At REE (Cơ Điện Lạnh), the 2026 Extraordinary General Meeting of Shareholders marked a major leadership transition as Ms. Nguyen Thi Mai Thanh stepped down from the position of chair of the board, while remaining involved as Chair of the Strategy Committee. Thanh highlighted a 44-year partnership with REE and reflected emotionally on her long tenure in roles including CEO and Chair.
"To date I have partnered with REE for 44 years, including many years in roles such as CEO and Chair. And from now on, I officially leave the position of Chair of the Board," Thanh said during the meeting.
The board noted a shift toward a board with five members characterized by high consensus and a determination to build a solid foundation. It also approved the expansion of the Strategy Committee's role as the highest advisory body to the Board, focusing on direction, governance, fundraising, investment, and core policies.
"Being entrusted with a position is not to feel big or powerful, but to work with all one's heart and effort. I have prepared for a strong leadership transition at REE. I will continue to work closely with colleagues to achieve core objectives... I believe the new executive team will be the nucleus that drives REE toward brighter successes," Thanh added, expressing gratitude to shareholders and employees.
At the 2026 Extraordinary General Meeting, the board approved the dismissal of the Board Member positions for the 2023-2027 term held by Ms. Nguyen Thi Mai Thanh and Mr. Ashok Ramachandran, per resignation letters dated May 15. It had previously been announced that Nguyen Ngoc Thai Binh, Mai Thanh’s son, would sit as CEO, replacing Ashok Ramachandran.
To comply with public company regulation that Chair and CEO must not be related, Thanh also resigned from the Chair and Board Member positions as of 10/07. The replacement for the Board Chair is Mr. Lee Liang Whye, representative of major shareholder Platinum Victory Pte Ltd under Jardine Cycle & Carriage (JC&C).
"Over the past period, the Group has welcomed two CEOs but neither has truly fit. Therefore, the Board has resolved to fill the gap and temporarily appoint someone to the role. Now that business operations should be continuous, the Board respectfully proposes a candidate for the new position," Mai Thanh said.
Mr. Nguyen Ngoc Thai Binh—Thanh's son—was discussed as taking the CEO role, but the board also described a temporary appointment. Mr. Binh has 18 years of experience at REE, with a deep understanding of operations and development strategy and international-standard management thinking.
Mr. Lee Liang Whye currently serves on the Board as a representative of Platinum Victory Pte Ltd and previously held the role of CEO. He is a governance executive, leading capital strategies, and has held senior leadership roles including CFO and Head of Business Development before joining REE. He is identified as the replacement for the Board Chair.
"I believe the two new leadership positions will bring a vibrant, energetic dynamic. With the strong determination of the Board, management and staff, the Group will coordinate and develop well," Mai Thanh said.
Although stepping down as Chair, Ms. Thanh will continue to participate in REE's strategic management. The Board has appointed her to serve as Chair of the Strategy Committee under the Board. In response to questions about potential power conflicts between the Board and the Strategy Committee, Mr. Lee stated there is none, because the ultimate decision-making power remains with the Board.
The governance changes are intended to ensure business continuity and strengthen oversight. The Strategy Committee is described as the highest advisory body to the Board, providing direction, governance and policy guidance as REE pursues its strategic objectives.
No external expert commentary was provided in the source material.
