Boss loses major coffee firm to wife
Boss loses major coffee firm to wife
The chairman of the Trung Nguyen Coffee Corporation JSC, Dang Le Nguyen Vu, has lost control of the instant coffee company to his wife, according to a decision by the Binh Duong Province's Planning and Investment Department.
On July 13, the provincial department rescinded an earlier decision issued on April 21 that named Dang Le Nguyen Vu as legal representative of the Trung Nguyen Instant Coffee Company JSC.
According to the new decision, the department restored the previous business registration certificate of the company granted in November 2013, which named Le Hoang Diep Thao, Vu's wife, as the legal representative of Trung Nguyen Instant Coffee Company JSC.
The department's decisions were based on a request issued on May 13 by the People's Supreme Court in HCM City, which is in the process of ruling on the divorce between Vu and Thao.
Earlier, in a petition sent to Binh Duong authorities, Thao said that while waiting for the court's judgment, Vu, a member of the management board of the Trung Nguyen Instant Coffee Company JSC, removed her as chairperson and general manager of the company. She said his action was illegal because it was not authorised by a majority of the management board.
According to Viet Nam's Law on Enterprises, a legal representative is the company chairperson or general manager, who is authorised to represent the company and make important decisions on business operations, human resources, bank accounts and the company seal.
Trung Nguyen Corp JSC is an enterprise involved in coffee production, processing and distribution, operating under the brand name Trung Nguyen Coffee, one of the leading coffee brands in Viet Nam.
Its products have been exported to more than 60 countries, including the US, European Union, UK, Germany, China and Singapore.
Along with the Binh Duong Instant Coffee Factory run by Trung Nguyen Instant Coffee Company JSC, the corporation also has factories in Bac Giang Province, HCM City and Dak Lak Province.
Trung Nguyen operates a nationwide chain of coffee shops in Viet Nam and has granted franchises in other countries.
