Retail News CRM

Tag: role

  • Vicca Ng Steps into COO Role at Hextar Retail: Driving Expansion and Strategic Partnerships

    Vicca Ng Steps into COO Role at Hextar Retail: Driving Expansion and Strategic Partnerships

    Vicca Ng has been appointed as the Chief Operating Officer (COO) of Hextar Retail, a Malaysian retail conglomerate. Ng’s new role takes effect immediately and she will continue to supervise the group’s retail operations, in addition to serving as an executive director.

    Vicca Ng’s Role in Hextar Retail

    Ng has been instrumental in the expansion of Hextar Retail. She has successfully managed the brand’s growth, fostered strategic partnerships, and developed retail operations across a growing portfolio. Her background encompasses business expansion, retail operations, and commercial development. In her new role as COO and Executive Director, Hextar Retail looks forward to Ng’s continued leadership as the company evolves and expands.

    Hextar Retail, initially established in 1988 as Classic Scenic Berhad, was rebranded in 2024. The company is a subsidiary of the larger Malaysian conglomerate, the Hextar Group. The Hextar Retail portfolio covers a range of sectors, including lifestyle, apparel, food and beverage, as well as convenience retail sectors.

    Questions & Answers

    What is the new role of Vicca Ng in Hextar Retail?
    Vicca Ng has been appointed as the Chief Operating Officer and will function as an Executive Director. She will supervise the group’s retail operations.

    What role has Vicca Ng played in the expansion of Hextar Retail?
    Ng has been instrumental in the company’s expansion, overseeing brand growth, fostering strategic partnerships, and developing retail operations across the growing portfolio.

    What sectors does Hextar Retail’s portfolio cover?
    Hextar Retail’s portfolio spans a wide range of sectors, including lifestyle, apparel, food and beverage, and convenience retail sectors.

  • Singapore Boosts Gold Market Role: Invites Foreign Central Banks for Secure Gold Storage Services

    Singapore Boosts Gold Market Role: Invites Foreign Central Banks for Secure Gold Storage Services

    Beginning in October, Singapore will permit foreign central banks and sovereign entities to store their gold reserves within its borders. This move is aimed at reinforcing Singapore’s standing as a regional hub for gold trading and storage. The city-state’s commercial vaulting capacity currently surpasses 2,000 tonnes. This capacity is utilized by a diverse array of market participants including bullion banks, institutional investors, and high-net-worth individuals, as expressed by Deputy Prime Minister Gan Kim Yong on a recent Monday forum.

    Strengthening the Gold Market

    In addition to providing secure storage, Singapore will cater to foreign central banks and sovereign entities desiring to actively manage their gold holdings. The Monetary Authority of Singapore plans to offer gold accounts to a select group of bullion banks based in Singapore. This initiative will enhance their capability to deliver gold-related services and liquidity to these entities.

    Deputy Prime Minister Yong believes that this move will enhance Singapore’s reputation as a safe and reliable jurisdiction where reserve assets can be securely held and actively managed. The city-state will also be able to connect these assets to wider market liquidity during Asian trading hours, further reinforcing its regional dominance.

    Gold Market Innovations

    Several innovative measures have also been announced to strengthen Singapore’s role in the global gold market. One significant measure includes the establishment of an over-the-counter gold clearing system by the Singapore Exchange by the end of 2026. Interbank trading is anticipated to grow from 2027 onwards.

    This revolutionary system aims to enhance trade processing, boost transparency, and support more efficient clearing and settlement. According to Yong, this will instill greater confidence in market participants to transact in Singapore. The new system will accommodate both large bars and kilobars, enabling standardized settlement during Asian trading hours.

    Large bars refer to 400-troy-ounce gold bars or approximately 12.4 kilograms, which are standard for institutional trading and settlement in London. Kilobars, on the other hand, are 1-kilogram bars that are popular in Asian markets and are accepted for delivery in Comex gold futures contracts in the U.S.

    DBS, Deutsche Bank, ICBC Standard Bank, JPMorgan, OCBC, and UOB have been reported as the six banks that will join as clearing members and contribute to the development of Singapore’s gold market.

    Questions & Answers

    What will Singapore allow from October?
    Starting from October, Singapore will allow foreign central banks and sovereign entities to store their gold reserves in the country.

    What benefits will the proposed gold clearing system bring to Singapore’s gold market?
    The proposed over-the-counter gold clearing system will streamline trade processing, enhance transparency, and support more efficient clearing and settlement, thereby bolstering market participant confidence to transact in Singapore.

    Which banks will be joining as clearing members to develop Singapore’s gold market?
    DBS, Deutsche Bank, ICBC Standard Bank, JPMorgan, OCBC, and UOB are set to join as clearing members to help develop Singapore’s gold market.

  • Shinsegae Chairman Elevates to CEO Role, Spearheading Growth for E-Mart & Property Division

    Shinsegae Chairman Elevates to CEO Role, Spearheading Growth for E-Mart & Property Division

    Shinsegae Group’s chairman, Chung Yong-jin, is set to expand his role within the organization, assuming CEO positions at both E-mart and Shinsegae Property. This move by the South Korean retail heavyweight signals an aggressive push for growth in its primary sectors.

    Shifting Responsibility and Strategy

    Chung’s dual appointment marks a significant shift within the group, with the chairman now directly overseeing the operations of the nation’s largest retailer and its property development subsidiary. This decision comes at a crucial time when the company, faced with a challenging retail environment, is actively seeking new avenues for expansion. The decision underscores Chung’s resolve to shoulder a larger part of the company’s overall direction and performance.

    Chung appreciates the market’s expectations for clear accountability in the company’s management. As the newly appointed CEO, he is prepared to submit to the evaluation of the board of directors and shareholders.

    In his capacity at E-Mart, Chung will directly oversee the retailer’s operations and future growth strategies. The company believes this change mirrors his dedication to tackling current business hurdles and boosting shareholder value.

    Leadership Changes and Future Plans

    In his role at Shinsegae Property, Chung will supervise the group’s major development projects and support plans to secure locations for a proposed AI data centre that was announced earlier this year.

    This management shakeup follows a recent controversy at Starbucks Korea, where E-Mart is the majority shareholder. Since this incident, the retailer has committed to organizational reforms to bolster governance and operational supervision.

    Shinsegae Property executive Lee Hyung-cheon has been named as co-CEO and will continue to oversee the company’s regular operations and development activities. Shin Dong-woo has been nominated as the new CEO for Starbucks Korea. Shinsegae has stated that he will focus on reinforcing internal controls, enhancing operational systems, and restoring trust among clients and partners.

    Questions & Answers

    What new roles is Chung Yong-jin assuming at Shinsegae Group?
    Chung Yong-jin is taking on the dual roles of CEO at both E-mart and Shinsegae Property.

    What implications does this dual appointment have for the company?
    This move signals a significant shift in Shinsegae Group’s strategy, with Chung Yong-jin assuming more responsibility for the company’s overall performance and direction. It also demonstrates a commitment to tackling current business challenges and enhancing shareholder value.

    How will the roles be distributed among the leadership after these changes?
    Chung Yong-jin will oversee operations and future growth strategies at E-Mart and major development projects at Shinsegae Property. Lee Hyung-cheon will continue to oversee day-to-day operations and development activities at Shinsegae Property as co-CEO. Shin Dong-woo will focus on internal controls, operational systems and regaining trust as the CEO of Starbucks Korea.

  • Dua Lipa Brews up New Role as Nespresso Global Brand Ambassador to Ignite Youth Appeal

    Dua Lipa Brews up New Role as Nespresso Global Brand Ambassador to Ignite Youth Appeal

    Nespresso has recently announced that pop singer Dua Lipa will become its global brand ambassador in a bid to enhance its resonance with a younger, culturally engaged audience.

    As part of this collaboration, Dua Lipa is set to headline the Vertuo World campaign, which commences on April 14. The campaign will also feature a guest appearance by long-serving Nespresso ambassador George Clooney, linking the brand’s storied history with its modern marketing strategies.

    Leonardo Aizpuru, Nespresso’s chief marketing officer, expressed excitement about the partnership with Dua Lipa. He described the singer as an adventurer always eager to try new things – an ethos that is in perfect alignment with Nespresso’s brand direction.

    According to Aizpuru, the collaboration with Dua Lipa aims to inspire a new generation to confidently explore and appreciate new tastes. He emphasized that Nespresso’s core mission is to enable boundless exploration through exceptional coffee and that Dua Lipa embodies this mindset in a contemporary and seamless manner.

    This partnership marks a significant strategic move for Nespresso, which is facing mounting competition from both retail-ready and specialty coffee brands in the premium coffee market.

    By partnering with a global pop icon known for her trendsetting influence, Nespresso aims to appeal to a demographic that places equal importance on lifestyle and cultural relevance as well as product quality.

    In 2021, Nespresso demonstrated its commitment to retail expansion by unveiling a flagship boutique in Manhattan’s Flatiron District. This store is the largest and most immersive retail location that the company has opened to date.

    Questions & Answers

    Who has Nespresso appointed as its new global brand ambassador?
    Pop superstar Dua Lipa has been appointed as the new global brand ambassador for Nespresso.

    What is the primary objective of Nespresso’s partnership with Dua Lipa?
    The key goal of this collaboration is to enhance Nespresso’s appeal among younger, culturally engaged consumers and inspire them to explore and appreciate new coffee tastes confidently.

    What strategic shift does this partnership signal for Nespresso?
    Partnering with a global pop icon like Dua Lipa marks a significant strategic shift for Nespresso as it seeks to appeal to a demographic that values cultural relevance and lifestyle as much as product quality.

  • Cathy Sparks Ascends to Nike’s VP and GM Role in Greater China: A New Era of Athletic Partnerships

    Cathy Sparks Ascends to Nike’s VP and GM Role in Greater China: A New Era of Athletic Partnerships

    Nike has recently made several key changes to its top-tier executives across various geographical territories. Cathy Spark has been promoted to the position of Vice President (VP) and General Manager (GM) of Greater China.

    Replacing Angela Dong, a seasoned Nike executive since 2005 who served in a variety of senior-level positions throughout the region, Spark plans to solidify collaborations and reaffirm Nike’s long-standing dominance in the Chinese market.

    Spark’s journey with Nike spans a quarter-century, initially starting as a store athlete at Niketown in Portland. Over the years, she assumed leadership roles across all geographical areas. Prior to her current position, she served as VP and GM of APLA, where she spearheaded the company’s strategy for marketplace transformation and consumer growth.

    Elliot Hill, Nike’s President and CEO, praised Spark for her ability to connect athletics, consumers, and Nike’s role at the crossroads between sports and culture. He highlighted her ability to build high-performing teams, act decisively, and effectively harness the unique appeal of the Nike brand.

    Cristin “Crissy” Campbell, a Nike employee with 15 years of experience, is slated to fill Spark’s former position as VP and GM of APLA.

    In the EMEA region, Carl Grebert will relinquish his duties as VP and GM. César Garcia will take over the role, with his tenure starting on February 2nd.

    Questions & Answers

    Who is the new VP and GM of Greater China for Nike?
    Cathy Spark has been appointed as the new Vice President and General Manager of Greater China for Nike.

    What role did Cathy Spark previously hold at Nike?
    Before her promotion, Cathy Spark was the Vice President and General Manager of APLA, leading the company’s strategy in marketplace transformation and consumer growth.

    Who will succeed Cathy Spark as VP and GM of APLA?
    Cristin “Crissy” Campbell, a 15-year veteran at Nike, will take over as the Vice President and General Manager of APLA.

  • Yirong Wee Ascends to CEO Role at PROPEL: Singlife’s One-Stop Service Center Celebrates Year of Success

    Yirong Wee Ascends to CEO Role at PROPEL: Singlife’s One-Stop Service Center Celebrates Year of Success

    Insurer Singlife’s comprehensive shared service center, PROPEL, has announced a change in leadership one year after its inception. Yirong Wee has assumed the role of chief executive officer (CEO), succeeding Steven Ong, who will spearhead a new business venture within Singlife, starting 2026.

    A Wealth of Experience

    Yirong Wee brings to the table an impressive 18-year track record in financial services, operations, and distribution strategy. Prior to her appointment as CEO, Wee held the position of chief operating officer (COO) of group distribution at Singlife. Her experience also extends to her role as COO at GROW with Singlife, an integrated investment solutions platform for financial advisor representatives.

    About PROPEL

    PROPEL is an all-inclusive shared service center designed for financial advisory firms under the Singlife group. Since its inauguration in January 2025, it has successfully recruited over 1,300 financial advisor representatives.

    Questions & Answers

    What is the function of PROPEL?
    PROPEL is a comprehensive shared service center for financial advisory firms under the Singlife group.

    Who is the new CEO of PROPEL?
    Yirong Wee has been appointed as the new CEO of PROPEL.

    What will the ex-CEO of PROPEL, Steven Ong, be doing in the future?
    Steven Ong will be leading a new business initiative within Singlife from 2026.

  • DBS Makes History as First Singapore Bank to Secure RMB Clearing Role: Revolutionizing Regional Capital Flows and Currency Exposure Diversification

    DBS Makes History as First Singapore Bank to Secure RMB Clearing Role: Revolutionizing Regional Capital Flows and Currency Exposure Diversification

    DBS Bank has become the first Singaporean financial institution to be appointed by the People’s Bank of China as an RMB clearing bank. This significant development bolsters Singapore’s role in offshore renminbi infrastructure and heightens DBS’ strategic position in regional capital flows. The announcement came during the Singapore-China Joint Council for Bilateral Cooperation meeting held in Chongqing.

    A Leap in Currency Diversification

    This appointment comes at a time when corporations and investors are increasingly diversifying their currency exposure to build resilience amid geopolitical uncertainties and rate fluctuations. DBS’ new status as a clearing bank provides it with direct access to onshore RMB liquidity, facilitating more efficient settlements and expanding the cross-border usage of the currency in trade, investment, and treasury activities.

    Enhanced Onshore-Offshore RMB Provision

    Now that DBS has direct access to China’s onshore RMB pools, the bank can provide a more comprehensive RMB package that includes payments, liquidity management, and access to RMB-denominated instruments across both onshore and offshore markets. Leveraging Singapore’s standing as a global foreign exchange hub, the bank plans to improve liquidity access, increase settlement options, and provide better capital and risk management flexibility for its clients.

    OTC Bond Market Approval Expands Investor Reach

    Simultaneously, DBS has been authorized to operate in China’s onshore over-the-counter bond market – a move that allows the bank to streamline access for foreign investors while enhancing trading efficiency within China’s domestic bond market. These recent approvals have further cemented DBS’ active participation in China’s cross-border financial infrastructure.

    From Panda Bonds to International Investor Channels

    DBS has an established presence in China’s Panda Bond market as a leading foreign underwriter, aiding international issuers in their quest for RMB funding. The bank also enables offshore participation in onshore RMB assets via channels such as Bond Connect, interbank bond market settlement agency services, and QFII-RQFII programs, thereby contributing to the gradual integration of China’s capital markets into the global financial system.

    Implications for Issuers and Investors

    Lim Soon Chong, the Group Head of Global Transaction Services at DBS, stated that the appointment allows DBS to offer deeper liquidity and enhanced settlement capabilities to a variety of clients, including corporations, investors, and respondent banks. Andrew Ng, Group Head of Global Financial Markets at DBS, echoed these sentiments, stating that this development will create a more seamless connection between on- and offshore RMB markets, facilitating greater market access for issuers and investors and enabling them to exploit RMB opportunities with increased confidence and agility.

    Questions & Answers

    What significance does DBS’ appointment as an RMB clearing bank hold?
    This appointment enhances Singapore’s role in offshore Renminbi infrastructure and strengthens DBS’ strategic position within regional capital flows.

    How does DBS’ new status as a clearing bank benefit its clients?
    Being a clearing bank gives DBS direct access to onshore RMB liquidity, enabling more efficient settlements and broadening the cross-border use of the currency in trade, investment, and treasury activities.

    What does DBS’ approval to operate in China’s onshore OTC bond market imply?
    This approval allows DBS to facilitate onshore bond trading while offering custody services offshore, streamlining foreign investor access and improving trading efficiency within China’s domestic bond market.

  • Asia Pacific Bolsters Global Trade Resilience Amid Policy Fluctuations: DHL Tracker Reveals

    Asia Pacific Bolsters Global Trade Resilience Amid Policy Fluctuations: DHL Tracker Reveals

    The Asia Pacific region is becoming an increasingly significant catalyst in bolstering worldwide trade resilience, despite international commerce encountering numerous challenges due to policy fluctuations. This finding is part of a recent update to the DHL Global Connectedness Tracker, produced in collaboration with New York University’s Stern School of Business. This update is the first systematic evaluation of the responses of international trade and business investment to alterations in U.S. trade policy during the second term of President Trump.

    Asia Pacific’s Strategic Adaptability

    According to Ken Lee, DHL Express’s CEO for Asia Pacific, the region has exhibited unique adaptability and strategic positioning. “The latest data illustrates how cooperation within the region is intensifying, even amidst global uncertainty,” said Lee. He pointed out that businesses in the Asia Pacific are demonstrating agility and a forward-thinking attitude, from the ASEAN’s growing role in accommodating trade flows to Asia Pacific countries engaging more intensively with neighboring nations. Lee emphasised that DHL is well-placed to assist its customers in navigating any changes in trade patterns and pledged to continue developing capabilities in customer-preferred locations.

    Global Trade Growth Amidst Tariff Uncertainty

    In the first half of 2025, the DHL Global Connectedness Tracker indicated that international trade grew at an unprecedented pace, unmatched by any previous half-year since 2010, barring the pandemic recovery. There was a significant surge in U.S. imports early in 2025 as purchasers hastened to make purchases before the impending tariff increases. After this initial rush, global trade volumes continued to exceed the levels of the previous year.

    On examining the world’s 100 largest trade routes, six out of the ten fastest-growing were exports from an Asian economy, emphasising Asia’s integral role in propelling global trade. Notably, Hong Kong SAR, Thailand, Malaysia, and Vietnam were among the top 10 fastest-growing markets, underlining Asia Pacific’s increasing influence and durability in supply chain networks.

    Rise of Intra-Asia Trade

    Intra-Asia trade demonstrated ongoing integration and burgeoning connections. The intra-regional trade share of East Asia & Pacific rose from 55% to 56%. Furthermore, the greatest reductions in trade distances were observed in countries including Thailand, China, Singapore, and Hong Kong SAR. These shifts represent Asian economies’ redirection of trade flows towards regional partners to sustain growth and their efforts to boost infrastructure and connectivity, thereby enhancing the attractiveness of participating in cross-border trade.

    ASEAN’s Growing Role in Chinese Exports

    Despite a 15% decrease in exports to the U.S. during the first eight months of 2025, China fully balanced this loss with a 15% rise in exports to the ASEAN region. ASEAN emerged as a significant growth destination for Chinese exports, signifying the region’s increasing relevance in China’s trade portfolio. Vietnam, Thailand, and India witnessed the most substantial increases in their share of China’s exports, while the U.S., Russia, Korea, Brazil, and Mexico experienced decreases.

    Reflecting on the latest trends, Prof. Steven A. Altman, Director of the DHL Initiative on Globalization at NYU Stern’s Centre for the Future of Management, stated, “The trends in trade and international business investment thus far in 2025 do not substantiate the belief that globalisation is in regression.” He noted that despite existing policy threats to globalisation, companies are not generally retreating from international markets. Instead, they are managing risks and opportunities in a connected world.

    Questions & Answers

    What factors have contributed to the Asia Pacific region’s role in driving global trade resilience?
    Adaptability, strategic positioning, and increased collaboration among countries in the region have played major roles in solidifying the Asia Pacific’s position in global trade.

    How has the ASEAN region become a crucial aspect of China’s export strategy?
    Despite a drop in exports to the U.S., China has compensated by increasing exports to the ASEAN region by 15%. This shift highlights the growing importance of ASEAN in China’s trade portfolio.

    What trends in global trade have been observed during 2025?
    Despite policy shocks and tariff turbulence, global trade has grown significantly. Asian economies, in particular, have demonstrated resilience by adjusting trade flows towards regional partners and enhancing infrastructure and connectivity.

  • Singapore Strengthens Europe-asia Link, Promotes Sustainability & Innovation At Inaugural Conference

    Singapore Strengthens Europe-asia Link, Promotes Sustainability & Innovation At Inaugural Conference

    Singapore, during the maiden “Europe Conference 2025”, solidified its position as a reliable conduit connecting Europe and Asia, fostering sustainability, innovation, and enduring collaboration across the continents. The Singapore Business Federation (SBF) and the European Chamber of Commerce Singapore (EuroCham) co-hosted this event, which served as a tribute to six decades of robust relations between Europe and Singapore. The event, held on October 14, 2025, garnered participation from more than 300 individuals across seven nations, underlining the profound engagement between the two regions.

    Future Anchored in Sustainability and Innovation

    The conference, underpinned by the theme of “Sustainability & Innovation”, brought together industry pioneers, policymakers, and innovators to delineate strategies for creating resilient, future-proof economies. The speakers emphasized the dire necessity of cross-border collaboration and partnerships spanning diverse sectors to sail through global uncertainties and stimulate sustainable growth.

    Building Bridges in a Changing World

    Singapore’s Minister for Foreign Affairs, Vivian Balakrishnan, initiated the conference with a keynote focusing on intensifying Europe-Singapore relationships. Balakrishnan underscored the importance of enhanced cooperation in digital and green economies, robust backing for multilateralism, and tighter ASEAN-EU collaboration. He also motivated European firms to leverage Singapore as a launchpad for their Southeast Asian ventures.

    Family Businesses as Catalysts of Change

    A stand-out session, steered by Federico Donato of MG Partners MFO, highlighted the escalating role of family-owned entities in fortifying Europe-Asia connections. Speakers including Peter Vyncke of Vyncke NV and Gan See Khem of HMI Medical elucidated how family businesses strike a balance between tradition and transformation, from handling generational transitions to embracing innovation without compromising their core values.

    Scaling Innovation Through Partnerships

    In an additional panel, headed by Marcus Lam, Executive Chairman of PwC Singapore, business leaders discussed how the Singaporean ecosystem can propel innovation. Industry experts, including Lawrence Wu of EDP Renewables APAC and Juliana Kua of the Ministry of Trade and Industry, shared practical strategies to assist businesses at various stages of their transformation journeys.

    Hub for Collaboration and Growth

    The conference served not just as a dialogue platform but also a networking opportunity. Participants engaged in cross-industry networking, explored foreign market prospects, and formed partnerships aimed at crafting resilient, future-proof business ecosystems. SBF Chairman S. S. Teo said, “The inaugural Europe Conference 2025 accentuates Singapore as a link connecting Europe and Asia. By collaborating with our European counterparts, we are cementing a foundation of trust, innovation, and long-term collaboration.”

    Milestone for Europe-Asia Connectivity

    The event, supported by partners such as Gulf Air, BPM LLP, EDP, Jason Marine, and PSA International, denoted a crucial landmark in promoting Europe-Asia connectivity. It highlighted Singapore’s persistent role as a strategic hub fuelling digitalisation, resilience, and sustainability – the primary forces moulding the future of international business.

    Questions & Answers

    What was the focus of the inaugural Europe Conference 2025?
    The conference focused on “Sustainability & Innovation” and aimed at bringing together industry leaders, policymakers, and innovators to chart strategies for creating resilient, future-ready economies.

    What role does Singapore play in connecting Europe and Asia?
    Singapore acts as a strategic hub that drives sustainability, innovation, and long-term collaboration between Europe and Asia.

    How can European firms leverage opportunities in Southeast Asia via Singapore?
    European firms are encouraged to use Singapore as a springboard for their ventures into the rapidly evolving Southeast Asian market.

  • Bata’s First Indian Ceo, Sandeep Kataria, Steps Down; Panos Mytaros Steps Up As Global Successor

    Bata’s First Indian Ceo, Sandeep Kataria, Steps Down; Panos Mytaros Steps Up As Global Successor

    Sandeep Kataria, the Chief Executive Officer of Bata, has announced that he will be resigning from his role in September to seek fresh prospects. The departure will coincide with the appointment of Panos Mytaros as the corporation’s new Global CEO.

    Transition of Leadership

    Kataria, who started his tenure with the Switzerland-based footwear company in 2020, was the first Indian to spearhead the brand, which has been in business for 130 years. During his time with Bata, Kataria played a crucial role in modernizing its global operations. His tenure witnessed a significant transformation of the brand, including a revamped identity, streamlined operations, and a shift towards digital and design-led innovation.

    In a highly competitive and digital-dominated retail landscape, Kataria was credited for enhancing Bata’s market positioning across Asia, Africa, and Europe. The company expressed deep appreciation for his contributions, emphasizing his tireless dedication to the people and his passion for the Bata brand.

    Looking back at his time with the company, Kataria portrayed Bata as “a community, a legacy, and a force for good,” expressing that leading the team was one of the most significant privileges of his life. It is expected that Kataria will remain with the company for several months to facilitate a smooth leadership transition.

    Appointment of New Global CEO

    The new Global CEO, Panos Mytaros, is an industry veteran with over 30 years of experience in the footwear and leather industry. Prior to his appointment at Bata, he held the position of CEO at the Danish shoe company, Ecco.

    Graham Allan, the chairman of Bata, praised Mytaros for his deep industry knowledge and passion for footwear craftsmanship. “His track record in brand building and developing compelling footwear collections, as well as in leading complex international organizations, made him the ideal candidate to guide Bata through our next phase of growth,” Allan added.

    About Bata

    Bata, established in 1894 in the present-day Czech Republic, continues to be a family-owned business. The company sells approximately 150 million pairs of shoes annually under roughly 20 brands, including Bata, North Star, and Power.

    In India, Bata operates over 1960 stores, selling roughly 50 million pairs annually. This makes it the country’s leading footwear company in terms of both revenue and volume.

    Questions & Answers

    Who is replacing Sandeep Kataria as the CEO of Bata?
    Panos Mytaros, previously the CEO of the Danish shoe company Ecco, will replace Sandeep Kataria as the CEO of Bata.

    What significant changes did Sandeep Kataria bring about in Bata during his tenure?
    During his tenure, Kataria led a significant transformation of the brand, including a revamped identity, streamlined operations, and a shift towards digital and design-led innovation. He also helped enhance Bata’s market positioning across Asia, Africa, and Europe.

    What is Bata’s standing in the Indian market?
    With more than 1960 stores and approximately 50 million pairs of shoes sold annually, Bata is the largest footwear company in India by both revenue and volume.

  • UBS Creates ESG Role in Investment Bank

    UBS Creates ESG Role in Investment Bank

    The Swiss bank appoints one of its investment bankers to a key sustainability role.

    Zurich-based UBS is naming Laurent Bouvier to front a new team of investment bankers focused on environmental, social, and governance responsibility, according to a memo seen by finews.com. Bouvier, a managing director, is currently co-head of the global industries group, with Charles Otton.

    Bouvier’s promotion is part of a wider push by UBS and other investment banks to increasingly consider so-called ESG criteria in traditional sectors like industry. Wall Street rivals like Goldman Sachs and Deutsche Bank have already set up similar teams, which first reported Bouvier’s appointment.

    A dealmaking veteran, Bouvier will be joined by Armin Peter and Samantha Sutcliffe, who have devoted themselves to sustainable banking and finance efforts at UBS since 2019. Peter is the global head of debt syndicate and the head of sustainable banking in the European, Middle East, and Africa regions. Sutcliffe is the head of green and sustainable finance.

    Bouvier previously spent more than 16 years at Credit Suisse, also as an MD, before joining UBS in 2015. He will be replaced in his current job by Philippe Chryssicopoulos, who will co-lead the industrials group with Otton.

    Lees ook:

    Lees ook:

  • Indonesia has role in tourism development in maritime silk route

    Indonesia has role in tourism development in maritime silk route

    Indonesia has an important role and can take advantage of tourism development in the maritime silk route of the 21st century in China, according to China National Tourism Administration (CNTA) Information Center Director Cai Jiacheng.

    “Indonesia has its own uniqueness as a global tourist destination, especially for the countries along the maritime silk road of the 21st century in China,” Jiacheng told.

    According to him, Indonesia has a lot of cultural diversity and unique and attractive natural sceneries that can make the country a world tourist destination.

    “However, Indonesia must fix the infrastructure and build good connectivity with a number of other countries, particularly with countries along the maritime silk road,” Jiacheng noted.

    “Indonesia should actually be able to provide maximum services, ranging from easing visas and providing adequate infrastructure, including connectivity, to attract tourists to come to the country,” he added.

    Jiacheng added that Chinese travelers can visit other countries through the ASEAN countries such as Indonesia, Thailand and Singapore.

    “Therefor e, Indonesia has opened the path for China to ASEAN, because of its strategic position to support tourism development in the maritime silk road of the 21st century that can also provide a great advantage for the country,” he said.

    Tourism is playing an increasingly important role in the economic growth of China. Tourism sector accounted for about 10.8 percent of the total growth in Gross Domestic Product (GDP) and 10.2 percent of the national job last year.

    CNTA is targeting 137 million foreign tourists to visit China in 2016, or up to 2.5 percent compared to that of the previous year, while the amount of targeted revenue from foreign tourist arrivals is US $ 121 billion, up by 6.5 percent over the previous year.

    “Therefore, China is serious to work on the tourism sector by using destination packages, connectivity, and the use of information technology for marketing and promotion,” he said, adding that Indonesia can take advantage of the tourism development in the maritime silk road of the 21st century.

    Lees ook:

    Lees ook:

    Lees ook:

    Lees ook:

    Lees ook: