China Nepstar Chain Drugstore Ltd. announced Friday that the company’s CEO, Fuxiang Zhang, has resigned for personal reasons.
Fuxiang Zhang’s resignation is effective immediately.
The Nepstar board of directors has appointed Rebecca Yingnan Zhang as the new CEO and director of the Chinese company, effective immediately.
"On behalf of the board of directors, we thank Fuxiang for his many years of contribution to our growth,” Simin Zhang, chairman of Nepstar, said. “We remain confident in the growth prospect of Nepstar and look forward to a new stage of our business under the leadership of Rebecca. We believe that she will be an indispensable asset of the company in her new roles.”
Yingnan Zhang has more than 20 years of experience in the pharmaceutical industry and has been with Nepstar since March 1999. Yingnan Zhang was appointed chief operating officer of Nepstar in Nov. 2014.
Prior to being chief operating officer, she was executive vice president in charge of procurement, merchandising, logistics and quality departments, serving as head of the procurement department. Yingnan Zhang earned a bachelor's degree in microbiological pharmaceuticals at Shenyang Pharmaceutical University.
Nepstar is a leading drugstore in China, with 1,969 operated stores across 74 cities, a headquarter distribution center and 15 regional distribution centers.