Onthemove

KKR appoints Paul Yang as head of China operations KKR has appointment Paul Yang, current president and CEO of China Development Financial Corporation, as head of its China operations, effective January 2017. The appointment follows KKR’s recent announcement that it would expand its Asia-Pacific leadership team with the addition of senior investment talent in China, Singapore and South Korea. In particular, Zhen Ji recently joined as a managing director of KKR China from CITIC Capital. The team build-out prepares KKR for its next decade of investing in Asia-Pacific. Paul Yang brings 20 years of investment experience to KKR.

Lu Minfang to take over from Sun as Mengniu CEO Sun Yiping has resigned as executive director and CEO of China Mengniu Dairy Company Ltd. She held the twin roles for the last four years. Lu Minfang, currently head of subsidiary Yashili, will take over as Mengniu’s next CEO. Wu Wenting, former CFO of China Foods Ltd, was meanwhile appointed as new executive director. People with knowledge of the matter said Sun was pressured by Mengniu`s parent company China Oil & Foodstuffs Corp and the shareholders to leave, while a company statement attributed Sun’s resignation to her personal career plan. Shen Meng, president of Chanson & Company Ltd, a boutique investment banking firm, said the Mengniu shakeup may have been intended to reverse its sliding sales.

Tough year scalps Weight Watchers’ CEO Chambers James Chambers will leave Weight Watchers at the end

of this month, after three years working as the company’s CEO. The three remaining executives — CFO Nicholas Hotchkin, director Thilo Semmelbauer and director Christopher Sobecki — will together serve as a chief executive committee through the interim until the next CEO takes office.

Tiffany names Erceg as CFO Nocoletti’s successor Global jeweler Tiffany & Co has appointed Mark Erceg as its next chief financial officer and executive vice president to take over from Oct 18. Former CFO Ralph Nicoletti had resigned. The 47-year-old Erceg brings varied experience and global perspective to Tiffany, and will be responsible for the company’s worldwide financial, indirect procurement and information technology functions. Erceg has served as executive vice president and chief financial officer at Canadian Pacific Railway Ltd since May 2015. Earlier, he had been CFO of Canadian Pacific Railway Ltd for five years.

Gao Xiaosong to lead key Alibaba committee Alibaba confirmed in an internal letter that Gao Xiaosong, a famous Chinese music producer and song writer, has stepped up as chairman of Entertainment Strategy Committee of Alibaba Group. Yang Weidong, the president of Youku Tudou Inc or Yoku, is concurrently CEO of Ali Music group, to fill in for Song Ke, who is taking over from Gao as board chairman of the Alibaba Group’s music division. Gao will shift his focus to international strategy and Song will be in charge of the show business and innovation.