Recently, Shanghai Jahwa issued an announcement stating that Han Min has resigned from his positions as Deputy General Manager, Board Secretary, and all other roles within the company and its holding subsidiaries due to personal career development plans.
At the same time, Publicis Groupe China, the largest advertising and communications group in France, announced the appointment of former Shanghai Jahwa Chief Marketing Officer Mickey Zhang (Zhang Xiaojuan) as President of Publicis Media China. She officially joined the company’s executive committee on March 3.
The frequent executive changes within a short period reflect that Shanghai Jahwa is undergoing a profound transformation.
10-Year Veteran Steps Down, Witnessing Four CEO Successions
According to the announcement disclosed by Shanghai Jahwa, on February 28, 2025, Han Min resigned from her positions as Deputy General Manager, Board Secretary, and related roles due to career development plans. Her resignation took effect upon delivery to the Board of Directors. During the transition period, CFO Luo Yongtao will temporarily assume the role of Board Secretary.
The announcement also stated, “A new Board Secretary will be appointed as soon as possible in accordance with regulations. The company expresses its gratitude for Han Min’s contributions during her tenure.”
Public records show that Han Min, born in 1977, holds a Master’s degree in Finance from Nottingham University Business School in the UK and is a Certified Public Accountant in China. She previously served as Risk Control Manager at China Construction Bank’s Shanghai branch, Business Development Director at HSBC Holdings and HSBC Bank’s Corporate Banking Division, Deputy General Manager of the Investment Banking Department at China International Capital Corporation, and Board Secretary, Corporate Secretary, and Director at Shanghai Pharmaceuticals Holding Co., Ltd.
Han Min officially joined Shanghai Jahwa in August 2015 as Deputy General Manager and Board Secretary. On January 18, 2017, she was appointed as the company’s Chief Financial Officer (CFO). However, this role was taken over by Luo Yongtao in August 2024, after which she continued to serve as Deputy General Manager and Board Secretary.
It is worth noting that while it is common for Board Secretaries of publicly listed companies to also hold CFO responsibilities, Han Min was regarded as the first of her kind in the beauty industry.
(Credit:Han Min)
A well-known asset management executive commented, “A CFO-type Board Secretary carries multiple responsibilities. The CFO not only manages the company’s financial information but also participates in strategic planning and major decisions. Meanwhile, the Board Secretary handles information disclosure and investor relations, serving as a vital link between the company and investors.”
Undoubtedly, the role of a CFO-type Board Secretary demands exceptional capabilities. Han Min’s seven-year tenure in this position at Shanghai Jahwa is a testament to her professional expertise.
CHAILEEDO observed that Han Min’s last public appearance was in December of last year when she attended the “Top 10 Information Technology Awards in China’s Accounting Industry” event, hosted by the Shanghai National Accounting Institute’s Intelligent Finance Research Institute. At the event, she remarked, “The selection process should focus on small and medium-sized enterprises, ensuring practical application of the results through recommendations of specific technologies and suitable products.”
Additionally, at Shanghai Jahwa’s 125th-anniversary strategic conference, Han Min presented the company’s ESG strategy achievements. In 2022, Shanghai Jahwa’s MSCI ESG rating reached a historic high of BBB, placing it among the leaders in China’s beauty and personal care industry. Moreover, its Wind ESG rating improved from an A in 2021 to an AA, with a comprehensive ESG score of 8.57 (out of 10), ranking first in the industry.
Han Min also emphasized, “In terms of corporate governance, we have continuously promoted board diversity, enhanced ESG performance management, expanded the responsibilities of specialized committees, upheld internal compliance, prioritized investor protection, increased transparency in information disclosure, and improved the overall quality of disclosures. These efforts have strengthened our brand image in the capital market.”
Notably, during her ten-year tenure at Shanghai Jahwa, Han Min witnessed four CEO transitions: from Ge Wenyao’s “Brand First” strategy to Xie Wenjian’s aggressive reforms, followed by Zhang Dongfang’s steady management as a professional executive, then Pan Qiusheng’s push for digital transformation, and most recently, the appointment of Lin Xiaohai in 2024.
Without a doubt, Han Min was a core leader at Shanghai Jahwa, playing a crucial role in ESG performance management and enhancing the company’s image in the capital market. Regarding her resignation and future career plans, CHAILEEDO reached out to Han Min for an interview. She responded that she was not yet ready to comment, stating, “I will make an official announcement when I have a clear decision.”
Chief Marketing Officer Also Departs, New Board Office & PR Department Established
Coincidentally, Publicis Groupe China recently announced the appointment of Mickey Zhang (Zhang Xiaojuan) as President of Publicis Media China. She will be based in Shanghai starting March 3 and will report to Jane Lin-Baden, CEO of Publicis Groupe Asia Pacific & China. This appointment officially confirms Zhang’s departure from Shanghai Jahwa.
Before Publicis Groupe’s official announcement, media reports had already indicated that Shanghai Jahwa had recently issued multiple internal personnel appointments and organizational adjustments (hereinafter referred to as the “Notice”), which included the resignations of Board Secretary Han Min and Chief Marketing Officer (CMO) Mickey Zhang.
Public records show that Zhang previously held marketing roles at eBay and Google and served as Chief Digital Product and Services Officer at GroupM. She joined Shanghai Jahwa in 2021 as General Manager of the Beauty and Maternal & Infant Products Division and was promoted to Chief Marketing Officer in August 2024.
However, with her move to Publicis Groupe on March 3, her tenure as CMO of Shanghai Jahwa lasted just under seven months.
(Credit: Zhang Xiaojuan)
According to Publicis Groupe’s announcement, “Mickey Zhang has accumulated over 20 years of experience in brand building, media, strategic planning, and marketing. During her three-year tenure at Shanghai Jahwa, she implemented a series of strategic initiatives that significantly enhanced the company’s branding, operational efficiency, and sales performance. She was responsible for brand and marketing communications, product planning, channel management, e-commerce operations, and user experience.”
Additionally, the Notice disclosed by media reports stated that Shanghai Jahwa’s Public Relations Department will merge with the Board Office to form the new Board Office & PR Department. Liu Yan, formerly Senior Director of Public Relations & Communications, will lead the new department and report directly to CFO Luo Yongtao. Meanwhile, Lu Di, the former Director of the Board Office, will now report to Liu Yan.
To verify the authenticity of the Notice, CHAILEEDO reached out to a relevant Shanghai Jahwa representative, who confirmed that the information was accurate.
It is understood that Liu Yan joined Shanghai Jahwa shortly after Ping An Group became its controlling shareholder and has been with the company for over ten years. Previously, she served as Shanghai Brand Director at Ping An Group. Lu Di, on the other hand, has long served as Shanghai Jahwa’s Securities Affairs Representative.
Regarding the significance of the newly established Board Office & PR Department, Shen Meng, Director at Xiangsong Capital, commented, “Shanghai Jahwa has been experiencing prolonged weak performance, leading to a weakened media and investor image. Strengthening public relations efforts is necessary. This organizational restructuring is also a measure by the new CEO to enhance management control.”
Undoubtedly, the recent wave of executive departures and organizational restructuring at Shanghai Jahwa underscores its strong commitment to reform and strategic realignment.
Major Organizational Restructuring and Ongoing Talent Reshuffle
In fact, Shanghai Jahwa’s management and organizational restructuring had already begun before this year. Since Lin Xiaohai took over as CEO in June 2024, the company has undergone a comprehensive personnel and structural overhaul, essentially amounting to a complete “revamp.”
Among the first reform measures implemented by Lin Xiaohai was an adjustment to the organizational structure. Specifically, the “Personal Care and Home Cleaning Division” was streamlined into the “Personal Care Division,” the “Beauty & Skincare and Maternal & Infant Division” was consolidated and optimized into the “Beauty Division,” and a new “Innovation Division” was established. Additionally, to better align with market demands, the company introduced a new Shanghai Jahwa Brand and Marketing Department, modeled after Procter & Gamble’s core organizational structure.
Regarding senior management adjustments, in July 2024, Shanghai Jahwa appointed former Coty China General Manager Chen Min as the General Manager of the Beauty Division and named Qian Wei as the General Manager of the Innovation Division.
Meanwhile, there were also changes in brand director positions within the company: the brand director of Liushen was transferred to Qichu, the Qichu brand director moved to GF, and the Meijiajing brand director was reassigned to Jiaan. Additionally, Xu Xin, who has a background at Inoherb, was appointed as the Director of the Dr. Yu brand under the Beauty Division.
Furthermore, at the end of July last year, the departure of Ye Weimin, Vice President and General Manager of the Personal Care Division, marked a significant milestone in Shanghai Jahwa’s senior and mid-level management reshuffle. Ye Weimin had joined the company in 2014 and had witnessed four different CEOs during his tenure. After his departure, he will continue to serve as an external consultant for Shanghai Jahwa.
The frequent and large-scale personnel changes and structural adjustments may be closely linked to Shanghai Jahwa’s ongoing financial struggles.
An analysis by CHAILEEDO of Shanghai Jahwa’s financial performance over the past five years shows significant fluctuations: in terms of revenue, only 2021 saw growth, while all other years showed a decline; in terms of net profit, growth was recorded only in 2021 and 2023, with declines in other years.
Additionally, according to Shanghai Jahwa’s 2024 earnings forecast, the company’s net profit attributable to shareholders is expected to see a loss of between 710 million and 880 million yuan, with a single-quarter loss in Q4 reaching 873 million to 1.043 billion yuan—marking the worst loss since its public listing in 2001.
Although the restructuring aims to enhance market responsiveness and innovation, the effectiveness of these reforms remains to be seen in light of the company’s century-old transformation challenges and ongoing financial pressures. Whether Shanghai Jahwa can overcome its difficulties and return to a growth trajectory will not only depend on the success of its internal reforms but also on external market conditions and strategic adjustments. The company’s performance in the coming years will be the ultimate test of these reform measures.
