(Yicai) May 15 -- Jahwa United has appointed a former executive of Chinese e-commerce giant Alibaba Group Holding as its new chairman and chief executive officer, after the company was dethroned last year as China’s biggest homegrown beauty brand.

Lin Xiaohai will assume the positions of CEO and general manager from June and become the recommended candidate for chairman at the upcoming shareholders meeting, the Shanghai-based Jahwa announced yesterday.

Revenue at Jahwa fell 7 percent to CNY6.6 billion (USd914 million) in the 12 months ended Dec. 31, as the company closed 82 physical counters and outlets, with online sales accounting for 57 percent of its total income.

Hangzhou-based competitor Proya Cosmetics had record annual revenue of CNY8.9 billion thanks to a 43 percent surge in its online sales to CNY8.3 billion, making up over 90 percent of the firm’s income. Proya sells though major e-commerce sites Tmall and JD.Com, as well as Douyin, the Chinese version of TikTok.

Born in 1971, Lin was vice president of Alibaba and GM for offline retail shops at Alibaba's LST, a one-stop shopping platform under 1688.Com, between 2016 and 2020. Afterward, he was named executive director and CEO of Alibaba's Sun Art Retail Group. Before Alibaba, Lin worked at Procter & Gamble for 20 years.

Pan Qiusheng, who took office in 2020, yesterday resigned as director and chairman of Jahwa effective immediately and as CEO and GM effective May 31 for personal reasons, Jahwa said. Before joining the firm, Pan held senior positions at the Chinese units of French cosmetics giant L'Oréal and US toy maker Mattel. 

Pan was Jahwa’s third manager appointed by the company’s controlling shareholder Ping An. Shenzhen-based financial giant Ping An became Jahwa’s actual controller in 2011.

Editors: Tang Shihua, Futura Costaglione