Shanghai No.1 Pharmacy Company, the leader in Shanghai's medicinal retail industry, has announced the resignation of its former general manager Shao Songqi and the appointment of Xu Zhenwu from Bailian Group as Shao's replacement.
According to public documents, Xu Zhenwu is 53 years old and has worked as the vice general manager of Shanghai Runhua, vice general manager of Shanghai Newroad Department Store, general manager of Shanghai New Hua Lian Mansion, general manager of Shanghai Hualian Commercial Building and vice general manager of the department store section of Bailian Group. At present, he is the board member and general manager of Bailian Group.
As Xu Zhenwu becomes the new general manager, the integration of No.1 Pharmacy and Huifeng Pharmacy Company will be further accelerated. In May, 2006, No.1 Pharmacy acquired a full stake in Huifeng Pharmacy, which was owned by Bailian Group, for RMB37 million.
The integration of No.1 Pharmacy and Huifeng Pharmacy Company includes a wholesale business and chain retail business. The two companies will purchase, distribute and manage the united business. With the mature chain store management skills of Huifeng Pharmacy, No.1 Pharmacy will soon open more chain drug stores in shopping malls and big marts around China.