Both Jumei Co-Chief Financial Officers stand down

Mona Meng Gao and Yunsheng Zheng resign from positions for “personal reasons”

Jumei has announced that its two Co-Chief Financial Officers are standing down. Both Mona Meng Gao and Yunsheng Zheng have resigned, citing “personal reasons”.

Gao left Jumei on 1 April 2016, while Zheng will leave in June later this year.

Gao joined Jumei in December 2013, serving as Chief Strategist before being appointed Co-Chief Financial Officer in April 2014. She previously worked as a Senior Investment Analyst at Yiheng Capital and as a Consultant at Bain & Company. She also previously held management positions at P&G and Barclays in the UK.

Zheng was also appointed Co-Chief Financial Officer in April 2014. He previously acted as President of Finance after joining the company in June 2012. Prior to that, he acted as the Head of Finance Function for new business initiatives at Nanjing FullShare Group – a private Chinese conglomerate. He has also was the Chief Financial Officer at BlueStar SecuTech and held a number of senior management positions at accounting firms.

Leo Ou Chen, Founder, Chairman and CEO at Jumei, commented: “We greatly appreciate the contributions Yunsheng and Mona made during their tenures at the Company. We respect their decisions and wish them the very best in their future pursuits.”

Jumei is China’s leading beauty retailer, currently accounting for a 50% share of the cosmetics market in the country. However, shares in the business have slumped around 30% in the past three months amid increasing competition from Alibaba and JD.com.

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