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Mr. Bùi Cao Nhật Quân has been elected Chairman of Novaland Group, succeeding his father, founder Bùi Thành Nhơn. The board of directors of Novaland Group (NVL) announced that it unanimously approved appointing Mr. Quân as Chairman for the 2026–2031 term, replacing Bùi Thành Nhơn.
Earlier the same day, at the shareholders meeting, Mr. Quân was elected as a member of the board. Novaland’s leadership said the appointment reflects both a generational continuation and a shift in the company’s governance approach.
According to the company, Novaland is moving from founder-led leadership toward a more modern and flexible governance structure to adapt to the new context while preserving the core values behind the brand.
Mr. Bùi Cao Nhật Quân was born in 1982 and is the son of Bùi Thành Nhơn. He holds a business administration degree from Western Washington University in the United States and has more than 20 years of experience, directly participating in company operations across multiple stages.
Previously, Mr. Quân served as Chairman of the Supervisory Council of Novaland.
Alongside the leadership change, Novaland established the Strategy – ESG Committee and appointed Bùi Thành Nhơn as its chairman. The committee is tasked with advising on Novaland’s mid- and long-term strategic development and ensuring alignment with sustainable development goals and ESG standards.
In the company’s press release, Novaland said: “Mr. Bùi Thành Nhơn will continue to guide, supervise, and energize Novaland as it enters a new development phase.”
At the annual general meeting, Bùi Thành Nhơn said the board had discussed the leadership transition carefully and laid out a structured plan to ensure stability and sustainable growth for NVL.
He said Novaland needs a combination of experience from the previous generation and the energy and innovative thinking of the next generation. The new leadership will directly operate and lead the company in the next development phase, which he described as “sustainable but fast and strong.”
He added that, with the dynamism and decisiveness of younger leadership—who have grown up facing challenges—Novaland is expected to recover and grow strongly again.
For this year, Novaland set revenue of VND 22,715 billion and net profit of VND 1,852 billion, down slightly by 0.5% due to rising interest rates.
The company also aims to stabilize cash flow by delivering more than 2,600 units and selling more than 2,100 units.
At a recent press briefing, Novaland’s leadership said the company has passed its toughest period and that comprehensive restructuring is “virtually complete.” The company targets 2026 as the final year of corporate restructuring.
Novaland said it will continue implementing measures including restructuring payment schedules to align with existing debt, and raising funds through private share placements and other financial institutions to secure resources for project development.
Last week, NovaGroup—the parent company of Novaland—announced that Bùi Thành Nhơn transferred the role of chairman of the Board to Bùi Cao Nhật Quân. Nhơn will remain involved in strategic direction and accompany the leadership, and he continues to serve as chairman of Nova Holding, the parent company with controlling shares in NovaGroup.
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