Shein Executive Chairman Donald Tang will step down as the company nears completion of its IPO, according to three sources with direct knowledge.
Donald Tang will step down as Executive Chairman of Shein and move to a senior adviser role after three years as the public face of the fast-fashion retailer. He will continue to work closely with the management team with no fixed timetable for the transition.
The 63-year-old Chinese-American billionaire, based in Los Angeles, was introduced to founder Sky Xu by Neil Shen of HSG, formerly Sequoia Capital China. He was chosen for his experience managing businesses between China and the United States as well as his connections in finance and politics.
Tang's planned departure raises questions about whether Xu will now step into the spotlight, assign one of his co-founders to that role, or bring in another external leader.
