Chinese electronics and home appliances retailer Gome has announced that Chen Xiao, chairman and president of Gome, will no longer hold the position of president and the position is now given to Wang Junzhou, former executive director and executive vice president of the company.

Prior to this, Chen announced a five-year strategic plan for Gome. According to the plan, by 2014, Gome will have 2,000 retail stores and a sales scale of CNY180 billion, of which 25% will be contributed by customized products and over 50% will be contributed by 3C and home appliances products. In addition, the scale of its e-commerce business will reach CNY15 billion, accounting for 15% of the Chinese Internet shopping market.

This new personnel adjustment is reportedly for the better implementation of the strategic plan.

Chen was appointed president of Gome on November 31, 2006. In 2008, he replaced Huang Guangyu, who was under investigation for financial crimes, as chairman and took the management responsibility with the decision-making teams of Gome.

Wang became executive vice president for Gome in November 2006 and was appointed executive director on December 23, 2008. He previously assisted Chen in the daily management of Gome, including the planning of Gome's long-term strategy, the formulation of annual budget, and the standardization of various systems and processes.