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.