This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

7 Days Group Chief Executive Officer Named Co-Chairman Of The Board

GUANGZHOU, China, March 25, 2012 /PRNewswire-Asia-FirstCall/ -- 7 Days Group Holdings Limited ("7 Days Group" or the "Company") (NYSE: SVN), a leading economy hotel chain based in China, announced today that as part of a strategic realignment of its senior management team, the Board of Directors (the "Board") has appointed Mr. Alex Nanyan Zheng, Chief Executive Officer ("CEO"), as Co-Chairman of the Board of Directors, effective March 23, 2012.   Mr. Zheng will remain as CEO until June 30, 2012, at which point he will be succeeded by Mr. Yuezhou Lin, 7 Days' Chief Operating Officer ("COO"). 

The management realignment will allow Mr. Zheng to focus his attention on the development of the Company's new strategic initiatives while handing the day-to-day leadership of the Company to Mr. Lin.  These initiatives include the proposed launch of a new hotel subsidiary in the high-end brand segment, and the development of opportunities to further leverage the Company's industry leading e-Commerce platform and value-added member services. 7 Days has initiated the process to develop a new hotel brand, which it intends to operate as a stand-alone subsidiary of the Company with its own management team. In addition, the Company is in discussion with local and international design firms to develop the hotel concept and brand positioning and has assigned dedicated internal resources to this effort.  Mr. Zheng will oversee both of these initiatives in his role as Co-Chairman of the Board. 

Mr. Lin joined 7 Days in 2004 as a Senior Vice President and Chief Information Officer ("CIO") responsible for the Company's sales, IT and customer service teams, and has since then held various leadership positions across the Company's key business functions.  From 2006 to 2008, Mr. Lin served as the head of the construction department, and was responsible for overseeing development projects on a nationwide basis. During this period, Mr. Lin also held senior business development positions and led the development of the Company's 7 Days Club, an integrated proprietary IT system, and e-Commerce platform.  From 2010 to 2011, in addition to his roles as Senior Vice President and CIO, Mr. Lin oversaw the Company's legal department and later, the supply chain and asset management departments.  Mr. Lin was promoted to COO on March 9, 2012.  

Mr. Boquan He, Chairman of 7 Days Group, said, "As one of the key founders of 7 Days Group, Alex's leadership and vision have been instrumental in building the Company into the leading economy hotel chain in China.  With a portfolio of over 1,000 hotels in operation, an industry leading e-commerce platform and a strong brand name, 7 Days is better positioned than at any other time in its history.  By transitioning into the role of Co-Chairman, Alex will be afforded the opportunity to leverage his extensive experience in the travel and lodging industry to implement the new strategic initiatives which we believe will help drive the future growth of the Company.  Furthermore, the Board is confident that Mr. Yuezhou Lin is a strong candidate to replace Alex as CEO.  As one of 7 Days' founding management team members, Mr. Lin has held senior leadership roles across the organization.  The breadth and scope of his experience provide him with unique insight into all of the Company's core business functions and operations and will allow for a smooth transition to the role of CEO." 

Conference Call7 Days' senior management will host a conference call at 7:30 am (US Eastern) / 4:30 am (US Pacific) / 7:30 pm (HK / Beijing Time) on Monday, March 26, 2012, to discuss the changes in management and the Board, and recent business updates.

The conference call may be accessed by calling +1 866 519 4004 or +1 718 354 1231 (for callers in the US), +800 819 0121 (for callers in China), +400 620 8038 (for mobile callers in China), +65 6723 9381 (for international callers), +800 930 346 or +852 2475 0994 (for callers in Hong Kong) and stating passcode 7 Days.  Please dial in approximately 10 minutes before the scheduled time of the call.

A recording of the conference call will be available by calling +1 866 214 5335 (for callers in the US), +61 2 8235 5000 (for callers outside the US), +10 800 714 0386 (for callers in Northern China), +10 800 140 0386 (for callers in Southern China) or +800 901 596 (for callers in Hong Kong) and entering Conference ID number 65315515.

A live webcast of the conference call and recording of the conference call will be available on the investor relations page of 7 Days' website at

About 7 Days Group Holdings Limited7 Days Group is a leading and fast growing national economy hotel chain based in China. It converts and operates limited service economy hotels across major metropolitan areas in China under its award-winning "7 Days Inn" brand. The Company strives to offer consistent and high-quality accommodations and services primarily to the growing population of value conscious business and leisure travelers who demand affordable, clean, comfortable, convenient and safe lodging, and to respond to its guests' needs.

Safe-Harbor StatementThis press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, among other things, the statements relating to the appointment of Mr. Yuezhou Lin as the new CEO, the Company's new strategic initiatives, Mr. Alex Nanyan Zheng's expected contributions to such initiatives, and the Company's ability to execute its strategies. These forward-looking statements are not historical facts but instead represent only the Company's belief regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company's control. The Company's actual results and financial condition and other circumstances may differ, possibly materially, from the anticipated results indicated in these forward-looking statements. For a discussion of important factors that could adversely affect the Company's business, financial condition, results of operations and prospects, see "Risk Factors" beginning on page 7 of the Company's 2010 Annual Report on Form 20-F filed with the SEC on May 4, 2011, which is available on the SEC's website at

Investor Contact: Vivian Chen, Investor Relations Director7 Days Group Holdings Limited+86-20-8922-5858 

Investor Relations (HK): Mahmoud Siddig, Managing Director Taylor Rafferty+852-3196-3712

Investor Relations (US): Kelly Gawlik, Director Taylor Rafferty+1-212-889-4350

SOURCE 7 Days Group Holdings Limited

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,135.72 +38.82 0.21%
S&P 500 2,101.94 +3.41 0.16%
NASDAQ 4,983.5190 +16.3780 0.33%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs