Miniso Group reveals management changes
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Lifestyle retailer Miniso Group has unvieled a shift in the management board, with executive VP Steven Saiyin Zhang departing.
According to Miniso, Zhang has resigned as CFO, executive VP, and executive director, effective immediately, for personal reasons and to spend more time with his family. Zhang will continue to work as a senior consultant for the firm.
Following his resignation, the board will comprise five members: three independent non-executive directors and two executive directors.
Miniso said it has also appointed Eason Jingjing Zhang, currently the company’s VP of capital markets, as its new CFO.
“Steven has designed a detailed succession plan to transition his responsibilities to Eason, who has played a key role in driving Miniso’s success in various capital market transactions and several internal finance management projects, demonstrating a clear understanding of our business and establishing confidence in Miniso among the investor community,” said Guofu Ye, founder, chairman of the board and CEO of Miniso.
Eason Zhang, who joined Miniso in January 2021 as director of capital markets, has been VP of capital markets since September, overseeing all capital markets matters for the company, including investor relations, strategic investment and acquisitions, corporate strategy, and treasury.
Prior to that, he began his career in auditing at PricewaterhouseCoopers, after which he worked in different capacities mostly in capital markets in the US, Hong Kong, and China.
Last year, Miniso strengthen its expansion strategy in Canada when reopened its Vaughan Mills store in the Greater Toronto Area and introduced its new “$2 Plus” concept to the market.
Questions & Answers
Q.What role will Steven Saiyin Zhang continue to hold at Miniso after his resignation?
What role will Steven Saiyin Zhang continue to hold at Miniso after his resignation?
Steven Saiyin Zhang will continue to work as a senior consultant for Miniso Group. His resignation as CFO, executive VP, and executive director is effective immediately for personal reasons.
Q.How many members will the Miniso board comprise after Steven Saiyin Zhang's departure?
How many members will the Miniso board comprise after Steven Saiyin Zhang's departure?
Following Steven Saiyin Zhang's resignation, the Miniso board will comprise five members. These will include three independent non-executive directors and two executive directors.
Q.What was Eason Jingjing Zhang's role before being appointed as the new CFO?
What was Eason Jingjing Zhang's role before being appointed as the new CFO?
Before his appointment as CFO, Eason Jingjing Zhang was the company’s VP of capital markets. He joined Miniso in January 2021 as director of capital markets and oversaw investor relations and strategic investments.
Q.What is the new '2 Plus' concept that Miniso introduced in Canada?
What is the new '2 Plus' concept that Miniso introduced in Canada?
The article states Miniso introduced its new “$2 Plus” concept to the Canadian market last year. It mentions this in the context of strengthening its expansion strategy and reopening a store.