03 Oct YuuZoo Strengthens and Expands Board and Top Management with Experienced International Corporate Governance, Finance, Investments, Marketing, Logistics and eCommerce Team
- Kim Karhu, former Chairman and CEO of PWC Finland and Chairman of Boardman Oy, Finland’s leading organisation for board professionals, and Robert Malmström, former Chairman and current CEO of Finance Link Finland, are both added as new board and audit committee members
- Audit Committee is renamed Audit and Governance Committee, with scope expanded to also cover corporate governance issues
- After additions, 4 out of 6 YuuZoo board members are from Finland, ranked #1 in the world on the 2017 World’s Most Transparent Countries list and outstanding in corporate governance in the 2017 World Corporate Governance Index by SAHA
- 5 new members, all with backgrounds at some of the world’s leading and most successful eCommerce, IT and financial firms, are added to the top management team
- Kevin Wang, China-born American US & France-educated MBA with strong global background from large US and Chinese banks, companies and hedge funds is appointed new CFO
- Philip Wong, former Rocket Internet Regional Head of Finance and former E&Y auditor is appointed to the new position of Head of Investments
- Haidar Omais, former Ezbuy Director of Global Marketplace and former Vice President of Ensogo, is appointed to the new position of Head of eCommerce
- Chong Siong, former Managing Director of Ezbuy Thailand and former Group Head of Performance Marketing at Rocket Internet’s Middle East Internet Group is appointed to the new positions of Group Head of Marketing and Managing Director of YuuZoo’s operations in Thailand
- Jean Jacques Berthelon, former Head of Cinram Logistics France, former EVP for Finance, Legal & Systems at NexhraOne and former Finance Director Southern Europe at Dell, is appointed to new position of Head of Yuulog Europe
Singapore, 2nd October 2017: Singapore Exchange listed YuuZoo Corporation Limited (SGX:AFC), today announced that it has significantly expanded and strengthened its board and its senior management team by the appointment of 2 new highly accomplished board members and 5 experienced new members to its top management team.
After the 2 board appointments, 4 out of 6 board members are from Finland, the country ranked as #1 in the world on the 2017 list of the World’s Most Transparent Countries and ranked as outstanding in corporate governance on the 2017 World Corporate Governance Index.
Says Thomas Zilliacus, Chairman of YuuZoo Corporation: “YuuZoo has by some parties in Singapore been criticized for weak corporate governance. We have taken this criticism seriously. While we are listed on the Singapore Stock Exchange, we are not a Singaporean company. We therefore feel that in strengthening our corporate governance we should not only strive to be on par with best corporate governance practices in Singapore – ranked #17 in the World Transparency Index – but on par with the best corporate governance practices in the world. Half of the board, the founder and the chairman of YuuZoo already hail from Finland, ranked #1 in the World Transparency Index. To further expand the Finnish influence to be on par with the world’s best corporate governance practices was against this backdrop a natural choice. We are extremely pleased to announce the appointment of Kim Karhu, former Chairman & CEO and current Chairman of Boardman Oy, Finland’s leading organisation for board professionals, as a new member of YuuZoo’s board and Audit Committee, now renamed Audit and Governance Committee”.
“We are equally pleased to announce the appointment of Robert Malmström as a new member of YuuZoo’s board and Audit and Governance Committee. Robert Malmström is not only a strong voice on governance issues; he is also a very successful business leader. During his 5 years as CEO of Finance Link Finland, the profits of the company have increased 19-fold. We are confident his expertise in turning around companies and significantly growing their profits will be very valuable also for YuuZoo” he added.
YuuZoo, at the same time, announced the appointment of 5 new members to its global top management team. All new members of the top management team have backgrounds as senior managers with large and successful international eCommerce, finance and IT companies.
Says Thomas Zilliacus, Chairman of YuuZoo Corporation: “We are very pleased to have been able to hire a very strong team of experienced and accomplished business leaders in sectors that are key to YuuZoo’s growth and success. The new team members have held senior management positions at some of the world’s best run and most successful companies; Dell, Citigroup, Compaq, Ezbuy, Rocket Internet, Lazada etc. Their knowhow and experience perfectly complement each other and will help YuuZoo build success on the strong business, technology, distribution and partnership platforms the company already has developed”.
YuuZoo also announced that it has appointed a leading head hunter to search for a new CEO for the company. The Company recently announced the appointment of MRI Moores Rowland LLP as Internal Auditors and the acquisition of the assets of France’s market leader in entertainment logistics and the setup of a new 250-employee strong entity in France, which company will form the base for YuuZoo’s European business and expansion.
Listed on the SGX mainboard (SGX: AFC), with operations across Asia, Africa and Europe, YuuZoo has built a partly patented mobile and online technology platform on which several in-house developed products in a unique, and for each market fully localized manner, offer targeted social networking, eCommerce, games, streaming video, chat and payments to hundreds of millions of consumers across all continents.
With franchisees and partners covering 69 countries with more than 4 billion consumers, YuuZoo reaches a huge global audience through smartphones, computers and TV sets. To see the YuuZoo platform, log-on to: http://www.yuuzoo.com. For more information about the company, please log-on to: http://www.yuucorp.com.