On the move

Zhang Ping next president of Yashili, Hua COO

The board of milk formula producer Yashili International Holdings Ltd has named Zhang Ping as its next president, and promoted Hua Li, vice-president, to chief operating officer. Zhang, the current CEO of European dairy company Food Union, is expected to boost sales of Yashili by coordinating internal and external resources. He brings 30 years of experience in supply chain management, according to the company board. In 2017, Yashili will focus more on e-commerce.

Swannell, M&S chairman, to step down in 2017

After six years in office, Robert Swannell will step down next year as the chairman of Marks & Spencer, the British multinational clothing and food retailer. Swannell was once known for saving M&S from a takeover bid from British businessman Sir Philip Green in 2004, but is seen as having failed to maintain a good performance during his term as the chairman. M&S has been going through a major sales slump in recent years, and has tapped Steve Rowe to replace Marc Bolland less than a year ago as the CEO, to turn things around.

Wu replaces Zhao as head of Mic Finance of Xiaomi

Wu Zheng has replaced Zhao Minghui as the CEO of Mic Finance, the financial services arm of Chinese tech major Xiaomi. According to Wu, Mic Finance will help connect different business sectors of Xiaomi and help roll out diversified and innovative financial products in the future. Zhao will stay on as a board executive to guide the company’s business strategies. Mic Finance