighted the evolving trends in the retail fuel market, emphasizing the growing importance of non-fuel services. He encouraged TIMEXCO's leadership and staff to embrace innovation and seize new opportunities for growth.

In his acceptance speech, Mr. Nguyen Duc Thang expressed his gratitude for the trust placed in him by PVOIL's leadership. He pledged to work tirelessly, leveraging his knowledge and experience, to drive TIMEXCO's development in alignment with PVOIL's strategic objectives./.

Mr. Cao Hoai Duong - Secretary of the Party Committee and Chairman of PVOIL's Board of Management; Mrs. Le Thi Thu Huong - Deputy General President of PVOIL; Timexco Board of Directors presented the Resolution and a floral arrangement to Mr. Nguyen Duc Thang, offering their congratulations

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