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Bonjour CEO quits, replacement named

Bonjour CEO Cheung Ka Fai has resigned after less than two months in the role, citing “personal career development”.

He has been replaced by Wong Iu Ming.

In a statement to the stock exchange the struggling apparel chain confirmed there was “no disagreement with the board” or other matter relating to the resignation that should be brought to the attention of shareholders. 

In May, the husband-and-wife founders of the beauty-products retailer, Dr Wilson Ip Chun Heng and Chung Pui Wan, stepped down from their roles as chairman and CEO, and vice chairman, respectively. Cheung stepped up from CFO to CEO.

Ming, 65, is currently executive director and deputy CEO of Haifu International Finance Holding Group and holds directorships of Global Leather Intelligence, China Leather Intelligence, Innogy Global, Haifu China Petrochemical Group. He is a past GM of the Internal Audit of Urban Renewal Authority. 

He also has experience in risk controls, finance and administration, and the internal audit of both large Hong Kong public bodies and multinational conglomerates.

Previous Bonjour CEO Cheung, 45, has been with Bonjour since August 2012 and has more than 20 years’ experience in audit, finance and business advisory.

In March, Bonjour Holdings reported a sales decrease of 18.7 per cent for the 2019 fiscal year, following a 7.3-per-cent decline in 2018. The company’s annual loss attributable to shareholders ballooned from US$5.1 million in 2018 to $16.7 million last year. 

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