Monday, China Nepstar Chain Drugstore Ltd. (NPD), a retail drugstore chain, announced the appointment of Ian Wade as the co-Chief Executive Officer. The company also named William Weili Dai its new Chief Financial Officer, who will replace the interim finance chief Zixin Shao. The company said both the appointments were effective immediately.
Wade, a veteran in the retail industry, was with AS Watson Group as Group Managing Director for 25 years. During his tenure, he made the Hong Kong based business extremely profitable by expanding its horizons throughout Asia and Europe.
Prior to his appointment in Nepstar, Dai was the Chief Financial Officer of MicroPort Medical, a medical device company in China. Earlier, Dai was the finance manager in three companies --- Mundipharma Pharmaceuticals, Boston Scientific and Case Corp. Dai had also worked with Ford Motor Co. as financial analyst, where he later became the component department controller and then an assistant to the CFO of Ford's joint venture in China.
Jiannong Qian, the other Co-Chief Executive Officer, will handle new business development, acquisitions and partnership development, while Wade would focus on maximizing operating efficiencies and profitable growth.
Shares of NPD closed Friday's regular trading session at $4.92. In the past 52 weeks, the stock has been trading in the range of $2.78 to $16.51.
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