Intime Department Store Appoints New President

Zhou Minghai has resigned from his position as president of Hong Kong-listed Intime Department Store and Chen Xiaodong, former COO and vice president of the company, has been appointed CEO and president of the group.

In an announcement the group stated that Zhou had resigned for personal reasons and added that he had also resigned from all posts with subsidiaries of the group. Zhou joined Intime in 2004. Prior to this, he had held senior management positions in Bird and Potevio. In the the four years under Zhou's leadership Intime made a series acquisitions and continued to expand in Hubei, Beijing, Xi'an, Shanghai, and Zhejiang. In 2007, Intime Department Store was listed in Hong Kong.

Chen Xiaodong was vice president of Intime Group since February 2007 and COO of the group since July 2007. With more than ten years experience in financial management and capital markets, Chen held various managerial positions in both public listed and private companies prior to his appointment to the company.