On the evening of June 21st,$HAIDILAO (06862.HK)$announced that Yang Lijuan resigned as the company's executive director and CEO, and Gou Yiqun was appointed as the company's executive director and CEO. The announcement showed that the above executive changes will take effect on July 1, 2024.

On the same day,$Super Hi International Holding (HDL.US)$/$SUPER HI (09658.HK)$announced that Yang Lijuan has been appointed as the company's executive director and CEO, mainly responsible for managing and developing the company's global strategy. The appointment will take effect on July 1, 2024.

It is worth mentioning that after taking over as CEO of Haidilao in 2021 with a loss of more than 4 billion yuan, Yang Lijuan successfully helped Haidilao achieve a turnaround in 2022 and a net income of 4.495 billion yuan in 2023. As an important brand for Haidilao's overseas development, TSG International reported a loss of 4.5 million US dollars in the first quarter, and it is worth paying attention to how the 'best waitress' Yang Lijuan will help TSG International achieve profitability.

The new CEO will promote entrepreneurship, innovation, and digital development.

In the announcement, Haidilao stated that Gou Yiqun has been a key member of Haidilao since January 2000 and has more than 24 years of industry and management experience.

It is reported that during Gou Yiqun's tenure at Haidilao, he served as Chief Financial Officer, Information Technology Director, and Supply Chain and Procurement Manager. Before being appointed as Haidilao's CEO, Gou Yiqun was the Vice President of Haidilao and was responsible for investment business.

According to the announcement, under Gou Yiqun's leadership, Haidilao has established two core institutions: the Entrepreneurship and Innovation Committee and the Digital Operation Committee. The Entrepreneurship and Innovation Committee is mainly responsible for developing new innovation models and incentive mechanisms, promoting Haidilao's development towards multi-level, multi-category direction, and laying the foundation for the company's diversified business model. The Digital Operation Committee will leverage advanced technologies such as artificial intelligence to improve management efficiency and support the implementation of operating models such as managing multiple stores and dual-managing stores.

At a previous shareholder meeting of Haidilao, Chairman of the Board Zhang Yong explicitly stated that the advancement of new technology has a profound impact on the catering industry. He believes that in the future, Haidilao needs to pay more attention to innovation and digital development in order to respond to changes and challenges in the market. 'In the future, Haidilao will also consider multi-category and multi-level development. We hope that Haidilao store managers will become managers of multiple stores. There can be many levels in the hotpot category, such as street hotpot other than Haidilao hotpot, and other formats such as barbecue and noodle restaurants outside the hotpot category. One store manager can manage multiple stores in the future, and resources can be shared.'

Regarding innovation, Zhang Yong also stated that the company has made many attempts at new businesses and new brands internally, and the enthusiasm for innovation is high. 'We adhere to one principle, willing to pay the cost to encourage innovation and not afraid of failure. We provide weak supervision for innovation to ensure that everyone's innovation has the opportunity to land and not make innovation difficult.'

This personnel change and strategic realignment is a positive response from Haidilao to Zhang Yong's view.

Yang Lijuan returns to the overseas 'tough market'

At the same time, Yang Lijuan's departure and joining of TSG International have attracted widespread attention.

In May of this year, TSG International was double-listed on NASDAQ in the United States, raising $52.7 million. According to the recent financial report, the operating income of the restaurant in the first quarter of 2024 was US$188 million, a year-on-year increase of 15.7% compared to US$156 million in the same period of 2023. During the period, the loss was US$4.5 million, while the income in the same period of 2023 was $5.6 million.

As a senior executive at Haidilao and leader of the 'Woodpecker Plan', Yang Lijuan successfully led the company out of its operating difficulties during her tenure and made profound changes in institutionalized management, process-oriented operations, and digital assessments. Her joining will bring new development opportunities and challenges to TSG International.

Public information shows that Yang Lijuan joined Haidilao in 1995, starting from the position of waitress, and has held various positions such as team leader, store manager, district manager, and regional manager. In January 2018, she was appointed Chief Operating Officer of Haidilao, mainly responsible for overseeing Haidilao's operation. Since August 2021, she has served as executive director and deputy CEO of Haidilao.

On March 1, 2022, Yang Lijuan was officially appointed as CEO of Haidilao, leading the company to return to profit in 2022 and achieve a net income of 4.495 billion yuan in 2023.

Against the background of the trend of Chinese catering going global, Yang Lijuan was appointed as CEO of Haidilao International to fight the tough overseas market.

According to the announcement of her appointment by Haidilao International, Yang Lijuan once led the brand's strategy in going overseas, and successfully established presence in Singapore and the United States in 2012 and 2013 respectively, laying the foundation for the group's current operations in international markets.

During the pandemic, Yang Lijuan successfully implemented the "Woodpecker Plan" and the "Tough Nut Plan", guided Haidilao out of the operating difficulties, and made profound changes in institutionalized management, process-oriented operations, and digitized assessments, establishing a solid management foundation and sustainable growth in Haidilao.

According to Haidilao International, the current international market presents both challenges and opportunities. The Board of Directors believes that Yang Lijuan can lead the group to further improve its management capabilities and operational standards and expand the customer base in the international market, and explore new markets and opportunities in a deeper way.

Edited by Jeffrey