Watsons Hong Kong Managing Director Samuel Lee will step down on November 1, to be replaced by veteran executive Donna Poon. This marks the fifth senior management change at Watsons since 2024, continuing a leadership overhaul across its global operations. New appointments including Group CEO Malina Ngai and China Managing Director Wei Nie bring strong digital credentials, particularly in advancing Watsons’ “O+O” (online plus offline) business model. Watsons China revenue fell 3% YoY in H1 2025, with EBITDA plunging 53%. The retailer closed 145 locations in mainland China while expanding “dark stores” for instant retail from 131 to 394 in six months.