PETEC and TIMEXCO change Chairman

25.06.2021

00:00/00:00

Technical Trading and Investment Corporation – JSC (PETEC) and Thu Duc Import-Export Trading Company (TIMEXCO), two subsidiaries of PVOIL have new Chairman of Board of Management.

On June 24th, 2021, PVOIL held a ceremony to announce the Decisions on introducing two candidates to the position as Chairman of the Board of Management of two subsidiaries which are PETEC and TIMEXCO. The personnel change has been made in accordance with PVOIL's guidance on personnel organization.

The ceremony was attended by Mr. Cao Hoai Duong, Secretary of the Party Committee and Chairman of the Board of Management of PVOIL, Mr. Doan Van Nhuom, PVOIL President & CEO. Board of Directors of PETEC and TIMEXCO attended the event via a virtual meeting.

Accordingly, Mr. Nguyen Tuan Tu, Deputy President of PVOIL was elected as the Chairman of the Board of Management of PETEC, term 2021-2025, replacing Mr. Do Hoang Phuc.

Mr. Do Hoang Phuc, Former Chairman of the Board of Management of PETEC as Chairman of the Board of Management of TIMEXCO, term 2018-2023, replacing Mr. Vo Khanh Hung.

Speaking at the Ceremony, Mr. Cao Hoai Duong, Secretary of the Party Committee and Chairman of the Board of Management of PVOIL said that it was the first time the Corporation held a ceremony to announce the high-ranking personnel decisions via a virtual event to prevent the COVID-19 pandemic.

According to PVOIL Chairman Duong, PETEC is a large enterprise with high business output. PETEC have a large system of storage and warehouses across the country. Besides production and business activities, PETEC has to carry out a very important task of corporate restructuring.

Mr. Cao Hoai Duong highly evaluated Mr. Nguyen Tuan Tu, who has much experience after undertaking many important positions in several important sectors of PVOIL. He has demonstrated leadership and management capabilities well.

In order to meet the job requirements, the Corporation assigned Mr. Nguyen Tuan Tu to hold the position of Chairman of the Board of Management of PETEC. Mr. Duong hopes that Mr. Tu will lead the Board leaders, employees of PETEC to perform the important tasks company.

For TIMEXCO, on behalf of the Board of Management of PVOIL, Mr. Cao Hoai Duong thanked Mr. Vo Khanh Hung for his contribution during the time working as the Chairman of the Board of Management of the company.

He congratulated Mr. Do Hoang Phuc for being assigned the new role. PVOIL Chairman Cao Hoai Duong wishes Mr. Phuc to promote his role, capacity together with the members of the Board of Management and the Board of Directors of TIMEXCO to promote the inherent tradition and efficiency of production and business, helping the company develop, affirming that TIMEXCO as one of the member units with the highest sales volume and retail proportion of the Corporation.

Accepting the assignment, Mr. Nguyen Tuan Tu thanked the Board of Management of PVOIL for its trust and assign him the important task. Mr. Tu admitted that the new role is both an honor and a challenge, but committed to try his best to complete the business target and business restructure. He hoped to receive the consensus and support of the Board of Management and PETEC staff to successfully complete the assigned tasks.

Mr. Do Hoang Phuc thanked the trust of the Board of Directors of PVOIL. He committed to complete the work as well as the orientations of the Corporation and TIMEXCO. He is looking forward to receiving the support of the Board of Management as well as staff to be able to successfully complete the assigned tasks.

Mr. Cao Hoai Duong - Secretary of the Party Committee, Chairman of the Board of Management of PVOIL (left) and Mr. Doan Van Nhuom – PVOIL President & CEO (right) handed the Decision to Mr. Nguyen Tuan Tu