On August 15, the Electricity Finance Joint Stock Company (EVN Finance) submitted documents to the State Securities Commission and the Ho Chi Minh City Stock Exchange, disclosing a series of extraordinary corporate events.

Specifically, the EVN Finance Board of Directors (BOD) received a resignation letter from CEO Mai Danh Hien and a separate resignation from Le Manh Linh, who stepped down as Vice Chairman of the Board for the 2023–2028 term.

On the same day, the BOD issued Resolution No. 32 removing Mai Danh Hien from the CEO position and Resolution No. 34 relieving Le Manh Linh of his Vice Chairman role.

According to the company's disclosure, Le Manh Linh was appointed as a Board Member and Acting CEO effective August 21, 2025. The BOD also approved him as the proposed candidate for permanent CEO, pending approval from the State Bank of Vietnam.

Mai Danh Hien will assume the role of Vice Chairman of the Board for the 2023–2028 term, also effective August 21, 2025.

In addition, the BOD reappointed Le Anh Tuan as Deputy CEO for a five-year term starting September 15, 2025.

The announcement clarified that, beginning August 21, 2025, Board Chairman Pham Trung Kien will serve as the legal representative of EVN Finance.

Previously, VietNamNet reported that the State Bank of Vietnam’s Inspectorate had issued audit conclusions identifying numerous violations in EVN Finance’s corporate governance and operations. These included internal credit activities, credit concentration among major clients, large personal loans, and improper handling of bad debts and off-balance sheet recoveries.

The Chief Inspector also issued a decision imposing administrative penalties totaling VND 635 million (approximately USD 24,000) for three violations: issuing credit to ineligible individuals and organizations, misclassifying financial assets, and extending foreign currency loans domestically without proper authorization.

EVN Finance paid the full fine on June 6, 2025.

Tam An