Huazhu Group Limited Announces Change of Chief Financial Officer
April 28 2021 - 9:00AM
Huazhu Group Limited (NASDAQ: HTHT and HKEX: 1179) (“Huazhu” or the
“Company”), a world-leading hotel group, today announced that Mr.
Teo Nee Chuan will resign as chief financial officer of the Company
for personal reasons, effective May 10, 2021.
Ms. Hui Chen, chief compliance officer of the Company since
February 2020, has been appointed to serve as chief financial
officer of the Company, effective May 10, 2021. Ms. Chen has deep
financial management expertise in the travel and hotel industries
in China. She was the chief financial officer of Cjia Group
Limited, a Huazhu affiliate company providing apartment services,
from March 2018 to February 2020. From 2014 to early 2016, Ms. Chen
served as Huazhu’s executive vice president of finance responsible
for internal financial management and chief financial officer. Her
previous work experiences also include chief financial officer of
Home Inns Group and finance director of Ctrip.com. Ms. Chen
received her master’s degree in management from Shanghai Jiaotong
University.
Mr. Dong Li, the chief accounting officer of the Company, and
Ms. Fei Ye, the vice president of strategic investment and capital
market of the Company, have been appointed to serve as deputy chief
financial officers of the Company, effective May 10, 2021. Mr. Dong
Li has served as chief accounting officer of Huazhu since June 2020
and chief financial officer of Huazhu China Region since December
2020. Before joining Huazhu, he was the financial planning and
analysis head of the Asia-Pacific, middle east and north Africa
regions of PepsiCo, Inc. Mr. Li received his MBA from Stern School
of Business of New York University. Ms. Fei Ye has served as
Huazhu’s vice president of strategic investment and capital market
since March 2016 and is in charge of Huazhu’s investment and
portfolio management globally. Over the years, she led the
acquisitions of Crystal Orange, Blossom House and Deutsche
Hospitality, and the formation of a China-focused hospitality
real-estate fund. Prior to joining Huazhu, she was a director of
CITIC Capital’s direct investment team. Ms. Ye received her
bachelor’s degree in finance from Shanghai Jiaotong University and
her MBA from Harvard Business School.
Mr. Qi Ji, the Company’s chairman and chief executive officer,
commented, “Teo has been a valued member of our management team and
has contributed significantly to the success of Huazhu’s business
over the past five years. As chief financial officer, Teo
championed company-wide efforts to achieve Huazhu’s strategic goals
and create shareholder value. On behalf of the Company and the
board, I would like to thank Teo for his contribution and service
to the Company and wish him every success in his future
endeavors.”
About Huazhu Group Limited
Originated in China, Huazhu Group Limited is a world-leading
hotel group. As of March 31, 2021, Huazhu operated 6,881 hotels
with 662,512 rooms in operation in 16 countries. Huazhu’s brands
include Hi Inn, Elan Hotel, HanTing Hotel, JI Hotel, Starway Hotel,
Orange Hotel, Crystal Orange Hotel, Manxin Hotel, Madison Hotel,
Joya Hotel, Blossom House, and Ni Hao Hotel. Upon the completion of
the acquisition of Deutsche Hospitality (“DH”) on January 2, 2020,
Huazhu added five brands to its portfolio, including Steigenberger
Hotels & Resorts, MAXX by Steigenberger, Jaz in the City,
IntercityHotel and Zleep Hotels. In addition, Huazhu also has the
rights as master franchisee for Mercure, Ibis and Ibis Styles, and
co-development rights for Grand Mercure and Novotel, in the
pan-China region.
Huazhu’s business includes leased and owned, manachised and
franchised models. Under the lease and ownership model, Huazhu
directly operates hotels typically located on leased or owned
properties. Under the manachise model, Huazhu manages manachised
hotels through the on-site hotel managers that Huazhu appoints, and
Huazhu collects fees from franchisees. Under the franchise model,
Huazhu provides training, reservations and support services to the
franchised hotels, and collects fees from franchisees but does not
appoint on-site hotel managers. Huazhu applies a consistent
standard and platform across all of its hotels. As of March 31,
2021, Huazhu operates 16 percent of its hotel rooms under lease and
ownership model, and 84 percent under manachise and franchise
models.
For more information, please visit Huazhu’s website:
http://ir.huazhu.com.
Safe Harbor Statement Under the U.S. Private Securities
Litigation Reform Act of 1995
The information in this release contains forward-looking
statements which involve risks and uncertainties. Such factors and
risks include our anticipated growth strategies; our future results
of operations and financial condition; economic conditions; the
regulatory environment; our ability to attract and retain customers
and leverage our brands; trends and competition in the lodging
industry; the expected growth of demand for lodging; and other
factors and risks detailed in our filings with the U.S. Securities
and Exchange Commission. Any statements contained herein that are
not statements of historical fact may be deemed to be
forward-looking statements, which may be identified by terminology
such as “may,” “should,” “will,” “expect,” “plan,” “intend,”
“anticipate,” “believe,” “estimate,” “predict,” “potential,”
“forecast,” “project” or “continue,” the negative of such terms or
other comparable terminology. Readers should not rely on
forward-looking statements as predictions of future events or
results.
Huazhu undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, unless required by applicable law.
Contact InformationHuazhu Investor RelationsTel: 86 (21) 6195
9561Email: ir@huazhu.comhttp://ir.huazhu.com
H World (NASDAQ:HTHT)
Historical Stock Chart
From Jun 2024 to Jul 2024
H World (NASDAQ:HTHT)
Historical Stock Chart
From Jul 2023 to Jul 2024