Boeing's CEO and chairman will resign, and Lu Minfang will step down and Mengniu President Gao Fei will take over Executive Updates: March 23 – April 7, 2024

Mengniu Dairy, Sun Art Retail, E-House China, InterContinental Hotels, Ford China, Boeing, Bentley, SGS, Sony, Microsoft, Timken, Royal Bank of Canada and other company executives.

China

Mengniu Dairy announced on March 26 that in accordance with the group's strategic arrangement, Mr. Lu Minfang was promoted to vice chairman, stepped down as president of the company and continued to serve as executive director. Mr. Gao Fei, former senior vice president and head of the room temperature business department, took over as the president of the company and served as an executive director.

Sun Art Retail announced on the Hong Kong Stock Exchange that Lin Xiaohai resigned as CEO of Sun Art Retail and was transferred back to Alibaba Group for another appointment. Shen Hui serves as Executive Director and CEO of Sun Art Retail, and Huang Mingduan retains his position as Chairman of Sun Art Retail. Shen Hui has extensive management experience in the retail industry. He joined Sun Art Retail Atoms in 1999 and participated in the preparation and construction of the Auchan brand in China, and has been working in the retail industry ever since.

The board of directors of E-House (China) Enterprise Holdings Co., Ltd. announced that Ding Zuyu will resign as the company's chief executive officer effective April 2, 2024, due to his stated intention to acquire the equity of CRIC Information. Ding Zuyu will continue to serve as the chairman of CRIC and will continue to serve as an executive director of the board of directors. At the same time, Zhou Xin, Chairman and Executive Director, has been appointed as the Chief Executive Officer of the Company with effect from 2 April 2024.

InterContinental Hotels Group (IHG) is pleased to announce the appointment of Daniel Aylmer as Chief Executive Officer, Greater China and a member of the Group's Global Executive Committee. Mr. Emer has worked in China for more than 20 years and has extensive experience in the hospitality industry. He joined IHG in 2016 and became Managing Director, Greater China in 2021. At present, the Group has 12 hotel brands in China, with more than 1,200 hotels in operation and under construction. As CEO of Greater China, Emmer will further advance the Group's growth strategy in China, strengthen partnerships with owners, and continue to enhance the Group's performance and reputation.

Ford Motor (China) Co., Ltd. announced on April 1 that Jia Mingdi will succeed Zhu Meijun as president of Lincoln China. Zhu Meijun, the current president of Lincoln China, will officially retire from the company on May 1. Prior to joining Lincoln China, Mr. Jia worked for SAIC Motor and worked for SAIC Volkswagen for a long time, where he held various senior management positions, including General Manager of SAIC Volkswagen's Audi Division, Executive Vice President of Marketing and Sales of SAIC Volkswagen, and General Manager of Shanghai SAIC Volkswagen Sales Co., Ltd.

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Cho Seok-rae, honorary chairman of South Korea's Hyosung Group, passed away on March 29 at the age of 89 due to old age. In 2017, he retired from the front line of business due to advanced age and health problems.

Boeing has announced that CEO Dave Calhoun will step down at the end of 2024. Larry Kellner, chairman of the board, will also resign and will leave the board at the company's annual meeting in May. He was succeeded as chairman by Steve Mollenkopf. In addition, Stan Deal, President and CEO of Boeing Commercial Airplanes, will leave the company, effective immediately. He was succeeded by Stephanie Pope, who recently became Boeing's chief operating officer. After a series of quality and manufacturing deficiencies in Boeing's aircraft, Boeing came under increasing pressure to make major changes to the company.

Bentley Motors has announced the immediate departure of Adrian Hallmark from the Volkswagen Group. His successor will be announced "in due course". The former Bentley head is set to switch to British brand Aston Martin. Hallmark will replace 78-year-old Amedeo Felisa as the third Aston Martin CEO in four years, and Aston Martin has confirmed that Hallmark will become CEO by October 1, 2024.

The Timken Board of Directors has reached an agreement with Tarak Mehta to appoint him as the company's next President and Chief Executive Officer on September 5, 2024. Mehta is President of ABB's Motion Control Division and a member of the Group Executive Committee. Mehta will assume the role of President and Chief Executive Officer of Timken following the completion of the transition period at ABB. Richard G. Kyle will continue to serve as President and Chief Executive Officer until Mehta takes office. Kyle will serve as an advisor to assist with the transition of leadership. After ten years as CEO of Timken, Kyle plans to retire but will continue to serve on the company's board of directors.

SGS, the testing, inspection and certification body, has announced the appointment of Geraldine Picaud as Chief Executive Officer of SGS Group and the announcement of a new Executive Committee.

Teladoc Health, an online consultation company, has announced the sudden departure of CEO Jason Gorevic, who has immediately resigned as the company's CEO. The company's board of directors has provisionally appointed Chief Financial Officer Mala Murthy as Gorevic's successor and has hired a headhunter to select a long-term stable successor.

Sony's president, chief operating officer, and chief financial officer, Hiroki Totoki, has officially taken over as interim CEO of the PlayStation division.

Microsoft has appointed Pavan Davuluri as the new director of Windows and Surface. After Panos Panay's surprise move to Amazon last year, Microsoft spun off its Windows and Surface divisions with two different heads. Now both Windows and Surface will be in charge of Dauluri.

Elon Musk's social media platform X has appointed a new chief security officer. Currently, the company is trying to rebuild relationships with advertisers. Kylie McRoberts, currently at X, will become the new Chief Security Officer, overseeing the team responsible for maintaining X's policies and developing new features. The company also said it has hired Yale Cohen as head of brand safety and advertiser solutions, and he was previously executive vice president of advertising and PR firm Publicis Media.

Royal Bank of Canada fired Chief Financial Officer Nadine Ahn after an internal investigation concluded that she had an undisclosed close personal relationship with another employee, in violation of the bank's code of conduct. Katherine Gibson has been appointed interim CFO and the bank will be looking for an eventual replacement.