Billionaire founder Li Shufu has stepped down as chairman of Geely Auto, with Andy An Conghui appointed to fill the vacancy.
Key facts
- •Li Shufu is the 63-year-old founder of Geely Auto.
- •Andy An Conghui, 56, assumed the role of chairman on Tuesday.
- •Jerry Gan Jiayue has replaced Gui Shengyue as the company's CEO.
- •Li will remain chairman of the parent company, Zhejiang Geely Holding Group.
- •The leadership changes were announced following record first-half revenue for the carmaker.
Li Shufu, the 63-year-old founder of Geely Auto, has resigned as chairman of the company. The announcement follows the automaker's report of record first-half revenue. Andy An Conghui, 56, has been named as his successor, effective Tuesday.
Leadership Transition Details
The company confirmed the leadership changes in a filing with the Hong Kong stock exchange. While Li is stepping down from his role at Geely Auto, he will continue to serve as chairman of Zhejiang Geely Holding Group, the parent company that owns Volvo Cars and holds a stake in Mercedes-Benz Group. In addition to the chairman change, Jerry Gan Jiayue, previously the head of car development and sales, has been appointed as the new CEO of Geely Auto, replacing Gui Shengyue.
Strategic Succession Goals
Li described the succession as a move to support the company's future sustainable growth. He stated that the transition is intended to cultivate professional talent and foster a positive corporate culture. Li had previously signaled plans for a succession strategy during a forum at the Chongqing Auto Show in June.
Timeline
- JuneLi Shufu announced at the Chongqing Auto Show that Geely would develop a succession plan.
- MondayGeely Auto reported record first-half revenue and announced Li's resignation.
- TuesdayAndy An Conghui officially took over the role of chairman.
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This article was independently rewritten by ManyPress editorial AI from reporting originally published by SCMP Business.
