FPT replaces CEO for the second time in less than two years

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FPT, Vietnam's technology and telecommunications giant, on Wednesday changed its leader for the second time since early last year with CEO Truong Dinh Anh submitting his resignation due to "differences" between him and other managers.

The company said in a press release that the resignation of Anh, who had his position in March 2011, was due to "differences in strategy planning and management methods between him and the board of management."

But he will continue to be a member of the management and founding boards, according to the company's statement.

Truong Gia Binh, who has been FPT's chairman since 2002, will take over Anh's position. He had held this post for 21 years before resigning in early 2009.

He will temporarily work as CEO from September 26 until early 2013 when the replacement is officially approved at the annual shareholders' meeting, according to the company's release.

FPT expects that Binh will help secure the company's stable development while waiting for a new CEO. Binh was credited with helping the firm become Vietnam's leader in technology and telecommunications in 2008 with a revenue of US$1 billion.

Anh was appointed as the third FPT CEO early last year, after his predecessor Nguyen Thanh Nam resigned, saying that he wanted to give way to a new generation of leaders.

Early last year, Nam was quoted by local media as saying that Anh at that time was "the best" choice to help FPT "fulfill its dream."  

Local media reported last month that Anh's two-month break fueled rumors that the absence was due to "his upset" with other managers.

Rumors also had it that he might be relieved of his position because company revenues were not rising as expected.

But Anh said then his absence was due to health and family issues. He returned to work in mid-September, before asking for permission to resign on Wednesday.

"I want to confirm that it [the reason for Anh's resignation] is due to the differences in point of view because there is no conflict of interest at FPT," Binh told VnExpress in an interview after reassuming the CEO post.

"At FPT, differences always exist. ... we understand and appreciate those differences. But for a CEO, these differences create a pressure that not all of them can easily accept."

FPT in late August lowered its revenues target this year from VND31.3 trillion ($1.5 billion) to VND26 trillion, down 17 percent, due to the economic meltdown.

The number also showed a 0.4 percent increase from a year ago, according to the company's plan.

It also expects a gross profit of about VND2.55 trillion, down 15 percent from the original VND3 trillion.

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