Isabel Ge Mahe appointed Apple China’s Senior Executive
Isabel Ge Mahe is the newly appointed managing director of Apple in Greater China. She will step up from her current role as vice president of wireless technologies to take on the position of Vice President and Managing Director of Greater China, which was created amid falling sales in the region. She will report directly to CEO Tim Cook and Chief Operating Officer Jeff Williams, according to a statement released by Apple on Tuesday. The Liaoning, China native held an electrical engineer degree at Canada’s Simon Fraser University and has been working at Apple since 2008. She will relocate from Los Altos, California to Shanghai later this summer.
A&F CEO Announced Tmall Store Takeoff
Fran Horowitz, CEO of Abercrombie and Fitch since February announced that the brand is opening up its online flagship store on Tmall.com, a popular Chinese e-commerce platform owned by Alibaba. The launch is set to take place on July 26, and the brand’s official webpage on Tmall.com is already in place, with a countdown board that says “coming in 4 days.” The American casual luxury brand has been stumbling in sales and PR in recent years and the appointment of Fran Horowitz earlier this year came after a long gap in leadership. Horowitz had a little short of twenty years of experience in the retail market and had successfully led the introduction of Hollister Co., the company’s other brand, into the Chinese market.
Ma Huateng Beats Wang Jianlin, Becomes 2nd Richest Man in China
Ma Huateng moved up on Bloomberg’s Billionaire Index today and became the second richest man in China–a place previously held by Wanda Group’s founder Wang Jianlin. Ma Huateng, who also goes by the name Pony Ma is the co-founder and CEO of Tencent Inc, one of China’s largest internet companies and is famous for its most-loved instant messaging and social media software QQ and WeChat. A native of Guangdong Province, Ma graduated from Shenzhen University with a computer science degree and started the now-multibillion company with a college friend of his, using his savings from stock investment. He is now estimated to be worth $33.7 billion.
Sun Hongbin Named New Chairman of LeEco
The CEO of real estate developer Sunac China Holdings, Sun Hongbin was elected the new Chairman of LeEco during a phone meeting among the company’s board members on Friday. It is unknown when or if he will take on the position, left vacant by his predecessor Jia Yueting, who resigned on July 6. Sun, a U.S. citizen, held a master’s degree at China’s prestigious Tsinghua University. He was sentenced to five-year imprisonment for misappropriation of funds in 1992 and served one year and two months in prison. He founded Sunac China Holdings in 2003 and started investing in LeEco early 2017.