We are going through a period of changes to the Xiaomi management which in recent months has already seen a new vice president of the Xiaomi group and director of marketing (CMO) in the figure of Yang Zhe and a new head of the supply chain, Zeng Xuezhong. Today it has been leaked who will become the new CFO (Chief Financial Officer), or the financial director.
Credit Suisse executive will become Xiaomi's CFO
As with the other two cases, this is a very important person, specifically Alain Lam, a Credit Suisse executive who is currently head of the technology and media division at Credit Suisse's investment banking and capital markets group. in Asia and the Pacific. Alain Lam takes over from Chew Shou Zi, whose new role is that of president of international operations.
In any case, Lam's appointment should help Xiaomi create new revenue streams especially from the different companies in its ecosystem. Second Bloomberg in fact, Xiaomi executives have long argued that the market underestimates the value of its vast portfolio of startups, ranging from the Segway brand Ninebot Inc. to portable charger manufacturer Zimi. Some products that often sell gadgets under the "Mi" brand have gone public, including smartwatch maker Huami Corp. and home appliance developer Viomi Technology Co.
In the past, Lam worked with Morgan Stanley and has more than 20 years of experience. We even know that he has worked on over 140 transactions worth more than $ 60 billion, including the public listings of Alibaba Group Holding Ltd., Google and Pinduoduo.
Finally, according to the source who leaked the news, Credit Suisse named Allan Chu as a replacement for Mr. Lam in an internal note. At the moment, however, both Xiaomi and Credit Suisse have not yet released any official press releases.
Source | Gizmochina
Source | Bloomberg
