Xiaomi has made key adjustments to its leadership in recent weeks but it is not done yet. Now, it has been reported that the tech giant is getting a new Chief Financial Officer.
The new CFO is an executive at Credit Suisse, Alain Lam, and he will be joining Xiaomi next month according to Bloomberg. Lam is currently the head of technology and media practice at Credit Suisse’s investment banking and capital markets group in Asia Pacific.
Xiaomi’s former CFO is Chew Shou Zi whose new role is as the President of International Operations. The appointment of Lam should help Xiaomi uncover new revenue streams especially from the several companies under its ecosystem. The new executive has also worked with Morgan Stanley and has more than 20 years of experience. He has also worked on over a 140 transactions with a value of more than $60 billion including the public listings of Alibaba Group Holding Ltd., Google, and Pinduoduo according to Bloomberg.
The source also reports that Credit Suisse has named Allan Chu as Mr. Lam’s replacement in an internal memo. However, both Xiaomi and Credit Suisse have refused to comment on the matter.
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