VNG Corporation (stock code: VNZ) has officially appointed Kelly Yin Hon Wong as the new CEO, effective May 20, for a term of 5 years. Wong was previously the Deputy CEO and has served as acting CEO since September last year. He boasts over 20 years of leadership experience in various companies, including as Deputy CEO at KIDO and board member of Rồng Việt Securities Company. Lê Hồng Minh was relieved of his CEO duties to comply with public company regulations but will remain as Chairman of the Board. VNG, recognized for its online gaming and the messaging app Zalo, is currently facing financial difficulties, reporting a 1.1% decline in revenue for Q1 2025 and a loss of nearly 15 billion VND, marking the seventh consecutive quarter of losses. The company released four games in the first quarter and plans to launch LineAge 2M in Southeast Asia in Q2.
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