News Snapshot:
BEIJING (Reuters) – China’s Haidilao, which operates a chain of hotpot restaurants, said its billionaire founder Zhang Yong has stepped down as CEO and will shift his focus to long-term strategy planning. The move, which comes amid efforts by Haidilao to slash store numbers, has seen Yang Lijuan, 43, formerly deputy CEO and chief operating officer, take the helm as of March 1. Li Yu, 36, was named COO of its mainland China operations while Wang Jinping, 38, was appointed COO of its operations in Hong Kong, Macau, Taiwan and overseas. Citi analysts said in a research note the appointments...
