As PropertyGuru CFO, was key in getting US$130mil investment
Experience in strategic control, operations and management, says Lazada
ROCKET Internet’s South-East Asian e-shopping network Lazada Group said it has appointed Michael Karb (pic above) as its new chief financial officer (CFO), effective immediately.
He joins Lazada from the PropertyGuru Group in Singapore where he was the CFO responsible for all finance, legal and operations matters, Lazada said in a statement.
In his role, he was instrumental in finalising the US$130-million (S$175-million) investment from a strategic consortium of investors comprising TPG, Emtek Group and Square Peg Capital announced in June.
His previous experience also includes strategic roles at classifieds site Scout24 and Internet service provider T-Online, both in Germany.
“Michael [Karb] brings a wealth of experience in strategic control, operations and management that will be invaluable in fortifying our fundamentals as we continue to build up the business across the region,” said Lazada Group chief executive officer Maximilian Bittner.
Karb holds a Master of Business Administration from the University of Paderborn in Germany, and is a CFA charterholder.
“Achieving US$1 billion of annualised Gross Merchandise Value regionally in March 2015 in just three years is a clear indication of a well-grounded strategy and the management’s track record of achieving aggressive strategic goals,” said Karb, referring to Lazada.
“I look forward to working closely with Max [Bittner] and the senior management team to continue steering the business into its next phase of growth,” he added.
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