Amid aggressive overseas growth and widening losses, VinFast has appointed Chairman Pham Nhat Quan Anh as its new global chief executive, succeeding billionaire founder and father Pham Nhat Vuong. The younger executive, already named VinFast chairman in May, will now take full command of the electric vehicle maker's worldwide operations while retaining his dual role as chairman and CEO of the domestic Vietnamese business.

Conglomerate parent Vingroup announced the leadership shift as the company pushes into Asia, Europe, the Middle East, and North America. VinFast posted a first-quarter net loss of VND 28.1 trillion ($1.1 billion), up 58.9% year-on-year, reflecting intense competitive pressures in the EV market.

A graduate of Singapore Management University, Pham Nhat Quan Anh has held senior roles across VinFast and various Vingroup entities, having been involved from the company's early domestic expansion in Vietnam through its international push. He will also continue serving as CEO of Vingroup's steel subsidiary VinMetal.

In a parallel move, Pham Nhat Vuong has promoted another son, Pham Nhat Minh Hoang, to global CEO of electric ride-hailing firm Green & Smart Mobility JSC (GSM), replacing Nguyen Quoc Tuan. Tuan transitions to global chairman, succeeding Vuong's wife, Pham Thu Huong. Both companies are restructuring management to accelerate overseas growth.

VinFast currently sells EVs across 16 countries and operates four plants in Vietnam, Indonesia, and India, producing both cars and electric scooters. Meanwhile, GSM operates in seven nations, is evaluating a potential U.S. entry by the end of 2026, and is preparing for a Hong Kong initial public offering.