On the move

CFO Jing Xiandong rises to Ant Financial CEO

Ant Financial Services Group, a leading mobile financial services and an affiliate of China’s e-commerce giant Alibaba Group Holding Ltd, has shuffled its CEO position, replacing Peng Lei with its CFO Jing Xiandong. Peng will continue to be the board chair of Ant Financial, focusing on long-term strategies. As Ant Financial is eyeing a possible initial public offering in Hong Kong, Jing, being the CEO with nearly 20 years of experience in finance management, may speed up process for the company to go public.

Jha to assume Lu’s duties as Microsoft VP

Lu Qi, the Chinese-born executive vice-president of Microsoft Corp, is leaving office due to health issues caused by a bike accident months ago, Bloomberg cited a leaked internal email as saying. Rajesh Jha, a corporate vice-president in charge of Microsoft’s Outlook and Office 365, will assume many of Lu’s duties. After 10 years working in Yahoo Inc, Lu left as the senior vicepresident in 2008 to join Microsoft and run its search engine Bing.

Fonterra names Zhu as president of China unit

Fonterra Co-operative Group has named Zhu Xiaojing to be the president of its China operations. Fonterra is the world’s biggest multinational dairy cooperative headquartered in New Zealand. Zhu will lead to generate and operate on strategies for Fonterra’s branding, catering business and ranch business in China. Zhu is the first female and native Chinese president of Fonterra’s China unit. Earlier, she worked in North Ameri-