Starbucks names China CEO, eyeing store expansion
Starbucks Corp named its first chief executive officer for China and said it plans to more than double its store count in the country to 5,000 by 2021. The world’s biggest coffee chain promoted BelindaWong to the title of CEO of Starbucks China. Wong, who had been president of that operation, will continue to report to John Culver, group president of Starbucks Global Retail. Among other things, Wong will oversee the opening of Starbucks’ first international Roastery and Reserve Tasting Room in Shanghai in 2017. Starbucks has operated in China for 17 years.
Conde Nast shakeup begins, moremoves coming
Conde Nast, the New Yorkheadquartered mass media affiliate of Advance Publications Inc, is going through major top management shakeups. Jim Norton, former executive of America Online Inc, is tapped as chief business officer and president of revenue to restructure business for Conde Nast. President Edward Menicheschi and Chief Administrative Officer Jill Bright have left office, stirring speculation that the publisher might regroup on a larger scale.
TVB appoints Li Ruigang as vice-chairman of the board
Hong Kong based Television Broadcast Ltd, also known as TVB, appointed Li Ruigang as the vice-chairman of the board and one of the non-executive board directors. Public information shows that Li now holds approximately 113.89 million indirect shares of TVB, which represents 26 percent of the company`s outstanding common stock. Li had been the board chairman and president of Shanghai Media Group Ltd for seven years, then he left to head China Media Capital Group, focusing on fund management.
Visa announces its succession plan for chief
The board of Visa Inc elected Alfred F. Kelly, Jr to be the company’s next chief executive officer, following current CEO Charlie Scharf’s resignation. Kelly joined the board in Visa two and a half years ago, and is concurrently a board director of MetLife Inc, the holding company for of Metropolitan Life Insurance Co. Earlier he had worked for American Express Co for 23 years and left as the president. Scharf helped transform the payments technology company Visa into a technology-driven digital commerce company, and the total shareholder return increased by 130 percent under his leadership, said the company’s independent chairman RobertW. Matschullat. The CEO transition will start from Oct 31.
Everbright deputy general manager to move to CIC
Liu Jun, the current deputy general manager and vicechairman of the board of China Everbright Group, is to take office in China Investment Corp, also as the deputy general manager. It remains unrevealed whether Liu would retain his position as the vicechairman of China Everbright Ltd, a financial service affiliate of CEG. Liu majored in finance in Renmin University of China and has aMBA doctorate from The Hong Kong Polytechnic University. Liu’s jobshifting follows frequent management shakeups in CIC, where the general manager and deputy general manager have just been replaced.