On The Move: Sunpower Group

Sunpower Group

Sunpower Group chief operating officer Shen Qiang has resigned for personal reasons, the mainboard-listed company announced last Friday after the market closed. Mr Shen, 43, had been COO since 2016 and was directly responsible for administration, human resources and Sunpower's US sales office. The company thanked Mr Shen for his contributions.

Chew's Group

Chew's Group has appointed Mr Chiu Joon Sun, 39, as an executive director and a member of the Catalist-listed company's nominating and risk committee from last Saturday. Mr Chiu will be responsible for the group's overall management, operations, strategic planning and expansion, and will head a proposed new business division.

He was previously director of wealth management at Nomura Singapore; associate director, private banking, at UBS Group; and vice-president, Private Banking Reserve, at United Overseas Bank.

Mitsubishi UFJ Financial Group

Mitsubishi UFJ Financial Group (MUFG) said last week that it has picked Mr Kanetsugu Mike, head of its core commercial banking unit, as its next president and chief executive as Japan's largest lender accelerates efforts to expand overseas.

He will also continue as chief of MUFG Bank, the commercial banking unit, while current CEO Nobuyuki Hirano will become chairman, the company said. The changes take effect in April.

Joining what is today's MUFG in 1979, Mr Mike, 62, has spent about half of his career outside Japan. He became CEO of MUFG Bank last year after his predecessor resigned suddenly on health grounds, reported Reuters. The company also said chief information officer Hironori Kamezawa will become deputy president.

Tesla

Tesla has appointed Mr Larry Ellison, executive chairman and founder of software giant Oracle, as well as a senior executive at Walgreens Boots Alliance, to its board, fulfilling a key provision of a deal with the US Securities and Exchange Commission (SEC). The board added Mr Ellison, who bought three million shares of Tesla stock earlier this year, and Ms Kathleen Wilson-Thompson, who is in charge of human resources at Walgreens Boots Alliance, as independent directors last Thursday.

In September, the SEC required Tesla to add two independent board members and an independent chairman to settle a securities fraud lawsuit the commission brought against the company and chief executive Elon Musk.

A version of this article appeared in the print edition of The Straits Times on December 31, 2018, with the headline 'On The Move'. Print Edition | Subscribe