On March 17, 2025, the Asia Refrigeration Industry Joint Stock Company (ARICO) held an Extraordinary General Meeting of Shareholders 2025 to elect new members for the Board of Directors and the Supervisory Board. On this occasion, Mr. Lê Tấn Phước, the former Chairman of the Board of Directors, delivered an emotional speech reflecting on his journey of accompanying ARICO through its establishment and development. He also announced his decision to step down from his role as Chairman of the Board of Directors.
A heartfelt thank you and best wishes for his health. Below is the content of Mr. Lê Tấn Phước’s Letter of Resignation.
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LETTER OF RESIGNATION
To: The Board of Directors, Executive Board, and all employees of ARICO
Cc: The Board of Directors and Executive Board of SEAREFICO
My name is Lê Tấn Phước. I have had the honor to serve as the Chairman of Asia Refrigration Industry Co. Ltd. (ARICO) since 2017.
Today, with a deep sense of gratitude and optimism, I am writing this letter to officially resign from my position as Chairman and Member of the Board of Directors of ARICO, effective from March 17, 2025. This decision aligns with our commitment to restructure the Board of Directors of Arico in accordance with the share holders agreement (SHA) with Hoshizaki, our new partner who will hold 51% of Arico’s shares. Accordingly, Arico Board will consist of 07 members, in which Hoshizaki to nominate 04 members and undertake the role of Chairman of the Board.
This collaboration is not merely a transition—it is a bold step forward. By joining forces with Hoshizaki, we are unlocking new opportunities and a future of limitless possibilities for Arico. This partnership will also create valuable synergies within Searefico Group, allowing us to build a more diverse ecosystem.
I would like to express my sincere gratitude to everyone who has walked this journey with me, sharing both the proudly victory moments and the difficult challenges. I also extend my congratulations to the new Board of Directors and Executive Team, with the participation of HOSHIZAKI. Together, we will quicky bring our Made in Vietnam products to the world, backed by Japanese technology, with superior quality and competitive pricing.
Looking back on this journey, I feel truly proud and deeply moved to have worked alongside with the dedicated, passionate, and desired team at ARICO. It is your hard works that shape ARICO a company be entrusted and respected. Although I will no longer be directly involved, I will continue to support and collaborate with ARICO post M&A, in my capability as the Chairman of SEAREFICO.
I wish all of you, ARICO team and HOSHIZAKI team great health, happiness and success. Let’s work together to build a new era of ARICO.
Sincerely,
Le Tan Phuoc
Chairman of the Board, SEAREFICO
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