Urban Beauty: Xiao Jiale Was Appointed Chief Executive, And Zheng Yaonan Continued As Chairman.

In August 19th, city beauty (China) Holdings Limited (hereinafter referred to as "urban beauty") announced that Zheng Yaonan had resigned as chief executive officer of the company, but he continued to serve as chairman and executive director of the board and Xiao Jia Le has been appointed chief executive officer of the company. The change has taken effect since August 19, 2019.

Zheng Yaonan has been the chairman, chief executive officer and executive director of the company since its listing on the The Stock Exchange of HongKong Limited main board in June 26, 2014. In order to improve the group's performance and enhance corporate governance by separating the role of chairman and chief executive, Zheng Yaonan resigned voluntarily as chief executive officer since August 19, 2019.

After Xiao Jiale was appointed chief executive officer of the company, his main responsibility was to manage the intimate clothing business of the urban beauty group, to plan the strategic development of the group, to ensure and carry out the operation of the strategy, policies and regulations adopted by the board of directors, and to supervise the daily operation of the core functions of the group. According to the employment contract, Xiao Jiale has been the chief executive of the urban beauty since August 19, 2019. The contract provides that Xiao Jia Le can get an annual salary of HK $8 million 580 thousand and bonus. Besides, Xiao Jia Le can also get 3 million shares from the urban beauty.

According to the announcement, Xiao Jiale is 49 years old and joined Adidas (Sports) China Limited in 2002. He was formerly senior vice president of Adidas Greater China business and was responsible for all business in Greater China. Under its leadership, Adidas's earnings and profits in the Greater China market have recorded steady and substantial growth every year, making Adidas one of the most popular sportswear brands in Greater China. In 2017, Xiao Jiale was named "the top 50 leader of retail elite in Hongkong", with rich experience in sports and fashion retailing management.

Xiao Jiale graduated from Chinese University Hong Kong in 1992 and received a bachelor's degree in social work from the Academy of social sciences. He completed his master's degree in Business Administration from Hong Kong University Science & Technology in 1994. After graduation, he joined the Unilever Hk Ltd.

In addition, the board of directors of the city beauty further announced that Lin Zonghong, executive director and vice chairman of the board of directors, was transferred to the company's non-executive director and vice president as a result of his internal rearrangement.

Lin Zonghong, 50, is vice president of the company. He is also responsible for the Affiliated Companies's non-executive directors and general managers. Lin Chung hung is also one of the founders of the urban beauty group. He is mainly responsible for assisting the chief executive in strategic planning and monitoring the overall performance of the group.