Onthemove

Jansen resigns, Jingtao rises to Cofco Agri CEO

Matt Jansen has quit as CEO of COFCO Agri Ltd, the international commodity trading unit of COFCO Corp. The firm has named Jingtao Chi, COFCO Agri’s vice-president, as Jansen’s replacement. Jansen’s departure is seen as a setback to the ambitions of China’s biggest food company to create a global agriculture merchant. Jansen became CEO less than two years ago, but left last week for personal reasons, the company said in a statement. He will still serve as an interim adviser. Jingtao, known as Johnny, has worked at COFCO for 14 years and led its import and export business for the past seven years.

Miramax searches for chief as Steven Schoch leaves

Steven Schoch is stepping down as CEO at Miramax, a US entertainment producer and distributor founded in 1979 by Bob and Harvey Weinstein. Schoch held the post since 2012. Nassar Al-Khelaifi, Miramax’s chairman, will take on the added role of interim CEO while the search is underway for Schoch’s replacement. Miramax was acquired in 1993 by the Walt Disney Company, which sold it to a joint venture comprising Colony Capital, Tutor-Saliba Corporation and the Qatar Investment Authority in 2010. Schoch was Miramax’s CFO from 2010 to 2012. During his tenure, Miramax struck distribution deals in more than 190 countries and relaunched its feature films and TV divisions.

Dentsu head to quit after row over staffer suicide

Tadashi Ishii, president of Dentsu, Japan’s biggest advertising agency, said he will step down later this month to take responsibility for the suicide of an employee who had worked excessive hours. The move comes after the Tokyo Labor Bureau said earlier it would refer the company and officials who manage working hours to prosecutors, potentially leading to a criminal case. Ishii has served as president since 2011 and led the company during its purchase of Aegis Group Plc in 2012 — the biggest deal in Dentsu’s history.

Malaysia 1MDB gets new auditor amid probes

1Malaysia Development Bhd has appointed a new auditor almost a year after Deloitte LLP notified the state investment company that it planned to resign. Parker Randall has already started auditing some of the subsidiaries of 1MDB, the fund’s chairman Mohammad Irwan Serigar Abdullah said. 1MDB said a Malaysian unit of Parker Randall was hired. 1MDB said in July that Deloitte is resigning and the company is seeking a replacement, without giving a reason for the departure.

Shake Shack elevates Koff to COO; CFO Uttz to retire

Shake Shack Inc, known for its indulgent hamburgers, crinkle-cut fries and frozen custard shakes, named company veteran Zach Koff as its first chief operating officer, and said Chief Financial Officer Jeff Uttz will retire. Koff, who joined in 2010, has held various roles, including director of operations, and has been a member of the company’s executive team since its IPO in 2015. The company said Uttz, who has been the CFO since 2013, will remain in his role till mid-March.