Shopee CEO Chris Feng to help drive Sea's strategy as group president

CONSUMER Internet company Sea has appointed Chris Feng, who drove Shopee's meteoric rise as an e-commerce player in South-east Asia, as group president effective Jan 1, 2022.

Feng will retain his position as chief executive officer of Shopee and Sea's financial services arm SeaMoney, New York-listed Sea announced on Tuesday (Nov 16) as it released its third quarter results.

He will work closely with Sea's chairman and group CEO Forrest Li and the rest of the leadership team on the group's long-term strategic initiatives, with an increasing focus on "synergy creation across Sea's various businesses," the group said.

Feng joined Sea in March 2014 and has been CEO of Shopee since July 2015. He was instrumental in leading the e-commerce unit's rapid expansion in the region - including an assault on archrival Lazada - despite the company's late entry to the space.

Before joining Sea, Feng was part of the South-east Asia founding team at venture builder Rocket Internet for about 2 years, helping to build ventures such as Zalora and Lazada. He was regional managing director at Zalora and chief purchasing officer at Lazada during his tenure.

Shopee is regarded as a high-growth engine for Sea. The company recently embarked on an international expansion outside of South-east Asia, with launches in Europe, Latin America and India.

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In Tuesday's earnings report, Sea again raised its guidance for e-commerce for the full year of 2021. It expects revenue for e-commerce to be between US$5 billion and US$5.2 billion, up from US$4.7 billion to US$4.9 billion. This represents a 135.3 per cent growth from 2020 at the midpoint of the revised guidance.

Sea's other unit is gaming developer Garena, seen as a stable source of income for the group. READ MORE:

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