People Digest: Zalora CEO resigns; Vingroup appoints new CEO

Zalora CEO Parker Gundersen has announced his resignation from the fashion e-commerce firm, while Vietnam’s property giant Vingroup has appointed Nguyen Viet Quang as its new CEO.

Zalora announces resignation of group CEO

Zalora’s Group CEO Parker Gundersen is set to leave the fashion e-commerce firm at the end of May, according to an official statement. The company is understood to be currently searching for his replacement.

Gundersen, who joined the company in August 2016, cited undisclosed personal reasons for his resignation. Before joining Zalora, Gundersen worked at DFS Group, the travel retail subsidiary of Moët Hennessy Louis Vuitton.

Zalora sold its businesses in Thailand and Vietnam to conglomerate Central Group in 2016 before selling a 49 per cent stake in Zalora Philippines a year later to local conglomerate Ayala Group.

Zalora is part of Global Fashion Group, which operates fashion e-commerce sites in high growth markets through its various subsidiaries.

Vingroup appoints new CEO

Vietnam’s property giant Vingroup has appointed Nguyen Viet Quang as its new CEO. The appointment comes after Vingroup announced plans to foray into the automotive industry with its VinFast brand.

The new CEO, 50, holds a master’s degree in law and a bachelor’s degree in business administration from the National Economics University. He will hold the CEO position of the group for the next three years replacing Duong Thi Mai Hoa, who held the position since 2014, according to Vingroup’s announcement.

Joining Vingroup in 2010, Quang was elected to the group’s executive board in April last year. He has also held several key positions in Vingroup’s member companies, including General Director of Southern Hanoi Urban Development JSC, General Director of Investment and Ecology Development JSC and Chairman of Vinmec Hospital.

Vingroup’s total consolidated net revenue in 2017 was recorded at over VND90.3 trillion ($3.98 billion), an increase of 56.8 per cent year-on-year. Net profit stood at VND5.4 trillion ($2.37 billion), up 54.8 per compared to 2016.

Vingroup launched its made-in-Vietnam motor vehicle brand VinFast in September last year. Its automobile manufacturing complex is located in the northern port city of Hai Phong with a total investment capital of VND35 trillion ($1.5 billion).

VinFast targets becoming the leading automobile manufacturer in Southeast Asia with a capacity of up to 500,000 vehicles per year by 2025.

Also Read:

Vingroup picks banks for property unit IPO that could raise $1b

CapitaLand to launch $500m Vietnam fund targeting commercial property

Indonesia premium fashion e-commerce Paraplou Group shuts down

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.