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Formally with AS Watson as the Group Managing Director for 25 years, Mr.Ian Wade managed one of the world's largest and fastest growing global retailcompanies, with over 7,700 stores in 37 countries. During his tenure at ASWatson, he turned the Hong Kong based business, which then had 16 stores, intoa highly profitable, international retail chain with extensive reachthroughout Asia and Europe. Under his leadership, Watson opened 270 stores inmainland China and 400 stores in Taiwan, and launched groundbreakinghypermarkets in mainland China. In addition, Mr. Wade also managed Watson'sretail operations and private label businesses in many countries in Europe.
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Mr. William Weili Dai brings to Nepstar over 15 years of experience infinancial management and accounting. Prior to joining Nepstar, Mr. Dai was thechief financial officer of MicroPort Medical, a leading medical device companyin China. From 1996 to 2006, Mr. Dai served as finance manager in charge ofChina operations for three leading global companies, MundipharmaPharmaceuticals, Boston Scientific and Case Corporation. During his tenure atMundipharma and Boston Scientific, he was involved in multiple strategic M&Aand business development projects in China. Mr. Dai began his financialmanagement career with Ford Motor Company in Michigan in 1993 as financialanalyst and later became the component department controller and then theassistant to the CFO of Ford's joint venture in China. Mr. Dai received hisMBA from Michigan State University and his BA from Shanghai University.
"We are excited to welcome Mr. Wade and Mr. Dai to our management team.With their breadth of experience, we are confident that they will be valuablecontributors to Nepstar," commented Mr. Simin Zhang, Chairman of China Nepstar.
Mr. Jiannong Qian, Co-Chief Executive Officer, will continue to focus onnew business development, acquisitions and partnership development, while Mr.Wade will focus on maximizing operating efficiencies and profitable growth.Upon the appointment of Mr. Dai, Mr. Zixin Shao, the interim Chief FinancialOfficer, will resume his role as financial controller.
About China Nepstar Chain Drugstore Ltd.
China Nepstar Chain Drugstore Ltd. (NYSE: NPD) is China's largest retaildrugstore chain based on the number of directly operated stores. As ofSeptember 30, 2008, the Company had 2,667 stores across 76 cities, oneheadquarters distribution center and 11 regional distribution centers in China.Nepstar uses directly operated stores, centralized procurement and a networkof distribution centers to provide its customers with high-quality,professional and convenient pharmacy services and a wide variety of othermerchandise, including OTC drugs, nutritional supplements, herbal products,personal care products, family care products, and convenience productsincluding consumables. Nepstar's strategy of centralized procurement,competitive pricing, customer loyalty programs and private label offerings hasenabled it to capitalize on the robust economic growth in China and to takeadvantage of the demographic trend in China to achieve a strong brand andleading market position. For further information, please go tohttp://www.nepstar.cn .
Safe Harbor Statement
This press release contains forward-looking statements. These statementsconstitute "forward-looking" statements within the meaning of Section 27A ofthe Securities Act of 1933, as amended, and Section 21E of the SecuritiesExchange Act of 1934, as amended, and as defined in the U.S. PrivateSecurities Litigation Reform Act of 1995. These forward-looking statementscan be identified by terminology such as "will," "expects," "anticipates,""future," "intends," "plans," "believes," "estimates" and similar statements.Among other things, the quotations from management in this press release andthe Company's strategic operational plans, contain forward-looking statements.Such statements involve certain risks and uncertainties that could causeactual results to differ materially from those in the forward-lookingstatements. Further information regarding these and other risks is included inthe Company's filings with the U.S. Securities and Exchange Commission,including its annual report on Form 20-F. The Company does not undertake anyobligation to update any forward-looking statement as a result of newinformation, future events or otherwise, except as required under applicablelaw.For more information, please contact: In China: Lucia Qian China Nepstar Chain Drugstore Ltd. Marketing and IR Director Phone: +86-755-2641-4065 Email: [email protected] In the United States: Dixon Chen Grayling Global Investor Relations Tel: +1-646-284-9403 Email: [email protected] Ivette Almeida Grayling Global Media Relations Tel: +1-646-284-9455 Email: [email protected]
SOURCE China Nepstar Chain Drugstore Ltd.
