Vietlott boss steps down, hunt for new CEO begins

The chief executive officer of state-owned lottery company, Vietnam Lottery Co. Ltd. (Vietlott) resigned earlier this month, according to an announcement from the Ministry of Finance.

Tong Quoc Truong, CEO of Vietlott, reportedly resigned on October 1 due to “personal reasons”, no further reasons were given for the abrupt departure, however, it was noted that Truong had been Vietlott's CEO since the company's foundation in August 2012.

His deputy Nguyen Thanh Dam has been appointed as the acting CEO, and it is understood that a new CEO will be appointed next week.

Vietlott has seen massive success in the market with its offering of an American-style lottery.