Best Buy appoints new China CEO

Best Buy has named Meng Zhou as its new CEO for China, running its Five Star operation there.

Prior to the appointment, Zhou has served as CEO of Central Retail Group for China and EVP of China Paradise Electrical.

“Five Star has built a strong presence in the world’s largest and rapidly growing consumer electronics market,” Zhou said in a statement.

“Our business has great opportunities, and we are determined to drive our performance by meeting the changing needs of our customers.”

Having sold its European business, market analysts expected Best Buy CEO Hubert Joly to sell its Five Star operations too.

However, Laura Kennedy, an analyst at Kantar Retail, says the new appointment suggests Best Buy wants to keep its foothold there and realise further potential.

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