VinFast Auto Ltd. announced changes to its leadership as it enters the next phase of its development, effective as of January 5, 2024. Mr. Pham Nhat Vuong, founder and Chairman of Vingroup Joint Stock Company (Vingroup) ? VinFast's parent company ?

will transition from his current role as the Chairman of the Board of Directors of VinFast to assume the executive position of Chief Executive Officer ("CEO") of VinFast. He will continue to serve as a Director of the Company and now assumes the position of Managing Director. Concurrently, Madame Le Thi Thu Thuy will transition from her current role as CEO to assume the position of Chairwoman of the Board of Directors.

Mr. Pham will now directly oversee the operations of VinFast, including global production, sales, and marketing. The Board announced that Mr. Pham is uniquely suited to take on the CEO role at this important phase of VinFast's development, given his industry experience from founding and growing VinFast and his track record of leading Vingroup. Mr. Pham previously served as the Chairman of the VinFast's Board of Directors since March 2022, in addition to being Chairman of the Board of Directors of Vingroup.

In 2013, he became the first Vietnamese billionaire to enter the list of the world's richest individuals compiled by Forbes. Madame Thuy, who now transitions to the role of Chairwoman, served as the Managing Director of the Company's Board and CEO since March 2022. She joined Vingroup in 2008 as the conglomerate's Chief Financial Officer and was later appointed as the CEO of Vingroup and VinSmart Research & Manufacturer Joint Stock Company before resigning from those positions in 2014 and 2021.

She has been the Chairwoman of VinFast and Vice Chairwoman of Vingroup since the Company was founded in 2017.