Li & Fung appoints Spencer Fung as Executive Chairman and Joseph Phi as new Group CEO
Li & Fung Limited (“Li & Fung,” “the Group,” or “the Company;”), the world’s leading supply chain solutions partner for consumer brands and retailers, announced today new leadership appointments following the recent privatization of the Company.
With immediate effect, Joseph Phi, Group President, is appointed Group Chief Executive Officer of Li & Fung and Spencer Fung succeeds William Fung as Executive Chairman.
Joseph Phi has 20 years of experience with the Group. He joined Li & Fung in 1999 and was promoted to become Group President of Li & Fung in 2019. Formerly, he served as executive director of Integrated Distribution Services Group Limited from 2004 until its acquisition by Li & Fung in 2010.
“Joseph has a strong track record at the company, having organically grown its logistics business successfully over the past decade,” said William Fung, Group Chairman. “He was appointed Group President, Li & Fung last year to bring his strong execution focus to our Supply Chain Solutions business and has since then expanded his responsibilities for our Sourcing and Production Platform across 50-plus economies. I very much admire the way he focuses on executing our services flawlessly through operational excellence.”
As Executive Chairman of Li & Fung, Spencer Fung will oversee all of Li & Fung’s businesses. He will work closely with the Company’s new partners – GLP, a leading global logistics warehouse operator and investor, and JD.com, one of the world’s largest technology driven e-commerce companies – to enhance its digital solutions and explore new ventures.
Spencer Fung became CEO in 2014 and stepped in as the fourth generation of the Fung family. He is the architect of the vision to create the Supply Chain of the Future.
“Spencer has a clear view and great ambition for the future of Li & Fung and what needs to be done to succeed in today’s ever-changing environment,” said William Fung.
William Fung, upon retirement from his role as Chairman of Li & Fung, will sit on the Board of its holding company and together with his brother Victor Fung, will continue to be involved in business growth and development of the other companies across the Group.