Rockowitz named Li & Fung ceo
HTT Staff -- Home Textiles Today, 5/18/2011 2:12:09 PM
Hong Kong - Bruce Rockowitz, founder of the Colby International trading agency Li & Fung acquired in 2000, has been named group president and ceo of Li & Fung Ltd.
Rockowitz has been an executive director of Li & Fung since 2001 and president of Li & Fung (Trading) Ltd. Since 2004.
William Fung has been appointed executive deputy chairman. Victor Fung will step down as group chairman at the company's 2012 annual meeting, to be succeeded by William Fung Kowk.
"Li & Fung has reached a size and structure that requires a new organizational structure," said Victor Fung.
Rockowitz will oversee the $15.9 billion company's new three-year plan for trading, logistics and distribution. Nine newly promoted division presidents now report to him.
He is also non-executive director of the Pure Group, a lifestyle, fitness and yoga firm operating in Hong Kong, Singapore, Taiwan and soon China. In 2010 and 2011, Barron's ranked Rockowitz as one of the world's 30 best ceos.
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