SunMoon Food taps Alibaba-tied YiGuo CEO Zhang Ye as its new CEO

China yuan coins

SunMoon Food tapped Zhang Ye, who is currently CEO of Alibaba-tied YiGuo, to replace Gary Loh Hock Chuan, age 51, as its CEO, effective on Monday, the distributor of fruits and vegetables said in an SGX filing on Monday.

It noted Zhang, age 47, founded Enmore Group, a business-to-business commodity company, and was the co-founder, chairman and CEO of YiGuo Group, a fresh-food supply chain platform in China, since 2007.

YiGuo is the centralized fresh food procurement platform of Chinese internet giant Alibaba group, where it operates the fresh food division of the TMALL Supermarket, it said.

Shanghai Yiguo E-Commerce, which owns YiGuo, holds 56.2 percent of SunMoon, according to SGX data.

Gary Loh, SunMoon’s executive vice chairman, pointed to Zhang’s experience as the company begins to transition to an asset-light model.

“SunMoon is well positioned for its next growth phase, and we believe that Mr. Zhang’s immense experience in both the B2B and B2C spheres in e-commerce would be a boost to the leadership team going forward,” Loh said in the statement filed to SGX.

SunMoon also pointed to Zhang’s personality in the filing.

“Zhang Ye is a man with integrity and trustworthiness,” SunMoon said in the filing. “Zhang Ye has the acute instincts and keen senses on business. He is very good at capturing any opportunities.”

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