Lord Alley Appointed President of Marwyn Acquisition Company
Lord Waheed Ali, the former head of children’s media group Chorion and online fashion retailer Koovs, has stepped up as president of Marwyn Acquisition Company (MAC), a listed company targeting acquisitions in the creative industries.
According to Sky News, the co-worker’s appointment, which comes as the company seeks shareholder approval to be renamed 450 plc, will build on his past experience identifying companies with “capital constraints that were poised for expansion”. Lord Alley, the former head of online fashion and cosmetics retailer Asos, has had a long and successful career in the media industry, beginning with co-founding Planet 24, the production company behind The Big Breakfast and The Word and Survivor.
After selling Planet 24 to Carlton Productions – now known as ITV Studios – in 1999, Lord Alley co-founded another television production company, Shine, and Chorion Chair, which had a portfolio of brands including Paddington Bear and Peter Rabbit and owns Mr. Main is the property rights of Agatha Christie, Raymond Chandler and George Simenon.
He later founded Silvergate Media, which went on to acquire the intellectual property and distribution rights to popular children’s show Octonauts, before selling the company to Silvergate to Sony in 2019.
The role of the new Lord Alley, who previously oversaw the acquisitions of Advanced Computer Software, BCA Marketplace, Breedon Aggregates, and Entertainment One, is in line with Al Mutawa and Al Qadi’s “ongoing investment strategy to seek acquisition opportunities in the financial services, consumer and technology sectors”.
Three Executive Board Members To Lead Red Bull After Dietrich Mateschitz’s Death
After Dietrich Mateschitz died of pancreatic cancer in October, Red Bull announced that a three-member board of directors would be appointed to continue managing the energy drink giant.
While Mark Mechitz’s only son inherits his father’s estimated fortune of $25 billion, Franz Watzlawick, Alexander Kirchmeier and Oliver Mintslav are named to the board of directors.
“As suggested and desired by both my parents and I, and with the support of our Thai partners, the Board of Directors will manage the commercial affairs of Red Bull,” Mark Mateschitz confirmed in a statement.
Watzlawick will be CEO of the Beverage Division, Kirchmayer is Chief Financial Officer and Mintzlaff is CEO of Corporate Ventures and Investments.
In the statement, Marc Mateschitz described the trio as a “dream team”.
“I’m very happy they’re going to take on this job,” he said after confirming he would be stepping down from his role on the Red Bull Wings for Life board of directors, to manage a 49% stake in the company he inherited from. His father.
Dietrich Mateschitz founded Red Bull in the 1980s with Thai entrepreneur Shaliu Yuvidhya, who created the energy drink Krating Daeng that was later turned into Red Bull. The company now employs nearly 13,000 people in 172 countries with annual revenue of eight billion euros and nearly 10 billion cans sold annually.
Wu Yajun is stepping down as president of real estate developer Longfor
The billionaire co-founder of Chinese real estate developer Longfor Properties, Wu Yajun, has officially resigned as chairman in the wake of an industry-wide crisis that sent the company’s shares down as much as 38%.
The 58-year-old business leader and former journalist, who was once the world’s richest self-made woman, announced her decision to leave due to age and health reasons, but emphasized that she would “continue to advise the company on strategic development.”
40-year-old Chen Xuping, who joined the company in 2008 as a construction manager, has been announced as Wu Yajun’s successor.
The real estate industry in China is going through a major crisis with house prices falling for 13 consecutive months and buyer confidence at an all-time low. Despite this, Longfor is in a stronger position than competitors such as the now faltering China Evergrande Group.
“Longfor is experiencing management changes when the industry is going through a lot of difficulties,” Kenny Ng, a Hong Kong-based securities analyst, told Forbes. “Investors are concerned about how to deal with the challenges.”
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