There’s big news coming out of leading Asian property portal Juwai.com, who have announced Carrie Law as their new CEO, with Georg Chmiel to step into the role of company chairman.
Ms Law will succeed outgoing CEO Charles Pittar while Mr Chmiel transitions from Juwai’s Director to its Chairman. Both are senior executives who helped make ASX-listed iProperty Group the No. 1 online property company in Asia and oversaw its acquisition in February 2016 for over $750 million by realestate.com.au operator the REA Group (ASX: REA).
About the New Chairman
Georg Chmiel, previously served as the portal’s Director and will take on the role of Chairman. He is also Chairman of ASX-listed company iCar Asia (ASX: ICQ) and was previously the Managing Director of iProperty Group, where he remained with the company through its integration into the REA Group in the largest online advertising merger in ASEAN history.
Before his role at iProperty Group, Mr Chmiel was the Chief Executive Officer and Managing Director of LJ Hooker, a real estate agency and finance network with 700 offices in nine countries; there, he oversaw a period of significant revenue, EBITDA and market share growth. LJ Hooker’s valuation doubled during his tenure.
Earlier, Mr Chmiel held the position of Chief Financial Officer and General Manager International at REA Group Ltd (ASX: REA) for almost six years and was instrumental in building a solid platform for expansion. This allowed the REA Group to grow exponentially. Its market capitalisation grew from $100 million to $1.6 billion in this period.
“Juwai.com’s great strengths include its leading market position in China, the strength of its brand, and strong consumer and customer demand,” Mr Chmiel said.”The latest data suggests Chinese buyers acquired AU$133.7 billion (US$101.4 billion) of international property last year, and that 2017 will rank among the top three years on record.
Outgoing Chairman Richard Kuo will remain on the board as a non-executive director and says the appointment of both Mr Chmiel and Ms Law will allow the company to continue to thrive.
“I believe that Georg and Carrie are the best people to lead the company going forward,” Mr Kuo said. “Both bring a wealth of related experience and success in Asian property technology platform businesses to Juwai.com. I don’t believe there is another executive anywhere more capable or more suited to help Juwai.com achieve its strategic goals over the next several years. During 2017, the board and executive team have implemented substantial change in the company, including further refining its strategy and business plan, and these two appointments are an essential part of ensuring Juwai.com remains the clear market leader.”
About the new CEO
Carrie Law was most recently a senior international executive with the REA Group (ASX:REA) and the former General Manager of iProperty Group, Asia’s No. 1 online property group, which the REA Group acquired in February 2016. She has over 20 years of experience and strong business acumen providing effective total solutions for customers in real estate and media, including digital, social media, outdoor, print, and TV.
In her role at REA role, Law led a successful two-fold business transformation, locally in Hong Kong and regionally at Group level, achieving strong revenue growth and profitability from her first year. By prioritising a strategic focus on digital and mobile, she created sustainable business growth with better experiences for both consumers and customers. She worked with, Century21, Knight Frank, JLL, Colliers, CBRE, Henderson Land Development, Chinese Estates Holdings, Sun Hung Kai Properties, Sino Group, Wheelock, and more.
Ms Law is a Hong Kong native who is fluent in Mandarin, Cantonese and English. She was awarded the Digital Marketer 2016 award by the Hong Kong Association of Integrated Marketing for her contribution to digital innovation for the real estate Industry.
“Juwai.com is already the biggest Chinese international property portal and can be even more successful,” Ms Law said. “I look forward to working with the team to find new efficiencies, business models and revenue streams. I’d like to see Juwai.com provide even more value than it does today to both consumers and customers through the smart application of digital and mobile technology in the unique Chinese ecosystem.”