Cuong Viet Do
About Cuong Viet Do
Independent director at Spark I Acquisition Corporation (SPKL) since December 2021; age 58 as of March 17, 2025. Former senior strategy executive (Samsung Group; Merck, Tyco Electronics, Lenovo) and ex–McKinsey senior partner with 17 years in healthcare, high tech and corporate finance; B.A. Dartmouth and MBA from Tuck School at Dartmouth. Currently President, CEO and Director of BioVie Inc. (Nasdaq). Serves on SPKL’s Audit Committee and is designated an SEC “audit committee financial expert.”
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Samsung Group | President, Global Strategy Group | Feb 2015 – Feb 2021 | Senior corporate strategy leadership |
| Merck & Co., Inc. | Chief Strategy Officer | Not disclosed | Corporate strategy leadership |
| Tyco Electronics | Chief Strategy Officer | Not disclosed | Corporate strategy leadership |
| Lenovo | Chief Strategy Officer | Not disclosed | Corporate strategy leadership |
| McKinsey & Company | Director and Senior Partner | 17 years (dates not disclosed) | Healthcare, high tech, and corporate finance practices |
External Roles
| Organization | Role | Public/Private | Notes |
|---|---|---|---|
| BioVie Inc. | President, CEO and Director | Public (Nasdaq) | Clinical-stage biotech; Mr. Do currently serves as President, CEO and Director |
Board Governance
| Item | Detail |
|---|---|
| Independence status | Independent director under Nasdaq standards |
| Board class/term | Class I director; term to 2027 annual meeting |
| Committee memberships | Audit Committee member |
| Committee chair roles | Not chair; Audit Committee chaired by Willy Lan |
| Financial expertise | Designated “audit committee financial expert” (SEC definition) |
| Years of service | On SPKL’s board since December 2021 |
Fixed Compensation
| Year | Component | Amount |
|---|---|---|
| 2024 | Paid consulting fees (director/board services agreements) | $75,000 |
Company disclosure states no employment agreements for officers, no long‑term compensation plans, and no stock option plans.
Performance Compensation
| Component/Metric | Disclosed Terms |
|---|---|
| Long‑term incentive plan (RSUs/PSUs) | None disclosed; company states no long‑term compensation plans |
| Stock options | None disclosed; no stock option plans |
| Performance metrics (revenue, EBITDA, TSR, ESG, etc.) | Not disclosed/applicable |
| Clawback/COC/severance | Not disclosed for directors in cited filings |
Other Directorships & Interlocks
| Company | Role | Committee Roles | Notes / Potential Interlocks |
|---|---|---|---|
| BioVie Inc. | Director (also President & CEO) | Not disclosed | Concurrent fiduciary duties; SPKL discloses directors may have fiduciary/contractual duties to other entities, which can create allocation conflicts for business combination opportunities |
Expertise & Qualifications
- Corporate strategy executive across healthcare, high tech, and corporate finance; former McKinsey senior partner (17 years) .
- Public company CEO (BioVie) and director experience; biotechnology domain exposure .
- Financial oversight: SPKL Audit Committee member; SEC “audit committee financial expert” .
Equity Ownership
| Metric | Oct 8, 2024 | Mar 17, 2025 |
|---|---|---|
| Class B shares beneficially owned | 100,000 | 100,000 |
| % of Class B shares | 1.6% | 1.6% |
| % of total outstanding ordinary shares | <1% (denoted “*”) | <1% (denoted “*”) |
Context: Sponsor transferred a total of 850,000 Class B founder shares to officers and directors on April 1, 2022; these 850,000 are not subject to forfeiture if the forward purchaser reduces/terminates its commitment (other founder shares have separate forfeiture contingencies).
Governance Assessment
- Strengths
- Independent director with deep strategy background and public‑company CEO experience; adds sector and operating insight.
- Audit Committee member and SEC “financial expert” enhances financial reporting oversight.
- Alignment and incentives
- Holds 100,000 Class B founder shares; modest direct equity exposure can align interests, though founder shares differ economically from public Class A.
- Receives $75,000 consulting/board service fees (2024); no performance‑based equity or option plans disclosed, so director pay is primarily fixed cash.
- Conflict considerations and red flags to monitor
- Multiple fiduciary/contractual duties (notably BioVie) can divert suitable business combination opportunities away from SPKL pursuant to fiduciary obligations; SPKL renounces certain corporate opportunities except when offered solely in the SPKL capacity.
- SPAC‑specific incentives: sponsor/founder economics and private warrants (held by sponsor) can create pressure to consummate a deal before the deadline, a risk factor SPKL explicitly discloses as potentially influencing officers’ and directors’ motivations. Deadline for business combination was July 11, 2025 (subject to extension proposals); private warrants expire worthless if no deal.
- Disclosures not found
- Meeting attendance rates, director stock ownership guidelines, pledging/hedging policies for individual directors, and detailed director fee breakdowns (retainer vs committee/chair fees) were not disclosed in the cited filings.