Samsung Electronics has drastically restructured its top management; Alibaba has promoted Xu Hong to CFO | Executive changes December 6-12, 2021

Executive changes in Alibaba, Douyu, Wahaha, Volkswagen, Audi, Ruizai, Samsung Electronics, Meta, Google, Twitter and other companies.

China

Chinese tech giant Alibaba Group said it had promoted Mr. Xu to chief financial officer. Xu Hong, who currently serves as Alibaba Group's deputy chief financial officer, will succeed Wu Wei as chief financial officer in early April next year. Wu Wei will continue to serve as an executive director. In addition, Daniel Zhang, chairman of Alibaba's board of directors, announced the upgrading of the "diversified governance system" and the newly integrated establishment of two major business sectors: China's digital commerce and overseas digital commerce. The "China Digital Business Sector" is in charge of Dai Shan, The President of the Group, and the "Overseas Digital Business Sector" is under the responsibility of Jiang Fan, President of the Group.

Douyu announces changes to the board of directors and management. Zhang Wenming voluntarily resigned as a director and co-chief executive officer of the Company for personal reasons. Douyu's Board of Directors has appointed Deng Yang, Vice President of Douyu's Vice President in Charge of Legal Affairs, as a Director of the Board of Directors and Mingming Su, Director and Chief Strategy Officer of the Company, as a member of the Remuneration, Nomination and Corporate Governance Committee of the Board of Directors with effect from 7 December 2021.

Wahaha Group released a news on the official website, announcing that Zong Fuli was appointed as the vice chairman and general manager of the group, responsible for daily work, and together with Zong Qinghou, injected evergreen vitality into the steady development of Wahaha. His father, Zong Qinghou, remained the chairman of the group. Born in 1982, Zong Fuli entered the food and beverage industry in 2004 and has been the president of Hongsheng Beverage Group since 2007, the director of the brand public relations department of Wahaha Group since April 2018, and the deputy general manager of Wahaha Group Sales Company since March 2020.

Volkswagen Brand CEO Brandstaetter will become President of Volkswagen China, and Skoda CEO Schaefer will take over. Brandstaetter will be promoted to Volkswagen's management committee and will focus on handling the Chinese market. Stephan Woellenstein, Volkswagen's current CEO in China, will be transferred to a new role, but it has not yet been determined which role he will hold. Jurgen Unser will become president of Audi China from January 1, 2022, succeeding the retiring Werner Eichhorn.

Chen Donghui, currently President of Swiss Re China and General Manager of Swiss Re Co., Ltd. Beijing Branch (Swiss Re North Branch), decided to retire from Swiss Re, ending his career in the company for more than 5 years. Chen Donghui will officially leave the company on January 31, 2022. After Chen Donghui retires, Han Xue, vice president of Swiss Re China, will temporarily act as the relevant leadership position. Following the necessary processes such as regulatory approvals, Swiss Re expects to confirm the formal appointment of Swiss Re China's head in the coming months.

globe

Samsung Electronics announced its 2022 top-level personnel transfer plan. Former Vice President and President (CEO) Jin Qinan was promoted to President (Chairman) and responsible for leading Samsung Electronics Comprehensive Technology Institute. Han Zongxi, former president of the Video Display Division of the Consumer Appliance Division, was promoted to Vice President and President to lead the merged DIVISION (SET) of the IT Mobile and Consumer Appliance Divisions. Samsung Electric President Kyung Gyye-hyun, who served as vice president of Samsung's Electronic Memory Division, was appointed president to lead the Chip and Components Division (DS). Samsung Electronics' personnel adjustment was somewhat unexpected, reflecting Lee Jae-yong's strong will to build a "new Samsung".

Twitter CEO Parag Agrawal will restructure the leadership team. As part of the overhaul, engineering chief Michael Montano and design and research chief Dantley Davis will step down from Dec. 31 but will remain consultants until the end of the first quarter. Kayvon Beykpour, Bruce Falck and Nick Caldwell will serve as General Managers for Consumer, Revenue and Core Technologies, respectively, leading the engineering, product management, design and research teams.

The Intercontinental Exchange (ICE) has made a sweeping overhaul of its top management, including two of the top positions on the New York Stock Exchange (NYSE), making way for a new generation of executives. Stacey Cunningham, who became NYSE's first female head in 2018, will step down as president. ICE co-founder and CEO Jeff Sprecher will step down as chairman of the New York Stock Exchange. Spretcher has held this role since ICE bought the New York Stock Exchange in 2013 for $8.2 billion.

Former Vice President of Amazon Miriam Daniel joined Google, where she was responsible for the smart speaker Echo and Alexa. Daniel has held that role at Amazon since 2018, stepping down last month as one of Amazon's top executives in its devices and voice control engineering group. She is currently vice president of Google Maps Experience-related projects, which include the Google Maps app and underlying technologies.

Julien Codorniou, vice president of commercial software at Workplace, a subsidiary of Meta, announced his departure and joined Felix Capital, a London-based venture capital firm. This is another high-profile executive in the company's 2021 wave of departures. Stan Chudnovsky, head of Meta's messaging software Messenger, will leave in the second quarter of next year. Stan Chudnovsky will be replaced by Loredana Crisan as messenger team leader after leaving.

Carolyn Everson, president of Instacart, a grocery delivery service, said she would resign at the end of the year, just three months after she joined the company. The company has hired executives from big tech companies like Facebook (now known as Meta), Amazon and Google. Instacart's valuation has grown rapidly to nearly $40 billion this year. Iverson, who worked as facebook's head of advertising for more than 10 years, is seen as one of the most prominent women behind Facebook's chief operating officer, Sheryl Sandberg, but Iverson left the company after Marne Levine was promoted to chief commercial officer last summer.