A Giao Hang Nhanh Express deliveryman. The firm's former CEO Nguyen Tran Thi has joined Vingroup's logistic arm One Mount Group. — Photo genk.vn

Nguyen Tran Thi, former CEO of delivery firm Giao Hang Nhanh Express, has joined Vingroup’s logistics arm One Mount Group, he shared this information on his facebook's account.

Thi also plans to sell his entire stake in the company he co-founded seven years ago, business insiders told local media.

Reports suggest Thi left Giao Hang Nhanh after disputes with the board of directors at parent firm Scommerce.

One Mount Group was founded by Vingroup and its partners on September 26, 2019 and has charter capital of VND3 trillion (US$129 million).

The real estate and retail conglomerate firm holds 51.22 per cent of the logistic firm’s capital.

It will focus on B2C (business to customers) model that helps it sell products directly to final consumers.

The firm’s shareholders want to diminish the middle stages to cut costs. If done, Vingroup will be a game changer in the retail sector where delivery firms are fiercely competing to win online sellers. — VNS