Geely founder Eric Li to step down as chair of flagship auto unit

Chinese auto giant Geely Holding announced a management reshuffle on Aug 17, with founder Eric Li stepping down as chair of flagship unit Geely Auto. Li, who established Geely four decades ago, will maintain his position as chair of Geely Holding Group. Executive director An Conghui will take over as chair, while executive director Gan Jiayue replaces Gui Shengyue as chief executive of Geely Auto.

Gui Shengyue will become vice-chair of the company. The board believes Gan's extensive management experience and industry expertise will enable him to lead the Group's operations effectively and support the execution of the Group's long-term strategic objectives. The reshuffle is part of Geely's efforts to develop management talent and adapt to a slowing domestic market, as the automaker expands its presence globally.

An Conghui's appointment as chair marks a shift away from a family-centric management model, emphasizing organizational systems and structured talent pipelines for professional decision-making. Li stated that Geely would continue to pursue partnerships over building new manufacturing capacity abroad. Geely Auto reported a 15% rise in first-half revenue and a 46% increase in core profit on Aug 17.

The company aims to generate two-thirds of its sales outside China, with European markets targeted for annual sales of 600,000 vehicles within two to three years. Geely has already struck a deal with Ford to build electric SUVs at the US automaker's plant in Spain and jointly develop a vehicle for the European market.