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Tag: mangement

  • Bonjour CEO exits, replacement known yet

    Bonjour CEO exits, replacement known yet

    Bonjour CEO Cheung Ka Fai has resigned after less than two months in the role, citing “personal career development”. He has been replaced by Wong Iu Ming.

    In a statement to the stock exchange, the struggling apparel chain confirmed there was “no disagreement with the board” or other matter relating to the resignation that should be brought to the attention of shareholders.

    In May, the husband-and-wife founders of the beauty-products retailer, Dr Wilson Ip Chun Heng and Chung Pui Wan, stepped down from their roles as chairman and CEO, and vice-chairman, respectively. Cheung stepped up from CFO to CEO.

    Ming, 65, is currently executive director and deputy CEO of Haifu International Finance Holding Group and holds directorships of Global Leather Intelligence, China Leather Intelligence, Innogy Global, Haifu China Petrochemical Group. He is a past GM of the Internal Audit of Urban Renewal Authority.

    He also has experience in risk controls, finance and administration, and the internal audit of both large Hong Kong public bodies and multinational conglomerates.

    Previous Bonjour CEO Cheung, 45, has been with Bonjour since August 2012 and has more than 20 years’ experience in audit, finance, and business advisory.

    In March, Bonjour Holdings reported a sales decrease of 18.7 percent for the 2019 fiscal year, following a 7.3-per-cent decline in 2018. The company’s annual loss attributable to shareholders ballooned from US$5.1 million in 2018 to $16.7 million last year.

  • BMW CEO Harald Krueger To Step Down From Board

    BMW CEO Harald Krueger To Step Down From Board

    The Chairman of the Board of Management of BMW AG, Harald Kruger, gave notice that he will not seek a second term of office. The Supervisory Board will address the matter of a successor during its next meeting on 18 July 2019. Until a decision has been made, Harald Kruger will hold his position as Chairman of the Board of Management. Harald Kruger assumed the position of Chairman of the Board of Management of BMW AG from Dr Norbert Reithofer on 13 May 2015.

    Under his leadership, the company put forward its new strategy which enabled the BMW Group to actively shape the transformation of the industry and the transition towards sustainable mobility of the future. With the largest model roll-out in the company’s history, vehicle deliveries reached new all-time highs, while at the same time the company systematically expanded its electromobility strategy. By 2023, the BMW Group will have 25 electrified models on the roads.

    As Chairman, Kruger further strengthened the significance of strategic partnerships – particularly in the area of breakthrough technologies such as highly automated driving. Additionally, the BMW Group has successfully merged its mobility services under a new entity. Moreover, the BMW Group significantly increased its role as a global player and, as the first international company, will be able to increase its share in its Chinese Joint Venture, BMW Brilliance Automotive, to 75%.

    Kruger said, “The BMW Group has been my professional home for more than 27 years. After more than ten years in the Board of Management, more than four of which as the CEO of the BMW Group, I would like to pursue new professional endeavours and leverage my diverse international experience for new projects and ventures. Over the last years, the automotive industry has been shaped by enormous changes, which have brought about more transformation than in the previous 30 years. This has demanded tremendous efforts from every employee within the company. For their outstanding commitment, I would like to personally thank each and every one of them. It has always been a true honour for me to work with this tremendous team and to set the BMW Group on a path towards a successful future during the most significant transformation of this industry.”

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  • Courts Announces Group CEO Terry O’Connor’s Transition To Executive Advisor

    Courts Announces Group CEO Terry O’Connor’s Transition To Executive Advisor

    COURTS Asia Limited today announced that Terry O’Connor, Group CEO, will transition into an Executive Advisor role with effect from 1 July 2019 and has resigned from the Board. With the acquisition of COURTS Asia Limited by Nojima Corporation now completed, Terry expressed his desire to relinquish operational responsibilities and support the Group in an advisory capacity. As Executive Advisor, Terry will provide oversight on stakeholder relationship management and the ongoing integration process to the Company.

    Under Terry’s 20 years of leadership, COURTS has undertaken a strategic transformation journey towards solutions selling, omni-channel retailing, driving market leadership in electrical, IT and furniture categories, transforming offline stores into experience centres for consumers as well as expanded into Malaysia and Indonesia.

    Terry O’Connor said, “I am privileged to have led a wonderful team at COURTS in Singapore, then Asia, through a period of transformation and growth. We have achieved many milestones together and I feel extremely proud of leading such a talented team. Having facilitated the ownership change for COURTS from COURTS Plc in 2004 to private equity owners and now to Nojima Corporation, a long-term strategic investor, it is an opportune time for me to transition into a different role with the Company.”

    The COURTS Asia Board expressed their utmost gratitude to Terry for building COURTS into a leading household name and his support in the integration process. The Group is in advanced stages of the hiring process for a new Group CEO.

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