13 Oct 2010

Vinashin has new board chairman

Prime Minister Nguyen Tan Dung has assigned Nguyen Ngoc Su, deputy chairman of the Vietnam Oil and Gas Group (PetroVietnam), to be chairman of members’ board at the Vietnam Shipbuilding Industry Corporation (Vinashin).
Last week Truong Van Tuyen took over as general director from acting chief Nguyen Quoc Anh.
Tuyen, 60, is a former general director of the state-owned PetroVietnam and the current head of the Dung Quat oil refinery.
Anh had taken over from Tran Quang Vu August 30 after the latter was suspended and then arrested on charges of mismanaging state assets while serving as the head of a Vinashin subsidiary in the early 2000s.
Vu himself had only been appointed July 1 in place of Vinashin's founding director Pham Thanh Binh who had been arrested on similar charges.
A government audit had found the company having debts of US$4.5 billion.
Police have so far arrested six Vinashin officials, including the two former chief executives.

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