7 Days Group (SVN) Promotes Yuezhou Lin to CEO, Alex Nanyan Zheng to Co-Chair
Tweet
Share
E-mailGet Alerts SVN Hot Sheet
Join SI Premium – FREE
7 Days Group Holdings Limited (NYSE: SVN), announced that as part of a strategic realignment of its senior management team, the Board of Directors has appointed Mr. Alex Nanyan Zheng, Chief Executive Officer ("CEO"), as Co-Chairman of the Board of Directors, effective March 23, 2012. Mr. Zheng will remain as CEO until June 30, 2012, at which point he will be succeeded by Mr. Yuezhou Lin, 7 Days' Chief Operating Officer ("COO").
The management realignment will allow Mr. Zheng to focus his attention on the development of the Company's new strategic initiatives while handing the day-to-day leadership of the Company to Mr. Lin. These initiatives include the proposed launch of a new hotel subsidiary in the high-end brand segment, and the development of opportunities to further leverage the Company's industry leading e-Commerce platform and value-added member services. 7 Days has initiated the process to develop a new hotel brand, which it intends to operate as a stand-alone subsidiary of the Company with its own management team. In addition, the Company is in discussion with local and international design firms to develop the hotel concept and brand positioning and has assigned dedicated internal resources to this effort. Mr. Zheng will oversee both of these initiatives in his role as Co-Chairman of the Board.
The management realignment will allow Mr. Zheng to focus his attention on the development of the Company's new strategic initiatives while handing the day-to-day leadership of the Company to Mr. Lin. These initiatives include the proposed launch of a new hotel subsidiary in the high-end brand segment, and the development of opportunities to further leverage the Company's industry leading e-Commerce platform and value-added member services. 7 Days has initiated the process to develop a new hotel brand, which it intends to operate as a stand-alone subsidiary of the Company with its own management team. In addition, the Company is in discussion with local and international design firms to develop the hotel concept and brand positioning and has assigned dedicated internal resources to this effort. Mr. Zheng will oversee both of these initiatives in his role as Co-Chairman of the Board.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Boeing names Ryan Shedd as new SVP and controller
- Albemarle names Max Hood as chief accounting officer
- J.M. Smucker names Jeff Varcoe as SVP of Science and Technical
Create E-mail Alert Related Categories
Management ChangesSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
