VinFast CEO Lohscheller steps down from post

German executive Michael Lohscheller is stepping down as CEO of VinFast Global, the automotive arm of Vietnamese conglomerate Vingroup.

Lohscheller will leave the position and return to Europe due to personal reasons, Vingroup said in a statement on Monday.

Lohscheller quit his job as CEO of the Stellantis brand Opel in July to lead VinFast's push to become a "global smart electric car company," with an emphasis on growing the brand's business in Europe and North America, according to a release. He moved to Vietnam for the post.

Vingroup said Le Thi Thu Thuy will take over Lohscheller's position of VinFast Global CEO. Thuy will remain Vingroup vice chairwoman.

Thuy will directly be in charge of overseeing VinFast's business activities in its current markets, including Vietnam, the U.S., Canada, France, Germany and the Netherlands, Vingroup said.

In the coming time, she will also lead market survey activities and expansions into other potential markets globally, Vingroup said.