The former chief financial officer of US fast food giant McDonald’s China arm is now working for Chagee and will help spearhead the rapidly growing Chinese new-style tea chain’s initial public offering, financial news outlet Huxiu reported today.
Huang Hongfei joined Chagee as chief financial officer shortly after departing McDonald’s China in October, the report said, citing people familiar with the matter.
Chagee is at a critical point in its business expansion, and is revamping its store operation model, supply chain and digital system, the source said.
Founder and Chief Executive Officer Zhang Junjie has recruited nearly a dozen mid- and senior-level managers from big-name restaurant chains in the past year, the person said. Zhang also took on the role of independent director at hotpot giant Haidilao in August to learn from its successful experience…
