From Home Furnishing Business
Lacquer Craft Furniture Names Senior VP of Finance
Yuang-Whang “Daniel” Liao has been named senior vice president of finance for Lacquer Craft Furniture, a new position for the company.
In his new role, Liao is responsible for matters relating to corporate finance, capital markets, investor relations, mergers and acquisitions, and corporate development. He also will assist with strategic planning and other financial management activities. He reports to Mohamad Amini, president of Lacquer Craft and executive director of Samson Holding Ltd.
“We are pleased to welcome Daniel back to the Lacquer Craft management team,” Amini said. “With our upcoming strategic initiatives to invest over $30 million over the next three years in our factories in China, his wealth of experience in the financial sector and deep knowledge of Lacquer Craft, Samson and the furniture industry as a whole will be a great asset. As a longtime supporter of Samson, we look forward to working with him again.”
Since 2007, Liao has served as a non-executive director of Samson Holding Ltd. and served as director of investor relations for Samson Holding and as vice president and chief financial officer of the subsidiaries of Lacquer Craft from 2003 to 2007. He also previously served as CEO of China Tianyi Holdings Ltd. He has worked for more than 12 years in the financial sector, serving in a range of positions, including executive director and CFO of China LotSynergy Holdings Ltd.; investment director of the private equity department at Citibank Hong Kong; and financial officer, risk analyst and vice president of private equity at Citibank, Taipei.
“Daniel will play a key strategic role as we implement our ambitious program of new strategic initiatives aimed at improving productivity, enhancing service and reducing our environmental footprint,” Amini said. “He has a proven track record that will help us control costs and boost efficiencies as we move forward with the implementation of new equipment, systems and processes.”
“With the company’s aggressive initiatives and momentum, this is a very exciting time for Lacquer Craft Furniture,” Liao said. “Because of our long association, I have the greatest respect for this management team and look forward to playing a role in the next phase of our growth and development.”
In April, Lacquer Craft announced that it has launched strategic initiatives at its Dongguan and Jiashan manufacturing operations that will set new standards for the industry. The improvements will expand production of wooden products for both the residential and hospitality industries, increase efficiency, and reduce emissions to bring both facilities into compliance with China’s new environmental regulations. The initiatives also will provide an additional 500 containers of production capacity per month from the two plants, which together total more than six million square feet. The new lines also will incorporate the use of new environmentally-friendly, water-based finishing processes.