27 Jan YuuZoo Continues to Strengthen Management Team, Hires Lazada’s Financial Controller in View of Expected Strong E-Commerce Growth
YuuZoo appoints Thai Youn Fatt to the newly created position of Group Financial Controller, hired from the same position at Lazada, another fast-growing e-commerce company.
Announcement comes one day after the appointment of Rio Inaba, former member of the CEO’s Office at Rakuten, one of the world’s largest e-commerce companies who also functioned as Rakuten’s former Global President & Director of New Market Development, to the new position of Chief Revenue Officer.
YuuZoo at the same time splits the Group finance responsibilities between a CFO and a Group Financial Controller and appoints Olivier Richard as temporary CFO.
Singapore, January 23rd 2015: Singapore-based YuuZoo Corporation (“YuuZoo” SGX: AFC), the world’s first third generation social e-commerce company is pleased to announce the appointment of Thai Youn Fatt, former Financial Controller at Lazada, as Group Financial Controller (“GFC”).
The position is new, and the GFC takes over a number of key responsibilities that earlier were with the CFO, including accounting, internal control and financial reporting. The decision to split the responsibilities for finance-related matters between a CFO and a GFC is linked to the expected strong growth in e-commerce. With the split of the former duties of the CFO, YuuZoo has also appointed Olivier Richard, who until now has worked as YuuZoo’s SVP M&A, as temporary CFO, and has agreed with Linda Hoglund, who was appointed as CFO on December 3rd 2014 and was to start working fulltime on January 19th 2015, that she will leave the company effective January 22nd 2015.
The appointment of Thai Youn Fatt as Group Financial Controller follows hot on the heels of the appointment of Rio Inaba, former Global President of New Market Development at Rakuten, one of the world’s largest e-commerce companies, as Chief Revenue Officer.
Commenting on the appointments, Mr. Thomas Zilliacus, Chairman and CEO of YuuZoo, said, “I am very pleased to see the continued flow of top executives join us from other strong companies. We expect to see significant growth in e-commerce this year, and have in view of this decided to split the duties of the CFO between a CFO and a Group Financial Controller. We welcome Thai to the YuuZoo family, and look forward to working with both in expanding and growing an already profitable business.”
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Headquartered in Singapore and listed on the SGX mainboard (SGX: AFC), with access to over 85 million registered users in 164 countries, YuuZoo in a unique way combines social networking and e-commerce in a mobile-optimized, fully localized virtual shopping mall, where the consumer can access hundreds of targeted social networks, targeted shops and targeted entertainment through one single login. All networks are localized for each market as comes to language as well as merchandise and design. To see the networks, log into: www.yuuzoo.com or www.yuuzoo.cn. For more information about the company, please log on to: www.yuucorp.com.
Macquarie Capital (Singapore) Pte. Limited (“Macquarie”) was the financial adviser to W Corporation Limited (now known as YuuZoo Corporation Limited) in relation to the acquisition of the entire issued and paid-up share capital of YuuZoo Corporation and its subsidiaries.