Prosecutors on Tuesday summoned Zheng Jing-tai, the president of Tokyo Fashion Co., and conducted searches of his residence on suspicion of fraud and hollowing out the company's assets.
Upscale jeweller Tiffany said Michael Kowalski, its CEO of 15 years, would retire next year and President Frederic Cumenal would succeed him.
Kowalski, 62, joined the company in 1983 and became CEO in 1999. He took the additional role of board chairman in 2003.
Cumenal, 54, will take over as CEO from 1 April next year, just over four years after joining Tiffany. He was appointed president and given a newly created seat on the company's board in September 2013.
US footwear maker Crocs Inc. on Tuesday named consumer brand management expert Andrew Rees President of the Crocs brand.
Rees also will assume the role of principal executive officer until the company finds a permanent CEO. Rees will report to the Crocs board of directors. He is expected to join the company officially on 9 June.
Rees joins Crocs from management consulting firm LEK Consulting.
The board of directors of Acer elected company founder Stan Shih as chairman and interim corporate president.
The move followed the resignation of chairman & CEO J.T. Wang and corporate president Jim Wong.
“Due to the situation that now faces Acer and my personal social responsibilities, I must stand up and take the reign without salary,” Shih said.
Wang and Wong have committed to remain with Acer as advisors to ensure a smooth transition and transfer of the management team and to help the company back to stability.
The Mall Group has recruited a professional from outside to take over in a bid to help its empire grow amid fiercer competition. Matthew: Young blood to grow brand Matthew Kichodhan, a former president of the Oishi Group.
Myanmar's president is pushing to give overseas investors greater flexibility in their holdings in joint ventures with local businesses in certain sectors, an official in the presidential office said Tuesday.
China's Cabinet announced measures Wednesday aimed at boosting Hong Kong's anemic economic growth as the semiautonomous territory prepares for a weekend visit by Chinese President Hu Jintao.
The toast of Chinese liquors, baijiu, is becoming an international luxury brand thanks to a dedicated Frenchman. Cyril Camus, president of the fifth-generation Camus Cognac that began its distillery in 1863, slowly fell in love with the drink of Chinese heritage.
Procter & Gamble will move its skin care, cosmetics, and personal-care headquarters from Ohio to Singapore to be closer to the growing Asian market, and the president of the group will leave instead of move.
The relocation, which is expected to take two years, reflects P&G's desire to run the business out of Asia, where it sees the biggest growth opportunity. It was announced less than three months after P&G unveiled a restructuring plan aimed at saving USD10 billion and helping the world's largest household products maker expand faster in emerging markets.
Thailand's retail operators have imposed various safety measures for Songkran, the country's traditional New Year day, to increase consumer confidence in the safety of their malls after the recent car bomb in Hat Yai.
Chai Srivikorn, president of the Ratchaprasong Square Trade Association (RSTA), said member retailers are still concerned about safety and offered special training for their security guards to deal with emergency situations. Guards will be trained to notice suspicious objects that could be bombs.