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Tag: Chairman

  • Jack Ma steps down from Alibaba divisions

    Jack Ma steps down from Alibaba divisions

    Alibaba founder Jack Ma has stepped back from active roles in five subsidiary companies as he prepares to hand over executive chairmanship of the company in September.

    Management of Alibaba say the moves were intended to improve the firm’s governance and administrative transparency.

    Ma has exited Alibaba’s Technology, Education Technology, Taobao Software, Network Technology, and Software departments.

    Stepping away from the business divisions was signalled before Ma announced last September his intention to resign as executive chairman and officials say the latest move is normal industry practice.

    One commentator described the step as “goodwill” and encouraging transparency when he is no longer active in Alibaba on a day to day basis.

    In an interview last September, which Ma owns, he said relinquishing the executive chairmanship was “not about retiring, stepping away, or backing off”. “This is a systematic plan,” he said.

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  • China Telecom chief moves to China Mobile

    China Telecom chief moves to China Mobile

    China Telecom announced that Yang Jie (pictured) has resigned from his role as chairman of parent company China Telecom Corporation, and has been re-designated as chairman of China Mobile Communications Group.

    Yang has also resigned from his positions as executive director, chairman and CEO of Hong Kong-listed China Telecom Limited, due to the change in work arrangement, according to a company announcement released last week [pdf].

    He replaces Shang Bing, who is stepping down as chairman of China Mobile upon reaching retirement age.

    Shang, a former vice minister of the telecom watchdog, the Ministry of Industry and Information Technology (MIIT), was appointed the chairman of China Mobile in September 2015 when the Beijing government reshuffled the heads of the country’s three state-owned telecom carriers.

    In a statement, China Mobile acknowledged Shang’s outstanding contributions to the company with “the highest regard and deepest gratitude”.

    The changes take effect on March 4, 2019.

    Yang was chairman and CEO of China Telecom since May 2016 and previously served as the company’s president and COO. China Telecom hasn’t yet made any announcement on Yang’s replacement at the company.

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  • J.Crew Chairman Mickey Drexler Steps Down

    J.Crew Chairman Mickey Drexler Steps Down

    J.Crew chairman and former-chief executive Millard “Mickey” Drexler has stepped down from his position to focus on other interests, including the development of investment business Dexler Ventures, LLC. Chad Leat has been elected as chairman effective immediately. Drexler is set to continue to serve as a strategic advisor to the company’s board and CEO.

    Drexler said it had been a privilege to spend 15 years with the business, and he was thankful to have been a part of its evolution throughout the years.

    “I look forward to working with the Office of the CEO and the board as a strategic advisor to help support J.Crew’s long term success,” Drexler said in an announcement to investors.

    Leat is a former vice-chairman of global banking at Citigroup and holds nearly three decades of markets and banking experience, having led numerous successful and profitable businesses at Citigroup.

    “I am honored to serve has the next chairman of J.Crew,” Leat said.

    “As chairman, my priorities will be to ensure that the J.Crew brand moves quickly to capitalise on recent momentum and to support Madewell’s growth towards becoming a one billion dollar brand, while also working with the board to identify strong, permanent leadership to guide the Company in its next chapter.”

    Drexler’s departure follows the exit of chief executive James Brett and chief marketing officer Vanessa Holden in November 2018. Brett had been in the position for 16 months, while Holden had been with J.Crew for one year.Adtech Ad

    Brett’s exit left the brand leaderless at a pivotal moment, according to GlobalRetail Data managing director Neil Saunders, who noted that the suddenness of the exit suggested a disagreement over how to develop the brand moving forward, and that the brand’s management had been an issue since before

    “If the departure of Jim Brett hails the return to these unrealistic attitudes, J.Crew is going to slip back and undo all of the progress made to date. Given the precariousness of its financial position, this is a mistake it cannot afford to make,” Saunders said.

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  • E-Land’s owners step down from management

    E-Land’s owners step down from management

    Owner family members of fashion conglomerate E-Land Group stepped down from management on Thursday, handing over the helm to younger executives internally promoted to leadership roles. The move comes in an effort to rejuvenate its governance structure to strengthen the role of the board of directors of each affiliate and enhance their autonomy when it comes to making business decisions.

    Founder Park Sung-su, 65, will step down from the day-to-day management of the group while remaining chairman. He will focus on nurturing next-generation leaders and developing new businesses instead of being directly involved in the management of subsidiaries.

    “In the past, our chairman made a lot of important decisions across the group, but since late 2016, we’ve been making preparations to give more autonomy to affiliates and develop their capacity to make business decisions on their own,” said an E-Land spokesman.

    Park’s younger sister Park Sung-kyung, 62, also stepped down from her position as vice chairwoman of the group. Having worked at E-Land for more than 12 years, Park has led the group when it comes to external affairs in the last few years. She also managed E-Land’s global operations, including in China.

    Stepping aside from management, Park Sung-kyung will chair the board of directors of the E-Land Welfare Foundation, which pursues charity activities inside the group.

    To fill the void, two vice chairmen were appointed. Former E-Land Retail CEO Choi Jong-rang has been promoted to vice chairman of the retail subsidiary, which operates NewCore department stores as well as popular shoe brand Shoopen. Kim Il-kyu has also been newly appointed as vice chairman of E-Land World, which manages the group’s key clothing brands.

    E-Land also promoted a handful of top executives in their 30s and 40s to head up their respective business divisions.

    Choi Wan-sik was promoted to CEO of E-Land World’s fashion division. Choi previously gained recognition for his performance as the director of Spao.

    At E-Land Park, which manages the group’s resorts and restaurant chains, 35-year-old Kim Wan-sik took over the reins as the subsidiary’s head of restaurants, which includes buffet franchises Ashley and Pizza Mall.

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  • Voon Seng Chuan is new AmBank Malaysia chairman

    Voon Seng Chuan is new AmBank Malaysia chairman

    AMMB Holdings Bhd has appointed Voon Seng Chuan (pic) as the new chairman of AmBank (M) Bhd with effect from Jan 1, 2019. “Voon, a Malaysian, aged 60, has been a member of the board of directors of AmBank since June 18, 2015. He is also a member of the board of directors of AMMB,” AMMB said in a stock exchange filing on its directorship/chairmanship transition plan.

    Voon replaces Tan Sri Azman Hashim, 79, who will be retiring from six entities in the AmBank group in stages over a two-year period announced last year.

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  • Prosecutors drop charges against Samsung chairman

    Prosecutors drop charges against Samsung chairman

    Prosecutors dropped tax evasion and embezzlement charges against Samsung Group Chairman Lee Kun-hee on Thursday. The decision was based on the judgment that further investigation into the case was impossible due to Lee’s health issues. The investigation may resume if Lee recovers, but the possibility is slim. Lee has been hospitalized for more than four years now since a fall in May 2014.

    Lee was accused of avoiding taxes worth 8.5 billion won ($7.6 million) that involved multiple bank accounts under the names of Samsung executives. More than 1,700 accounts were found to have been used for this purpose since 2008, when the investigation started.

    Another charge against the chairman was the embezzlement of 3.3 billion won from Samsung C&T, which was used to pay for the interior renovation of Lee’s private home.

    The Seoul Central District Prosecutors’ Office, however, did decide to indict four Samsung executives who played a role in the two cases – one for the tax evasion scheme and three for the embezzlement case.

  • Sunil Bharti Mittal named GSMA chairman

    Sunil Bharti Mittal named GSMA chairman

    Sunil Bharti Mittal (pictured), founder and chairman of India’s Bharti Enterprises, has been named as GSMA chairman from January 2017 to December 2018.

    Mittal, the first Indian to be elected as chair of GSMA, will oversee the strategic direction of the organization, which represents nearly 800 of the world’s mobile operators, as well as more than 300 companies in the broader mobile ecosystem.

    Mittal will succeed Jon Fredrik Baksaas, who will step down from the board at the end of 2016, after holding this position for the past three years. He was elected as a member of the GSMA board in 2008.

    “I am delighted to be elected as chairman of the GSMA, and look forward to working closely with the rest of the board, the GSMA leadership team and our entire membership to address the critical issues facing our industry and our customers,” said Mittal.

    “I am excited about what the next chapter holds for us, as we work to connect everyone and everything to a better future. In my new global role, I am also excited to support the ongoing mobile broadband revolution in India to boost the Government’s Digital India Program and its vision of broadband access for all.”

    The GSMA has also elected the new members of the board and re-elected Mari-Noëlle Jego-Laveissiere, executive vice president, Innovation, Orange Group as a deputy chair for a two-year period.

     

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  • Carl Cruz assumes duties as Chairman of Unilever Sri Lanka

    Carl Cruz assumes duties as Chairman of Unilever Sri Lanka

    With effect from March 1, 2016, Carl Cruz assumed duties as Chairman of Unilever Sri Lanka, taking the helm from his predecessor, Shazia Syed who has returned to Pakistan to assume her duties as the Chief Executive Officer of Unilever Pakistan.

    Carl arrived in Sri Lanka from the Philippines, where he last served as the Vice President of Customer Development for Unilever Philippines. Under his leadership, the function was transformed into an execution and talent powerhouse for the business, while simultaneously achieving sustainable double digit growth.

    Joining Unilever immediately after graduating from university in 1992, Carl began his career in General Trade before eventually becoming the company’s first General Trade Development Manager. In 1999 as the Sales Development and Trade Marketing Manager, he setup Unilever’s Category Management and Retail Solutions capability which was critical in attaining thought leadership in the Philippines Retail Trade Industry. In his 24 years with the organization Carl has gained an extensive breadth and depth of experience in Customer Development and Marketing in the Philippines, Thailand and India.

    Speaking about the business he has inherited, Cruz said, “Sri Lanka is an important market for us and these are exciting times for the country. Over the last two years, the Unilever Sri Lanka teamhas worked diligently to ensure the growth of the business and delivered exceptional results. We have the right mindset and ambition to capitalize on the current situation. I look forward to energizing our team, building on the gains we have made and bringing to life our vision of improving the lives of Sri Lankan consumers.”

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