Novaland (NVL) recently announced candidates for its board of directors (BOD) ahead of the 2026 annual general meeting. The company put forward three nominees to fill positions whose terms expire this year.
Among the candidates is Bui Cao Nhat Quan, son of founder Bui Thanh Nhon. Born in 1982, Mr. Quan holds a bachelor's degree in business administration from Western Washington University, United States. He brings over 20 years of operational experience, having directly managed the company through various phases. He currently serves as Chairman of Novaland's Executive Board.
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Bui Cao Nhat Quan, son of founder Bui Thanh Nhon. Photo: NVL
Mr. Quan's nomination follows his recent appointment as Chairman of the board of directors of NovaGroup, Novaland's parent company. This transition, according to the group, is a pre-planned step to ensure continuity, succession, and adaptability in a changing environment.
The other nominees for the board are Hoang Duc Hung, proposed as an independent member, and Pham Tien Van, as a board member. Both individuals offer extensive experience in finance, external relations, and strategic management, including ESG principles.
Bui Thanh Nhon, the founder, will continue to play a pivotal role, focusing on strategic direction and long-term vision. He will also chair Novaland's human resources and ESG strategy committees, working alongside the leadership team. Additionally, Mr. Nhon retains his position as Chairman of Nova Holding, the ultimate parent company with a controlling stake in NovaGroup.
Currently, Mr. Nhon holds 4,33% of Novaland's capital (NVL), while Mr. Quan holds 3,37%. The total ownership of the Nhon family group stands at 39,79%.
Novaland's 2026 annual general meeting is scheduled for 23/4. The company projects a record revenue of VND 22,715 billion and a profit after tax of VND 1,852 billion for the year, a slight decrease of 0,5% attributed to the rising interest rate environment. Key priorities include stabilizing cash flow by accelerating the handover of over 2.600 products and achieving sales of over 2.100 new products.
At a recent press briefing, Novaland's leadership indicated that the company has navigated its most challenging period, with a comprehensive restructuring process "basically complete". They aim for 2026 to be the final year of corporate restructuring. Future initiatives will include: structuring a suitable payment roadmap for existing debt; and raising capital through private stock issuance and engagement with financial institutions to secure resources for project development.
By Tat Dat
