U.S.-based Best Buy has confirmed that it will appoint Yang Deming, president and COO for Best Buy Asia, as president of its newly acquired Jiangsu Five Star Appliance in China.
Best Buy says it will complete the acquisition of all remaining shares of Five Star Appliance and the new management team of Five Star Appliance will be formed by senior executives both from Best Buy and Five Star Appliance.
At the same time, Best Buy confirms that Wang Jianguo, founder and president of Five Star Appliance, will depart from the company. Zheng Tianhe will be CEO of Five Star Appliance while Wang Jian, current vice executive president of Five Star Appliance, will be appointed vice president for Best Buy China and retail president for Five Star Appliance.
