Green SM, the Vietnamese electric mobility powerhouse, has announced a significant leadership transition with the appointment of Nguyen Quoc Tuan as its new Chief Executive Officer. The change, effective June 16, sees Tuan taking the helm from Nguyen Van Thanh, who resigned for personal reasons. This move comes as the Vingroup-backed company accelerates its ambitious domestic and international expansion plans.
Profile of the New Leadership
Nguyen Quoc Tuan brings a wealth of experience in finance and corporate management to his new role at Green SM. He holds a Master of Business Administration from the Dublin Institute of Technology and previously served as a director at Indochina Capital for a decade. Tuan joined the Vingroup ecosystem in 2022, where he held senior advisory and deputy general director positions.
His appointment is viewed as a strategic step to guide the company through its next phase of growth, which includes potential public offerings. Tuan's background in capital management and his familiarity with Vingroup's operations position him well to navigate complex financial landscapes. This expertise will be crucial as Green SM continues to scale its operations globally and solidify its financial footing.
Acknowledging the Founding CEO's Tenure
The leadership change marks the departure of Nguyen Van Thanh, who has been the CEO since Green SM's establishment in March 2023. He cited personal reasons for his resignation after successfully guiding the company through its critical first year of operations. During his tenure, the company rapidly established a significant presence in the Vietnamese ride-hailing market.
Before leading Green SM, Thanh held key positions within Vingroup, including Deputy General Director roles at both VinBus and VinFast. His contributions to the mobility sector were recognized when he was named in the Forbes Under 30 Asia list in 2022. His departure concludes a foundational period for the fast-growing electric vehicle transport service.
Broader Corporate Restructuring
This CEO transition is part of a wider series of strategic adjustments within Green SM's leadership and corporate structure. In March, the company appointed Pham Thu Huong, Vice Chairwoman of Vingroup, as its new Chairwoman, replacing the founding chairman. These high-level changes signal a period of significant organizational evolution for the young but influential company.
The restructuring efforts also include substantial capital increases and business consolidation to streamline operations for future growth. A key move was the merger with Green Future, a vehicle rental and used EV trading business, in February. This consolidation aims to create a more integrated and efficient electric mobility ecosystem under the Green SM brand.
Accelerating Global Expansion
Under its new leadership, Green SM is expected to continue its aggressive push into international markets. The company has already launched services in Laos, Indonesia, and the Philippines, establishing a strong regional footprint. This expansion is a core part of its strategy to become a leading player in the global electric mobility sector.
Recently, the company marked its entry into India, one of the world's largest mobility markets, by launching its Green SM Limo service in New Delhi. In the Philippines, it further solidified its presence by signing a memorandum of understanding with 75 local transport operators. These initiatives underscore the company's commitment to building a robust international network and adapting its model to diverse markets.
Dominance in the Domestic Market
While expanding globally, Green SM has also achieved a commanding position in its home market of Vietnam. The company's all-electric fleet now operates across 34 provinces and cities, offering a range of services from ride-hailing to delivery. This rapid domestic rollout has fundamentally reshaped the local transportation landscape in just over a year.
Recent industry data highlights the company's remarkable success, indicating it has surpassed established competitors like Grab and Be. According to Mordor Intelligence, Green SM captured a majority market share of 51.5% in the four-wheel ride-hailing segment by gross merchandise value. This achievement demonstrates strong consumer adoption of its sustainable and modern transportation solutions.
The appointment of Nguyen Quoc Tuan as CEO heralds a new chapter for Green SM, aligning its leadership with its ambitious growth trajectory. This transition, coupled with ongoing corporate restructuring and a clear strategy for global expansion, positions the company for sustained momentum. As Green SM continues to dominate its domestic market and explore new international frontiers, all eyes will be on its next moves toward a potential IPO.