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Novaland’s board of directors (NVL) approved the appointment of Bui Cao Nhat Quan as chairman of the board for the 2026–2031 term, replacing founder Bui Thanh Nhon. The leadership change follows Quan’s election as a member of Novaland’s board of directors at the company’s 2026 annual general meeting (AGM) on April 23, 2026.
The transition is described as both a generational handover and a move toward “modern, flexible governance” to adapt to the new environment while preserving the core values that built the Novaland brand.
Born in 1982, Quan is the son of Nhon and holds a business administration degree from Western Washington University in the United States. He has more than 20 years of experience and has participated in company management across different stages. Previously, he served as chairman of Novaland’s Supervisory Board.
At the AGM, Nhon said the board discussed and built a detailed plan for the leadership transition to ensure stability and sustainable growth of NVL. He said the plan requires combining the experience of the previous generation with the energy and innovative thinking of the next generation, with the new leadership directly operating and guiding the company in its next development stage.
“I believe that with the dynamism and decisiveness of the younger leadership, who have grown through challenges, Novaland will soon recover and develop strongly again,” Nhon emphasized.
Earlier, NovaGroup—the parent company of Novaland—also announced that Nhon handed the role of Chairman of the Board to Quan. Nhon will continue to provide strategic direction and accompany the management team. He remains Chairman of Nova Holding, the parent company holding controlling shares in NovaGroup.
For 2026, Novaland set a revenue target of 22,715 billion VND and an after-tax profit target of 1,852 billion VND. The after-tax profit target represents a slight 0.5% decrease, attributed to a rising interest-rate environment.
The company’s stated focus is on stabilizing cash flow by delivering more than 2,600 units and selling more than 2,100 new units.
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