Mark Lee New CEO Declares Emergency Management System
"No Connection to Settlement Delays or Business" Scapegoating
Qxpress, a logistics subsidiary of Qoo10 based in Singapore, drew a clear line stating it is not directly related to the delayed settlements involving Tmon and Wemakeprice, following the resignation of CEO Koo Young-bae.
On the morning of the 27th, Qxpress issued a press release announcing, "Mark Lee, the newly appointed CEO of the headquarters, declared the immediate launch of an emergency management system upon taking office."
The board of directors at Qxpress Singapore headquarters announced the resignation of CEO Koo Young-bae the day before and appointed Mark Lee, the Chief Financial Officer (CFO), as his successor. CEO Koo is the largest shareholder and representative director of Qoo10.
Qxpress explained, "Mark Lee, a capital markets and financial regulation expert lawyer as well as a cross-border transaction specialist, was appointed as the new CEO to ensure independent and stable operations from Qoo10 affiliates' business situations while expanding global growth."
CEO Mark Lee stated, "With the mindset of a fresh start, I will actively communicate with employees and customers and walk the path of responsible management where everyone can prosper together."
He further asserted, "The delayed settlement issues involving Qoo10 group affiliates are not directly related to Qxpress's business, and the impact is very minimal."
He added, "However, we view the current situation very seriously and plan to concentrate all capabilities and provide full support at the company-wide level to continuously offer the best service to our seller customers."
He also said, "We have reduced the proportion of logistics volume from Qoo10 affiliates such as Tmon and Wemakeprice and increased overseas volumes focused on Southeast Asian e-commerce to about 90% of the total. Going forward, we will strengthen our global market dominance in North America, Europe, and other regions, expand high value-added businesses, and compete in the global market."
Qxpress stated, "Our shareholders are providing strong support. They plan to actively support Qxpress to achieve management stabilization and global growth with a solid financial status."
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