China Daily



Michele Buck rises to CEO at Hershey as Bilbrey retires

Candy maker Hershey Co named Michele Buck as its new president and CEO in place of John Bilbrey, who is retiring. The company said that Buck, executive VP and COO, will take her new post from March 1. She joined Hershey in 2005 and has focused on initiative­s including expansion into broader snacking categories. Bilbrey will stay on as non-executive chairman. Earlier this year, the Hershey, Pennsylvan­ia-based company rejected a preliminar­y takeover offer from Oreo biscuit maker Mondelez. The roughly $22.3 billion deal would have created a global powerhouse selling some of the world’s bestknown chocolates and snacks. Lynne, Boyle to co-lead Deutsche in Asia-Pacific

Deutsche Bank AG named David Lynne and James Boyle as co-heads of global markets for the Asia-Pacific region, succeeding Michael Ormaechea, who will leave the bank after almost 22 years. Lynne and Boyle will take their posts on Feb 1, an internal memo showed. Ormaechea is also chief country officer for Australia, and his successor for that position will be announced soon. Lynne will retain his responsibi­lities for Asia-Pacific fixed income and currencies, while Boyle will keep his duties for equities in the region. Boyle was hired from Citigroup Inc. Ormaechea became co-head of corporate banking and securities for AsiaPacifi­c in August 2013 and Australia chief in February last year. Resignatio­n talk surrounds Chee, key UBS Asia official

Joseph Chee, head of UBS Group AG’s Asia investment­banking, has resigned, according to people with knowledge of the matter. Chee, who spoke just last fortnight at UBS’s Greater China conference in Shanghai, plans to leave the banking industry and is considerin­g setting up his own investment fund, said one of the people, who asked not to be identified because the informatio­n is private. A UBS spokesman in Hong Kong declined to comment. IFR reported Chee’s departure, citing unidentifi­ed people. As head of Asia corporate client solutions, Chee was responsibl­e for overseeing UBS’ regional mergers advisory, capital markets and financing for companies, financial institutio­ns and private-equity firms. Tata Sons elevates TCS’ Chandra to group head

Tata Sons appointed Tata Consultanc­y Services CEO Natarajan Chandrasek­aran as its new chairman on Jan 12. He will take over as the executive chairman from Feb 21, Tata Sons said in a statement, adding the selection committee appointed by its board had unanimousl­y recommende­d the group veteran for the job. The decision came after the $100-billion conglomera­te in October ousted Cyrus Mistry and appointed Ratan Tata as its interim chairman, sparking a bitter public spat. At TCS, Chandrasek­aran would be succeeded by Rajesh Gopinathan, currently the company’s chief financial officer.

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