Vietnam's PECC2 to Elect New Board Members Amidst Leadership Changes, Proposes Salary Cut for Chairman

Vietnam's Power Engineering Consulting Joint Stock Company 2 (PECC2) is set to hold its 2026 annual general meeting on June 30, where it will propose electing two new members to its board of directors and one to its supervisory board. This comes as the company navigates a leadership transition following the investigation of its former chairman, Nguyen Chon Hung, and chief accountant, Bui Thi Ngoc Ly, by the Ministry of Public Security.

Despite the ongoing legal proceedings, PECC2 has outlined its business strategy and financial targets for 2026. The company projects a consolidated revenue of 2,503 billion VND, a significant 78% increase from 2025. Pre-tax profit is expected to reach 125 billion VND, with after-tax profit at 100 billion VND. PECC2 also plans to deepen its penetration into nuclear power, LNG, and renewable energy markets, including integrating energy storage systems and direct power purchase agreements.

In terms of compensation, PECC2 has proposed a monthly salary of 96 million VND for its full-time chairman in 2026. This represents a nearly 5% reduction from the 100.8 million VND salary in 2025. Non-executive board members and supervisors are expected to receive a monthly remuneration of 16 million VND, with the non-executive head of the supervisory board earning 16.4 million VND. The company intends to maintain a cash dividend of at least 5% in 2026, following a 10% dividend in 2025.