The Board of Management of Vietnam National Petroleum Group or Petrolimex has appointed Pham Van Thanh as chairman, replacing Bui Ngoc Bao who retired on 1 May 2018, after reaching retirement age.
Pham Van Thanh, 46, was a member of the Petrolimex Board of Management before his appointment as chairman. Prior to this, Thanh was a director of the Petrolimex Joint-Stock Insurance Company, Hai Phong branch, and general director of Petrolimex Aviation Fuel Joint Stock Company (Petrolimex Aviation). Under his management, Petrolimex Aviation has achieved a total market share of more than 30%, supplying aviation fuel to five key airports: Tan Son Nhat, Noi Bai, Cat Bi, Da Nang and Cam Ranh.
During the Petrolimex Annual General Meeting on 27 April, Petrolimex shareholders also approved the list of additional members to the Management Board and the Supervisory Board. Yoshihiro Sato will represent the equity of foreign shareholder JXTG Group of Japan in the Management Board, replacing Hitoshi Kato, while Pham Thi Dung and Hoang Mai Ninh will be the new members of the Supervisory Board, representing the shareholders.
As such, the Board of Management of Petrolimex in the coming term will consist of Chairman Pham Van Thanh and other members, namely Nguyen Thanh Son, Pham Duc Thang, Tran Ngoc Nam, Le Van Huong, Nguyen Anh Dung, and Yoshihiro Sato.
On May 14, the Board of Management announced the appointment of two new Deputy Director Generals, Nguyen Thanh Son and Nguyen Xuan Hung.
Petrolimex, which is headquartered in Hanoi, accounts for 55% of Vietnam’s total oil-related imports, with a 55% share of the oil products market. Petrolimex operates 2,352 gas stations out of the 14,000 in operation in Vietnam, focusing on remote and distant areas. Besides petroleum and natural gas, the company has significant subsidiaries in the fields of insurance, transport and trading.