Carsome recruits ex-Jardine executive to COO position as it considers IPO

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Carsome recruits ex-Jardine executive to COO position as it considers IPO
Carsome recruits ex-Jardine executive to COO position as it considers IPO

Eric Chan, a former senior executive at Jardine Cycle & Carriage, has joined Carsome as worldwide president and COO.

Carsome, a Malaysia-based used-car marketplace, is reorganizing its executive team ahead of an upcoming IPO.

Eric Chan, a former senior executive at Jardine Cycle & Carriage, has joined Carsome as global president and COO, according to a release.

Chan has three decades of automotive industry experience in Singapore and Malaysia. This includes serving as managing director of Jardine Cycle & Carriage’s Singapore business and chairman of a Malaysian entity that manages Mercedes-Benz stores across the country.

“Eric Chan’s notable career in automotive leadership, particularly his work at Jardine Cycle & Carriage, makes the industry veteran a valued addition to our Carsome family,” commented Eric Cheng, Carsome co-founder and CEO.

In addition, Aaron Kee, Carsome’s COO since June 2023, will be named group chief business officer. Juliet Zhu, the company’s former president, will serve as an advisor.

These changes come after Carsome appointed Miguel Fernandez as its group CFO in November. Fernandez formerly worked as the global CFO for Maya, a Philippine banking startup.

Carsome has been looking for a Malaysian government license to provide commercial vehicle inspection and ownership transfer services. Carro, its rival, is also bidding for the license.

In June 2023, Carsome raised an undisclosed amount of cash, which it claimed increased liquidity to $200 million. While the transaction looks to be part of the company’s IPO preparations, it has not indicated when or where it plans to go public.

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