Leadership lessons from finance visionary Huy Chung FCPA

As career journeys go, it is hard to beat the story of Huy Chung.

The finance industry veteran left Vietnam in 1978, aged 7, on a boat bound for “anywhere”. After landing on a Malaysian island, his family was eventually processed to immigrate to Brisbane in Australia to start a new life. Chung returned to Vietnam 30 years later — flying business class — to take up a CFO role with Coca-Cola.

“I was among the first set of boat people who arrived in Australia back in the 1970s after the war,” says Chung. He leads a diversified team supporting corporate services and distribution in Vietnam for SPX Express, a leading e-commerce logistics company that is part of the Shopee network.

His tough start in life included losing his biological father, who died at war, and then having to pick up the pieces as a refugee in a foreign land with his mother and stepfather. “I did all my education and schooling in Australia and, seeing what my parents went through as refugees and starting all over again in Australia, it gave me real motivation to get ahead.”

Chung’s first big career break came in 1996 after graduating from university and landing a job with Coca-Cola in its Brisbane office.

Initially performing basic tasks such as collecting and offsetting cheques, handling accounts receivable and chasing outstanding accounts, he never gave up on his goal of rising through the ranks to “become someone”.

“I always wanted to live and work overseas, and particularly in Vietnam, given my roots there. The opportunity arrived in 2007 when Coca-Cola called and asked if I was interested in taking up a CFO role for the company in Vietnam. Of course, I jumped at the opportunity — a dream come true, finally.”

Almost 20 years later, as Chung ponders his career highlights, one task stands out for its complexity and novelty: helping to navigate the reopening of Coca-Cola’s bottling plant in Myanmar after a 60-year hiatus.

 

"I always wanted to live and work overseas, and particularly in Vietnam given my roots there. The opportunity arrived in 2007 when Coca-Cola called and asked if I was interested in taking up a CFO role for the company in Vietnam. Of course, I jumped at the opportunity — a dream come true, finally."

 

Chung, who spent more than two decades with the iconic beverage brand, says a rare combination of banking, political and logistical challenges had to be overcome before bottling could resume in the South-East Asian country in 2013.

Myanmar at the time had been subject to strict United States-imposed sanctions.

“At the time there were only three countries left in the world where Coca-Cola was not officially sold — North Korea, Cuba and Myanmar,” Chung says. “So, it was an opportunity you couldn’t refuse in terms of being part of history and setting up a new Coca-Cola business in a new country.

It wasn’t just about bringing the product to Myanmar, but having the chance to lead people through the change and make improvements to the business. That was a huge highlight of my career.”

More than a safe bet

Now based in Ho Chi Minh City at SPX Express, Chung’s résumé features a range of finance and leadership roles across the accounting, private equity, fast-moving consumer goods and e-commerce sectors.

This success justifies the confidence Chung had as a teenager that accounting would be a “safe bet” for a long-term career.

“During high school I always had an interest in accounting,” he says. “I had the view that with anything we do in the world in business, or even in our personal lives, you’re always going to need finance and accounting.”

That is certainly true of his current role at SPX Express, as the Singapore headquartered company continues to expand and take on e-commerce rivals such as Temu and TikTok Shop and their logistics providers. Chung is confident that a focus on a strong finance and data-driven division will allow the Vietnamese arm of the company to thrive and grow in the e-commerce market.

“There are 100 million people in the country with just as many smartphone sims, but not everybody is buying from e-commerce platforms,” Chung explains. “So, we see a lot of potential here in Vietnam and especially in rural areas, where smartphones and buying online is not common at the moment.”

Sharing "grey hair experience"

Courtesy of his long stint at Coca-Cola and experience at international private equity firm TPG, Chung has brought considerable cross-functional business knowledge to SPX Express since joining just over three years ago.

As Chung puts it, he can pass on valuable “grey hair experience” thanks to his past roles. “At Coca-Cola I was on the bottling side, so it was all about distribution, and here at Shopee it’s about distribution as well as delivery to the door, so I have been able to share some of my experiences.”

 

"It was an opportunity you couldn’t refuse in terms of being part of history and setting up a new Coca-Cola business in a new country. It wasn’t just about bringing the product to Myanmar, but having the chance to lead people through the change and make improvements to the business. That was a huge highlight of my career."

 

More than anything, he believes his background in improving businesses adds value. “Throughout my career, it’s always been about how to build change, understanding what’s going on through the numbers, and working out what can we do differently and what we can do better. How can we make things better for tomorrow?

“As CFO, it’s not just about the hard numbers and P&L and balance sheets and cash flows. It’s about being able to navigate through challenges related to areas such as politics, public relations, changing economics — and a lot of the time dealing with vendors as well.”

Leading future talent

At SPX Express, Chung heads a business insights and strategy team of more than 100 people. One of his principal goals as a leader has always been to promote people development. 

“That’s at the forefront of what I do, because I feel strongly that without people, a business is just four walls, the ceiling and a licence to operate,” Chung says.

To that end, he insists on setting a vision that gives purpose and direction to his teams “because when people know where they belong, how they belong and how they contribute, they can all move together in the same direction”.

In the age of generative artificial intelligence and other technological advances, the emphasis on great people should not be diminished, according to Chung. “They’re just tools and people need to operate them. Soon AI may help with financial planning and analysis, but I think it’s still going to be people who will use those outputs to drive change.”

As a senior leader who has come back to live in Vietnam for a second time, Chung has been impressed with the talent of young accountants coming through the ranks who “can interpret the numbers and turn them into a story”.

“The quality and capabilities of the Vietnamese staff have taken a huge turn, and the chance to work with these young, energetic and very tech-savvy people has also given me an energy boost.”

Connection and support

During his career, Chung has often drawn on the skills and networks he acquired through first studying for his CPA and later achieving the FCPA designation. The ability to access other CFOs and “hear their pain points” has been invaluable in his rise through the corporate ranks.

“Being recognised as an expert or a finance professional through the CPA designation has also been really valuable,” he says.

Chung has prospered on the back of a personal commitment of “making today better than yesterday”. The philosophy has helped him take on personal and professional challenges, including during the Coca-Cola project in Myanmar. He reflects fondly that the popular soft drink is still being consumed today in Myanmar.

“Despite political unrest, Coca-Cola still is operating there, and in fact it’s gone from strength to strength.”

For Chung, pride also comes from being one of Australia’s refugee success stories.

“If it wasn’t for Australia and for the support of Australians, our family wouldn’t have been able to get through, nor would I have the education, the experience and the career opportunities I’ve had. For sure, Australia has made a huge contribution to my journey.”

One piece of advice

“Dream big.” “Of course there will be ups and downs in life and business, but make sure that you have the resilience to weather challenges. Never give up — and raise the bar each time to achieve your destiny.”