Li & Fung names new group president
Li & Fung has appointed Joseph Phi as group president, charged with leading the company’s supply-chain solutions operating groups, including business development.
He will continue as president of LF Logistics and to serve on the board of Li & Fung, reporting to group CEO Spencer Fung.
Phi takes over from Marc Compagnon, who served as group president and executive director of Li & Fung from July 2014 and has moved to the Fung Group as senior advisor while remaining on the board as a non-executive director. Fung Group is the major shareholder of Li & Fung.
“Our goal is to build the supply chain of the future to help our customers navigate the digital economy and to improve the lives of one billion people in the supply chain,” said Spencer Fung. “I am confident Joseph is the right person to build on the solid foundation that Marc has built and to take this to the next stage of development.”
The company says Phi has a strong track record at the company spanning 20 years, having organically grown its logistics business over the past 10.
Compagnon, meanwhile, will now work across the Fung Group of companies, whose core businesses operate across the entire global supply chain for consumer goods including sourcing, logistics, distribution and retail. He will lead the group’s initiative to build a network of strategic industry partners.
With 35 years experience in the retail and supply-chain industries, he joined Li & Fung in 2000 at the time of the acquisition of Colby International where he was chief merchandising officer for 17 years.
Fung Group chairman Victor Fung said Compagnon’s expertise will be invaluable as the group builds a strong network of strategic industry partners to work on creating new sourcing and retail models of the future.
“With the many challenges and opportunities facing the retail industry, we are excited to leverage Marc’s 35 years of experience in the retail and supply chain industry, which is truly unique in this industry.”
He said the appointment highlights Fung Group’s focus on creating value for its customers and business partners. Through its member companies, Fung Group is focused on creating the supply chain of the future.