PVOIL has new Board chairman and general director

24.09.2020

00:00/00:00

On September 24, 2020, PetroVietnam Oil Corporation (PVOIL) held a ceremony to announce new chairman of the Board of Management and new president & CEO of the Corporation.

The ceremony to announce the resolutions and decisions from PetroVietnam, PVOIL’s parent company, was attended by Mr. Le Manh Hung - Deputy Secretary of the Party Committee, Member of the Board of Members and General Director of the Group, Mr. Le Xuan Huyen - Member of Party Committee’s Standing Committee, Deputy General Director of the Group, and representatives of the Boards and Office of PetroVietnam.

Representing PVOIL, members of the Board of Management, Board of Directors, Supervisory Board, Chief Accountant, President of Trade Union, Head of Departments, Office of the Corporation attended the ceremony.

Accordingly, PVOIL Board of Management approved Mr. Cao Hoai Duong to resign from his position as president & CEO of the corporation and appointed him the chairman of the corporation’s Board of Management from September 23, 2020.

At the ceremony, Mr. Doan Van Nhuom was appointed President & CEO of PVOIL, replacing Duong, from September 23, 2020.

PetroVietnam’s Party Committee’s Standing Committee appointed Mr. Doan Van Nhuom – newly-nominated President & CEO of PVOIL to join the Executive Committee, Standing Committee and act as Deputy Secretary of PVOIL’s Party Committee term 2020-2025.

On behalf of PetroVietnam’s leaders, General Director Le Manh Hung congratulated and wished the two PVOIL leaders to continue promoting their experiences and abilities and create close coordination between the Board of Management, the Board of Directors, departments and all employees in the corporation to achieve business plan of PVOIL in 2020 as well as implement PVOIL's development strategy for the Group’s development.

Mr. Cao Hoai Duong - Secretary of the Party Committee, Chairman of the Board of Management of PVOIL expressed his honor to be with PVOIL in a new position. He pledged to continue to contribute his energy to the corporation’s development. The new chairman said he will coordinate with the Board of Directors to bring PVOIL through difficulties in the current situation and successfully implement the medium and long-term plans of PVOIL approved by the Group.

Mr. Doan Van Nhuom - Deputy Secretary of Party Committee, President & CEO of PVOIL thanked PetroVietnam's Board of Management, PVOIL's Board of Management for assigning him the tasks.

He pledged to work with his best in performing his duties and responsibilities while promoting accumulated experience, solidarity to bring success to the corporation in the coming time.

On this occasion, the PetroVietnam’s leaders also worked with PVOIL on the business results of the first 9 months of 2020.

After listening to the reports, PetroVietnam's General Director Le Manh Hung acknowledged PVOIL efforts in the first 9 months of 2020 with several positive points. Despite the difficult market in tough conditions, PVOIL maintained its production output and retail market share well and successfully implemented plan to cut cost while applying technology to business activities by maintaining sales volume through the PVOIL Easy program.

Thanks to the effort, PVOIL has ensured production and business activities at the best level despite the economy has been affected by the Covid-19 pandemic and oil price war.

Hung encouraged PVOIL to continue promoting restructuring and reducing costs to optimize profit and asset use. He urged the corporation’s leaders to find solutions to promote and develop retail system, researching new development trends associated with anticipating market trends.

Under unpredictable market situation, the general director of PetroVietnam asked PVOIL’s leaders to draw experience learnt in past years to improve the management efficiency. He urged PVOIL to enhance market analysis and forecasting and be proactive and flexible in business operation.