China Nepstar Recruits Industry Veteran As Co-CEO

China Nepstar Chain Drugstore has strengthened its management team with new appointments, naming Ian Wade as co-chief executive officer and William Weili Dai as the new chief financial officer.

Jiannong Qian, as co-CEO of China Nepstar, will focus on new business development, acquisitions and partnership development, while Wade will focus on maximizing operating efficiencies and profitable growth.

Wade was formally with AS Watson as the group managing director for 25 years managing one of the world's largest and fastest growing global retail companies, with over 7,700 stores in 37 countries. During his tenure at AS Watson, he oversaw the growth of the Hong Kong based business, which then had 16 stores, into a highly profitable, international retail chain with an extensive reach throughout Asia and Europe. During this time Watson opened 270 stores in mainland China and 400 stores in Taiwan, and launched hypermarkets in mainland China. In addition, Wade also managed Watson's retail operations and private label businesses in many countries in Europe.

Prior to joining Nepstar, Dai was the chief financial officer of MicroPort Medical, a leading medical device company in China. From 1996 to 2006, he served as finance manager in charge of China operations for three leading global companies, Mundipharma Pharmaceuticals, Boston Scientific, and Case Corporation.