Dada Nexus Limited (NASDAQ: DADA, “Dada” or the “Company”), China’s
leading local on-demand delivery and retail platform, today
announced that its board of directors (the “Board”) has confirmed
the resignation of Mr. Philip Kuai as chairman of the Board and
chief executive officer, effective August 31, 2022. In addition,
the Board has named Mr. Huijian He as president to be responsible
for daily operation management and report to the Board, effective
immediately following Mr. Kuai’s retirement, and has appointed Mr.
He as a director of the Company. Furthermore, Mr. Lijun Xin was
appointed as a director of the Company and to succeed Mr. Philip
Kuai as chairman of the Board.
Mr. Lei Xu, Mr. Yui Yu, Ms. Sandy Ran Xu and Ms.
Bonnie Yi Zhang have each tendered resignation as a director of the
Company and, where applicable, as a member of any committee of the
Board, effective August 31, 2022. Effective the same date, Ms.
Laura Marie Butler and Ms. Jian Han have been appointed as
independent directors of the Company. The following table sets
forth the Board composition after the changes.
|
Audit Committee |
|
CompensationCommittee |
|
Nominating andCorporateGovernanceCommittee |
Lijun Xin (chairman of the Board) |
|
|
|
|
Member |
Huijian He |
|
|
Member |
|
|
Christina Xiaojing Zhu |
|
|
|
|
|
Baohong Sun (independent director) |
Member |
|
|
|
Chairperson |
Laura Marie Butler (independent director) |
Chairperson |
|
Member |
|
|
Jian Han (independent director) |
Member |
|
Chairperson |
|
Member |
Mr. Huijian He, also known as Jeff He, is a core
founding leader of JDDJ, the Company’s local on-demand retail
platform, since 2014, and has served as a vice president of the
Company since April 2018. He previously held several leadership
roles in JDDJ, including head of R&D and product development,
head of platform operations, and general manager, from March 2014.
Prior to that, Mr. He worked at IBM as a senior R&D manager
from 2006 to 2014. Mr. He obtained a bachelor’s degree in
electrical science and technology and a master’s degree in applied
computing technology from Beijing University of Posts and
Telecommunications.
Mr. Lijun Xin is chief executive officer of JD
Retail. Mr. Xin joined JD.com (NASDAQ: JD and HKEX: 9618) in 2012
and has held several key positions within JD.com. He pioneered the
integration of online retail and marketplace model in business
operation when he was head of the Apparel & Home business
department. Later on, he led the establishment of JD.com’s
healthcare business and was appointed as chief executive officer of
JD Health International Inc. (HKEX: 6618) in July 2019. Under the
leadership of Mr. Xin, JD Health was successfully listed on HKEX in
December 2020. Mr. Xin holds an EMBA degree from China Europe
International Business School and a bachelor’s degree of science in
electrical engineering and automation from Shanghai Jiao Tong
University.
Ms. Laura Butler has served on the Board of
Advisors and has been in charge of special projects for a private
consulting firm in the US since 2020. From 2004 to 2020, Ms. Butler
was a partner with PwC Zhong Tian LLP Beijing Office in their
capital markets and accounting advisory services group. She has led
and been part of project teams for over 70 capital market
transactions in the US, Chinese mainland and Hong Kong. From 2000
to 2004, Ms. Butler worked in PwC Zhong Tian LLP Beijing Office as
an audit senior manager. Prior to her extensive experience in
China, Ms. Butler has ten years of experience working with PwC US.
Ms. Butler holds a Bachelor of Business Administration degree in
accounting from the University of Wisconsin–Madison.
Ms. Jian Han is Professor of Management at China
Europe International Business School (CEIBS). Ms. Han joined CEIBS
in March 2008. Prior to that, Ms. Han joined Peking University in
March 2005, and worked as an assistant professor of management from
March 2005 to March 2008. Ms. Han received a bachelor’s degree in
British and American Literature from Renmin University of China and
a doctoral degree in Industrial and Labor Relation from Cornell
University. Ms. Han is a member of the Academy of Management. Since
2012, she has served on the expert councils of the World Economic
Forum (WEF).
“It's been an incredible eight-year journey and
I will be forever proud of the outstanding achievements of Dada,”
said Mr. Philip Kuai. “As I have put a lot preparation into the
succession plan as Dada gets mature, I believe this transition will
take Dada to the next chapter and we are now more ready than ever
before. Jeff’s critical contribution to our tremendous growth in
the past eight years and deepened collaboration with JD has
demonstrated his strategy execution and leadership capabilities and
won the trust and support from the team and the Board. I am also
thrilled to welcome Mr. Lijun Xin to join as chairman of the Board
of Dada. Under leadership of Jeff, Jun and Beck, with the
long-standing support from Lijun and JD.com, I look forward to the
continued strong partnership with JD to create more compelling
value for our shareholders and the society.”
“Philip is a great entrepreneur and an innovator
who has worked steadfastly to evolve Dada and position it for
continued growth,” said Mr. Jeff He. “I am honored to take on the
role of the president of Dada and would like to thank the Board for
the trust in me. I will continue sticking to our vision of bringing
people everything on demand, building our momentum, and focusing on
driving top and bottom-line results.”
“Under Philip's visionary leadership over the
past eight years, Dada has built a leading on-demand retail and
delivery infrastructure, created a massive number of flexible jobs,
and enabled the digitalization of the retail industry. With the
respectful understanding of Philip’s personal pursuit, I wish him
all the best in his next chapter,” said Mr. Lijun Xin, CEO of JD
Retail. “I am honored to join the board of Dada as Chairman, and
would like to thank Mr. Lei Xu, Mr. Yui Yu, Ms. Sandy Ran Xu and
Ms. Bonnie Yi Zhang for their invaluable contributions to the
success and growth of Dada. It’s a true privilege to welcome Ms.
Laura Butler and Ms. Jian Han to the Board, I believe their
professional experiences and broad international perspectives will
be greatly helpful to Dada’s future development. As a new type of
real economy-based enterprise, JD has been continuously investing
in building an integrated supply chain ecosystem. Dada’s capability
in local on-demand retail and delivery can help JD further extend
its supply chain and more efficiently meet consumers’ diversified
consumption needs across online, offline and multiple scenarios. I
believe Dada will further integrate with JD.com to build stronger
synergy, continue to implement high-quality growth strategy,
further improve operational efficiency, and join hands with JD.com
to promote the fusion of digitalization and brick-and-mortar
retail.”
About Dada
Dada is a leading platform of local on-demand
retail and delivery in China. It operates JDDJ, one of China’s
largest local on-demand retail platforms for retailers and brand
owners, and Dada Now, a leading local on-demand delivery platform
open to merchants and individual senders across various industries
and product categories. The Company’s two platforms are
inter-connected and mutually beneficial. The Dada Now platform
enables improved delivery experience for participants on the JDDJ
platform through its readily accessible fulfillment solutions and
strong on-demand delivery infrastructure. Meanwhile, the vast
volume of on-demand delivery orders from the JDDJ platform
increases order volume and density for the Dada Now platform.
For more information, please visit
https://ir.imdada.cn/.
Forward-Looking Statements
This press release contains statements that may
constitute “forward-looking” statements pursuant to the “safe
harbor” provisions of the U.S. Private Securities Litigation Reform
Act of 1995. These forward-looking statements can be identified by
terminology such as “will,” “expects,” “anticipates,” “aims,”
“future,” “intends,” “plans,” “believes,” “estimates,” “likely to”
and similar statements. Among other things, quotations in this
announcement, contain forward-looking statements. Dada may also
make written or oral forward-looking statements in its periodic
reports to the U.S. Securities and Exchange Commission (the “SEC”),
in its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not
historical facts, including statements about Dada’s beliefs, plans
and expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not
limited to the following: Dada’s strategies; Dada’s future business
development, financial condition and results of operations; Dada’s
ability to maintain its relationship with major strategic
investors; its ability to provide efficient on-demand delivery
services and offer quality on-demand retail experience; its ability
to maintain and enhance the recognition and reputation of its
brands; general economic and business conditions globally and in
China and assumptions underlying or related to any of the
foregoing. Further information regarding these and other risks is
included in Dada’s filings with the SEC. All information provided
in this press release is as of the date of this press release, and
Dada does not undertake any obligation to update any
forward-looking statement, except as required under applicable
law.
For investor inquiries, please
contact:
Dada Nexus LimitedMs. Caroline DongE-mail:
ir@imdada.cn
Christensen
In ChinaMr. Rene VanguestainePhone: +86-178-1749
0483E-mail: rvanguestaine@christensenir.com
In USMs. Linda BergkampPhone:
+1-480-614-3004E-mail: lbergkamp@christensenir.com
For media inquiries, please
contact:
Dada Nexus LimitedE-mail: PR@imdada.cn
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