SHENZHEN, China, June 2 /PRNewswire-Asia/ -- China Nepstar Chain Drugstore Ltd. (NYSE: NPD) ("China Nepstar" or the "Company"), the largest drugstore chain in China based on the number of directly operated stores, today announced the appointment of Mr. Jason (Xinghua) Wu as the Chief Operating Officer. Mr. Wu will be responsible for the Company’s operations, overseeing procurement, logistics, store development and store operations. He will report directly to Co-Chief Executive Officer Ian Wade and Co-Chief Executive Officer Jiannong Qian.
Mr. Wu joined Nepstar in July 2008. Since then he has been working as the vice general manager of the Company’s Guangzhou branch, the regional general manager in charge of the Company’s North China Region and was promoted to vice president of operations in March this year due to his outstanding performance.
Before joining China Nepstar, Mr. Wu held senior management positions at various FMCG (fast moving consumer goods) companies. From 2002 to early 2008, he was the CEO of Beijing Yiming Group, a private company specializing in food distribution, nutrient manufacturing, and convenience store operations. Prior to joining Beijing Yiming, Mr. Wu served as the divisional marketing director of Four Seas Group, a food manufacturing, trading and distribution company. Jason received his master’s degree in management from the Northeastern University of China in 1999.
Mr. Ian Wade, Co-Chief Executive Officer of China Nepstar, commented, "Jason has a solid track record and we are very pleased to have him joining the senior corporate team. We have confidence that his success will extend to many different departments within China Nepstar. We are actively augmenting our senior management team with talented executives through both external recruitment and internal promotion."
About China Nepstar Chain Drugstore Ltd.
China Nepstar Chain Drugstore Ltd. (NYSE: NPD) is China’s largest retail drugstore chain based on the number of directly operated stores. As of March 31, 2009, the Company had 2,336 stores across 63 cities and 40% equity in the 361 stores of its affiliate in Yunnan province, one headquarter distribution center and 12 regional distribution centers in China. Nepstar uses directly operated stores, centralized procurement and a network of distribution centers to provide its customers with high-quality, professional and convenient pharmacy services and a wide variety of other merchandise, including OTC drugs, nutritional supplements, herbal products, personal care products, family care products, and convenience products including consumables. Nepstar’s strategy of centralized procurement, competitive pricing, customer loyalty programs and private label offerings has enabled it to capitalize on the robust economic growth in China and to take advantage of the demographic trend in China to achieve a strong brand and leading market position. For further information, please go to http://www.nepstar.cn .
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can 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 and the Company’s strategic operational plans, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in the Company’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
For more information, please contact:
In China:
Lucia Qian
Marketing and IR Director
China Nepstar Chain Drugstore Ltd.
Phone: +86-755-2641-4065
Email: qianrt@nepstar.cn
In the United States:
Dixon Chen
Investor Relations
Grayling
Phone: +1-646-284-9403
Email: Dixon.chen@us.grayling.com
Ivette Almeida
Media Relations
Grayling
Tel: +1-646-284-9455
Email: Ivette.almeida@us.grayling.com
