LONDON/HONG KONG, July 13 - Donald Tang, the Chinese-American executive who has been Shein’s public representative as the company prepared to go public, will step down from his role as Executive Chairman and move into a senior adviser position, three sources with direct knowledge of the matter said.
According to the sources, Tang - who has acted as the West-facing liaison for founder Sky Xu and been the fast-fashion group's public face for roughly three years - will remain engaged with the management team and advise on the company’s affairs for the foreseeable future. The change of title does not have a firm timeline, one source said, and Shein declined to comment and did not respond to questions about who will take over Tang’s public duties.
One source said Sky Xu, rather than Tang, will lead the investor roadshow ahead of the listing. The announcement of Tang’s shift to an advisory position raises questions about whether Xu will become more visible, whether one of Shein’s co-founders will take on a public-facing leadership role, or whether an outside executive will be brought in to fill the gap.
Those familiar with the company’s internal thinking say Tang, 63, who began his career in banking and is a Chinese-American billionaire, was brought into the fold to bridge Shein’s interactions between China and the West. He was introduced to Xu by Neil Shen, founding and managing partner of HSG, formerly Sequoia Capital China, and was selected in part because of his experience managing cross-border businesses and his connections in finance and political circles, one source said. Shen did not immediately respond to a request for comment.
Tang’s remit from the outset included pursuing a U.S. listing and building relationships with policymakers in Washington, D.C. As critiques mounted over Shein’s use of the "de minimis" customs duty waiver, Tang moved to position the company publicly in favor of removing the waiver in July 2023. He also sought to defend Shein’s reputation when lawmakers alleged links between the company’s supply chain and forced labour - a claim Beijing has denied.
The path to a public listing has involved several aborted attempts. After the effort to list in New York faltered, Shein pivoted to London. During that period Tang was a frequent presence at The Peninsula hotel near Hyde Park, often accompanied by his teacup Australian Shepherd, Satchi. Yet the London listing also failed to complete - the China Securities Regulatory Commission withheld approval even after Britain’s Financial Conduct Authority had cleared the IPO - prompting a further shift of focus toward a Hong Kong listing.
Within the company, Tang set out to leave a legacy of strengthened internal controls and improved regulatory relationships. Sources said he led an internal drive to remove sellers of illegal products from the platform and to tighten compliance after Shein faced significant fines from regulators in France and Italy.
Nevertheless, the company ran into a high-profile controversy in France last November when French authorities discovered sex dolls resembling children being sold on Shein’s marketplace. The discovery triggered a national scandal and prompted a government crackdown at the same time Shein opened its first permanent store inside the BHV department store in Paris. Tang had appeared on a large promotional poster at the BHV building alongside Satchi ahead of the store launch; the poster was removed shortly thereafter, and Shein’s French store experiment has since been abandoned.
The company’s public statements on the personnel change have been limited. While Tang will reportedly continue to advise the company, the sources said the precise division of responsibilities going forward is not yet settled. The shift comes as Shein continues to navigate regulatory scrutiny and the final stages of securing a public listing.