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Grab has been in the headlines a lot lately: Its latest revenue figures have plunged, its stock prices have tumbled, and it recently had to settle with ex-staffers following a dispute over employee shares.
To make matters more complicated, in Vietnam – one of Asia’s fastest-growing economies – Grab is seeing a major leadership change. Nguyen Thai Hai Van, the firm’s managing director, has resigned from the post after about two years on the job. In today’s story, we take a look at Nguyen’s journey with the company, right up to her recently announced resignation.
With bad news coming in one after the other, the firm will look to quickly find a suitable replacement to steer its Vietnam prospects out of troubled waters.
Today we look at:
- Grab Vietnam’s managing director moving on after more than two years at the firm.
- A partnership in Vietnam between two super apps
- Other newsy highlights such as a new e-grocery service from Traveloka and TikTok’s new music platform.
Premium summary
Heading out
Image credit: Timmy Loen
Nguyen Thai Hai Van, managing director of Grab Vietnam, announced her resignation from the company at a company townhall last week. She will leave her position at the end of April, with the firm yet to announce a replacement.
- Advancing forward: Nguyen joined the super app in November 2019 after a 17-year stint at Unilever Vietnam. Her appointment as managing director of Grab Vietnam was announced shortly after – in January 2020. She was to Grab’s next growth phase in Vietnam after her predecessor, Jerry Lim, moved to a regional role.
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A turbulent period: Soon after her appointment, Nguyen had to deal with the onset of the pandemic. While Grab Vietnam saw its revenue fall by 9% in the third quarter of 2021 due to the country’s fourth Covid-19 wave, Nguyen led the Vietnamese team through the period of uncertainty and also helped launch the Grab for Good program.
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Brighter skies on the horizon: Despite setbacks during the pandemic, a report in 2020 found that Grab has nabbed a 75% share of Vietnam’s ride-hailing market amid competition from the likes of Indonesia-based Gojek and homegrown firm Be. This follows Grab’s announcement in August 2019 that it would be channeling US$500 million into Vietnam, which Grab views as its “next growth market.”
Read more: Grab Vietnam country head to resign
Super app team up
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