Li steps down as Geely Auto chair

MANILA: Li Shu Fu has resigned as Geely Auto chairman and executive director.

The announcement said the leadership transition aims to further enhance the professional management authorization mechanism and optimize the company's corporate governance structure.

The move will allow the former leader to “devote time to other business commitments” and facilitate the implementation of the firm's long-term succession planning.

Li was succeeded by An Cong Hui, Geely Auto's executive director.

While stepping down, Li accepted the company's appointment as “Honorary Chairman for Life” in recognition of his contributions to the development of the Group over the years.

The announcement clarified that Li had no disagreement with the Board and would continue to be a substantial and controlling shareholder, with no intention of reducing his stake.

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“The Board would like to take this opportunity to express its sincere gratitude to Mr. Li for his outstanding leadership and invaluable contributions to the Company during his tenure as chairman of the Board. The Board also looks forward to Mr. Li's continued support for the development of the Company in his capacity as the Honorary Chairman for Life and a controlling shareholder of the Company, and to his continued contribution of his wisdom and experience to the Company's strategic planning and long-term development,” the announcement noted.

Meanwhile, the appointment of An—who had extensive experience within the controlling shareholder group and a deep understanding of its operations and strategic direction—as the new chair is expected to “enhance strategic synergy, strengthen collaboration with the controlling shareholder, and contribute to the sustainable company's growth and long-term development.”

Other leadership role adjustments

Relatedly, Daniel Li also resigned as vice chairman but will remain an executive director of the company. His position will be taken by Gui Sheng Yue.

Following this, Gui will no longer serve as Geely Auto's chief executive officer (CEO) but will remain an executive director of the company, while Gan Jia Yue, an executive director, will become the new CEO of the company.

The changes in the key leadership positions all took effect on August 18.

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