Best Buy has named Redmond Yeung to head up its Asian business. Mr. Yeung will take over the newly created position of president and chief operating officer of Best Buy Asia and be responsible for overseeing the division's retailing businesses in the region along with the company's global sourcing office in China.
Robert Willett, chief executive of Best Buy International, called Mr. Yeung "an exceptional leader with the vision, global experience and deep retail knowledge to help us create great experiences and relationships with our customers in China. He has achieved an extraordinary track record of success in growing and delivering superior operating results in highly competitive markets while always focused on serving the needs of customers."
Mr. Yeung joins Best Buy from Ports Design Limited, the largest upscale fashion retailer in China.
"Best Buy is just beginning to understand what it means to be part of the Chinese retail landscape. We are building our presence in a deliberately careful and controlled manner and have a desire to learn from others who have gone before," said Mr. Willett.
Discussion Questions: What are the challenges retailers from outside the continent face as they look to formulate strategies to expand throughout Asia? What types of leaders are needed to succeed in the developing markets of nations such as China and India? What do you make of Best Buy's decision to include oversight of the company's global sourcing office in China among Redmond Yeung's duties?