Geely Automobile (0175) announced on Monday that the company's founder Li Shufu has resigned as chairman and executive director of the company to devote more time to his other business commitments and facilitate the company’s long-term succession planning.
In recognition of Li’s contribution over the years, Geely has appointed him as the honorary chairman for life of the company, its filing showed on Monday.
Li will continue to be a substantial and controlling shareholder of the company and has no intention to reduce his shareholding, while remaining committed to the company’s long-term development and success.
The company has appointed An Conghui, an executive director, as the new chairman. It believes that An’s extensive experience within the controlling shareholder group, together with his deep understanding of the company’s operations and strategic direction, will strengthen collaboration among controlling shareholders and contribute to the company's sustainable growth and long-term development.
In other personnel changes, Daniel Li Donghui has resigned as the vice chairman of the company, and Gui Shengyue, chief executive at Geely, will succeed him in the role. Gui and Li will remain executive directors of the company. Meanwhile, Gan Jiayue, an executive director of the company, will take up Gui’s position as the chief executive.
All changes are effective on Tuesday.
