The board of directors of the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has elected Nghiem Xuan Thanh as chairman of the board of directors for a term lasting to 2018, replacing Nguyen Hoa Binh.

Specifically, according to a press release from Vietcombank, Nghiem Xuan Thanh, currently a member of the board of directors and CEO of the bank, was appointed to replace former chairman Nguyen Hoa Binh, who retired.

According to the press release Thanh, born in 1969, is a master of finance and banking, with 25 years of experience in the field. Thanh held many important positions before being elected as a member of the board of directors and was appointed to concurrently hold the post of the bank’s general director in July, 2013.

The bank’s board of directors has also picked another member from its board for the post of the bank’s general director to fill the vacancy created by Thanh’s appointment.

Pham Quang Dung, currently a member of the board of directors and deputy general director of the bank, was promoted to the position of general director of Vietcombank for a period of 5 years from November 1, 2014, according to the press release.

Dung, born in 1973, has worked for Vietcombank since 1994. He has held many important positions at the bank including deputy chief of Cabinet and head of the bank relations agency before being appointed deputy general director and was elected as a member of the board of directors in April, 2013.

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