On­the­move

China Daily (USA) - - BUSINESS -

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.

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