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MWG appoints new CEO

Released at: 20:26, 21/09/2018

MWG appoints new CEO

Mr. Doan Van Hieu Em (left) and Mr. Tran Kinh Doanh (right) Photo: MWG

New CEO to lead two large chains of MobileWorld Investment JSC.

by Do Huong

The MobileWorld Investment JSC (MWG) announced the appointment of a new CEO, Mr. Doan Van Hieu Em, on September 21, who will lead its two large mobile and consumer electronics chains, thegioididong.com and Dien may Xanh.

Mr. Hieu Em will replace Mr. Tran Kinh Doanh and is expected to continue making spectacular stories for MWG. Starting from March 2007, Mr. Hieu Em has eleven years of experience in many important positions at the company.

The appointment of an 8x-generation CEO heading a multi-billion-dollar retail company also proved two specific features of the leading retailer. The first is in selecting those who have competency and a full understanding of the culture of the company to take up key positions, and the second in believing and creating conditions for young people to experience a variety of positions to improve their skills and abilities to become leaders.

In the upcoming plan, the new CEO is determined to improve the market share of MWG’s two retail segments by over 50 per cent in the future. “Taking on a new responsibility is naturally accompanied by the pressure to commit greater than myself, but I feel this is a great opportunity,” said Mr. Hieu Em. “I set myself a goal of exceeding $8 billion in revenue for the two chains before 2022.”

The appointment comes in the context of the company moving towards a larger scale, becoming a multi-segment retailer with a variety of retail chains. His predecessor, Mr. Doanh, will now focus exclusively on leading the Bach hoa Xanh grocery chain to the No. 1 position in consumer goods and foodstuffs as well as being a member of MWG’s Board of Directors.

MWG recorded net revenue of VND58.7 trillion ($2.5 billion) in the first eight months of 2018, an increase of 39 per cent year-on-year. Net profit after tax was VND1.97 trillion ($84.4 million), up 36 per cent.

Online revenue reached VND7.6 trillion ($325.4 million), up 118 per cent compared to the same period last year.

Phones, tablets, laptops and accessories grew 19 per cent in revenue year-on-year in the first eight months, with 1,040 stores, while electronics, white goods and small appliances increased 83 per cent, with 731 stores. Groceries and FMCG grew 251 per cent from 405 stores.

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