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VietNamNews

PetroVietnam chief removed, temporary successor found

Update: July, 21/2015 - 08:37
Former Chairman of PetroVietnam Nguyen Xuan Son. — Photo vietnamnet.vn
HA NOI  (VNS) — Prime Minister Nguyen Tan Dung has decided to remove Nguyen Xuan Son from the post of the Chairman of the Viet Nam Oil and Gas Group (PetroVietnam).

As per the decision signed by the PM last Sunday, Son will be assigned a new task at the industry and trade ministry after being removed.

The decision, which took effect the same day, was made based on a proposal by the Ministry of Home Affairs and the Ministry of Industry and Trade.

Son was born in 1962 in the central province of Ha Tinh. He was appointed chairman of PetroVietnam a year ago.

Prior to that, Son was deputy director-general of the group.

He was a member of the Board of Directors of the Ocean Commercial Joint Stock Bank (OceanBank) when PetroVietnam contributed capital to the bank. He was the bank's director-general for more than a year, from January 2009.

In April this year, OceanBank was taken over by the State Bank of Viet Nam (SBV) for showing "fragile operations with serious mismanagement," as the SBV said in an online statement. All stakes in OceanBank were transferred for zero dong per share.

Also on Sunday, Prime Minister Dung approved the plan of the ministries of industry and trade and home affairs to temporarily assign PetroVietnam Director-General Nguyen Quoc Khanh as chairman of the group. Khanh was born in 1960 in Ha Tinh Province. He was appointed director-general of the group last November. — VNS

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