Business

China's 58.com Appoints First CFO

Chinese classified information website 58.com has revealed that Zhou Hao, the company's first chief financial officer, has started work.

According to 58.com, Zhou officially took office on June 21, 2011, and he will focus on the financial issues surrounding the Internet company. Zhou said compared with his previous experience, 58.com's business is new for him. However, there are similarities in financial work. He hopes to help the company with its operations, financial analysis management, decision making and operating efficiency.

Zhou previously worked for GE from 1998 and he was appointed Chinese financial director for GE Healthcare in 2007. In May 2009, he became CFO of Wuxi AppTec; and in 2010, he was CFO of CITIC Pharmaceutical Company.

Zhou is the first CFO of 58.com, and the placement is intended to be a preparatory move for its initial public offering. At the beginning of June 2011, the Chinese local media reported rumors that 58.com was prepping a Nasdaq push in the United States.

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