WAL-MART acquisition of the remaining 1 stake in the realization of a wholly owned subsidiary of
[TechWeb] July 23rd news, WAL-MART today announced that it has acquired 1 of China’s electricity supplier circulation shares, will have the full ownership of the company. Wang Lu, President of WAL-MART’s global e-commerce Asia will take charge of shop 1.
WAL-MART has had 1 store nearly 51% of the shares, from the financial services group Chinese peace and shop 1, co-founder and former chairman Yu Gang and former chief executive Liu Junling bought the remaining shares. The two founders in the earlier this month announced that they decided to leave the shop No. 1, Yu Gang and Liu Junling respectively as honorary chairman and strategic management consultants to ensure a smooth transition and to continue to shop 1, the future development of output.
is reported that the 1 store will continue to operate with the existing name, and will continue to maintain the local leadership team. Shop 1 and China Ping An will also continue to maintain business relationships, including joint marketing collaboration.
data show that Wang Lu joined WAL-MART in the global electronic commerce, was responsible for the interactive business management Cbs Broadcasting Inc in America China, including information technology, automotive, fashion and lifestyle in different MS business. Prior to this, he served as senior vice president of CNET science and technology information network, responsible for business development China, leading Zhongguancun online, love card car, women history and other market leading websites. Ziff-Davis media group has also been responsible for business development in china. (Zhou Xiaobai)