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# Phạm Nhật Vượng Hands Over the CEO Job, but He Is Not Leaving Vingroup
- URL: https://en.thevietmedia.net/pham-nhat-vuong-sons-vinfast-gsm-ceo/
- Published: 2026-09-13T09:13:58.000Z
- Updated: 2026-09-13T09:14:20.000Z
- Description: On the same day, Vingroup founder Phạm Nhật Vượng's two sons became CEOs of VinFast and taxi operator GSM. One inherits a carmaker losing more than USD 1 billion a quarter; the other runs a company aiming for a Hong Kong listing in 2028.
- Author: The Viet Media
- Tags: Vietnam, Vietnam Economy, VinFast, Vingroup, People

\[Phạm Nhật Vượng Hands Over the CEO Job, but He Is Not Leaving Vingroup\]

On September 12, electric carmaker VinFast and electric taxi operator GSM, which runs the Green SM brand, announced new leaders on the same day. VinFast founder and Vingroup chairman Phạm Nhật Vượng stepped down as VinFast's global CEO. His eldest son, Phạm Nhật Quân Anh, 33, took the job. At GSM, Vượng's wife Phạm Thu Hương gave up the chair to the company's CEO, Nguyễn Quốc Tuấn. The CEO role went to Vượng's second son, Phạm Nhật Minh Hoàng, 26.

Quân Anh was already VinFast's chairman. He now holds both titles, and he also serves as chairman and CEO of VinFast Vietnam. He remains CEO of VinMetal, the group's steel producer.

Neither son arrived at the top without a track record inside the group, according to résumés released by Vingroup. Quân Anh started in 2015 at Vinpearl, the group's resort business. He moved to VinFast in 2019 as a senior assistant to the CEO, then worked across sales and marketing, production and global after-sales. From 2021 until this May he was vice chairman.

Minh Hoàng joined VinFast in 2021 as director of product strategy and became marketing director in 2022\. In 2024 he took charge of car rental company Green Future. In 2025 he moved to VinSmart Future, the group's technology arm, where he worked on a Vietnamese-language large language model. He joined GSM in June to run global operations and became CEO three months later. Both brothers also hold shares in more than a dozen Vingroup companies.

VinFast has had four CEOs before Quân Anh, and their backgrounds varied widely. The first two were former General Motors executive James DeLuca and former Opel chief Michael Lohscheller. The third, Lê Thị Thu Thủy, came from finance. She joined Vingroup as chief financial officer in 2008, became VinFast's CEO in March 2022 and led the company to its Nasdaq listing. In January 2024 she and Vượng swapped roles: Vượng, then VinFast's chairman, became CEO, and Thủy became chairwoman. The company said at the time that Vượng would personally oversee global production, sales and marketing. This May, Quân Anh took over the chair from Thủy. In September he replaced his father as CEO, the fifth person to hold the job.

The VinFast he inherits is still losing money. In the first quarter, the company posted a net loss of VND 28.1 trillion, about USD 1.12 billion, nearly 60% wider than a year earlier.

VinFast has also sold its Vietnamese manufacturing company. The deal, announced in May and completed at the end of June, handed the factories to a group of buyers who also took on about USD 6.9 billion in debt. Vượng himself joined the purchase as a minority investor. International media reported that some analysts and shareholders were uneasy, citing the deal's complexity and the buyers' ties to Vingroup and Vượng. After the split, research and development, sales and after-sales stayed with VinFast Vietnam, the company Quân Anh now chairs and runs.

GSM has grown fast. When it was founded in March 2023, Vượng and his wife held almost all of its shares, and its charter capital was VND 3 trillion. By late June this year, that figure had risen to VND 54 trillion. The company now operates in seven countries, including Vietnam, Laos, India and Denmark.

In an interview published in early September, a GSM spokesperson said the company plans to put fleets on the road in the United States, Sweden and the Netherlands by the end of the year, and to list in Hong Kong in 2028.

The two companies are closely linked. Every GSM taxi is a VinFast electric vehicle, and GSM says it plans to buy about 1 million VinFast cars between 2026 and 2030\. Those purchases are one source of VinFast's revenue growth. After this reshuffle, the brothers run both sides of that relationship: the buyer, GSM, and the seller, VinFast. Mehdi Jaouadi, a partner at Singapore-based consultancy YCP, has called GSM's expansion strategy high-risk. It is not yet clear, he said, whether its overseas fleets can reach enough utilization to justify the scale.

Vượng remains chairman of Vingroup, and he keeps a seat on VinFast's board after giving up the CEO title. Vingroup describes the changes as part of a push to develop talent internally and hand responsibility to a younger generation, as VinFast and GSM enter a phase of global expansion.

As Quân Anh takes over, VinFast has yet to report its second-quarter results. In a filing with the U.S. Securities and Exchange Commission at the end of July, the company said it needed more time to finalize the numbers after selling its Vietnamese manufacturing company, and that it would announce a release date later.

This article is based on public information and does not constitute investment advice.

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