Xiaomi has appointed Shou Zi Chew as the Chief Financial Officer (CFO). He was a former partner at DST Investment Management Ltd, which has invested in several companies, including Xiaomi. Before joining DST in 2010, he worked at Goldman Sachs. Shou Zi will support tech innovation, ecosystem development and global expansion plans, said the company.
Xiaomi recently appointed Wang Xiang, former head of Qualcomm’s Chinese operations as the senior vice president of strategic cooperation. The company raised $1.1 billion funding last December from All-Stars Investment, DST, GIC, Hopu Fund and Yunfeng Capital among others.
It is gradually expanding its presence globally. It expanded to Brazil yesterday and will expand to Vietnam, Russia, Turkey and Mexico in coming months. Xiaomi sold 61.12 million smartphones in 2014 and aims to sell 100 million in 2015.
Regarding the appointment of of new CFO, chairman and CEO Lei Jun said:
I am very excited to welcome Shou Zi to Xiaomi. He was a successful investor with unique investment insights and financial skills, who recognized Xiaomi’s value early on and helped DST complete its investment in the company. I believe that with his appointment, Xiaomi’s finance and investment team will provide greater support to Xiaomi’s technical innovation, ecosystem development, and international expansion plans.
DST founder, Yuri Milner, said:
Shou Zi is a great colleague and friend, and we are grateful for his contributions over the years. Xiaomi is a very important startup company that we have been partners with since 2011. We believe that Shou Zi is fully qualified to become the CFO of the company. We wish Shou Zi the very best in his new role and look forward to remaining close partners with him and Xiaomi.