A frequent member of surveys of China’s most influential businesswomen has left her main post.
Wang Feng Ying resigned on Sunday as general manager of Great Wall Motor, China’s largest homegrown maker of SUVs, “due to work adjustment,” the company said in a statement on Sunday. Wang, who had already resigned as an executive director and vice chairman as of March 18, “will continue to engage in the strategic management work of the company,” the statement said.
Hong Kong-traded shares in Great Wall have fallen by 59.6% in the past year, closing at HK$13.16 on Friday, amid slowing economic growth and a shift toward EVs among customers. Great Wall deliveries fell by 16% in the first half of 2022 to 518,525 units, while EV leaders such as Warren Buffett-backed BYD, NIO, Li Auto and Xpeng have enjoyed gains.
Wang joined Great Wall in 1991 and had been responsible for marketing management; she was an executive director from June 2001 until this year.
Mu Feng, who has named as Wang’s successor, joined Great Wall in 2007 and has served as the head of research and development, among other posts.
Great Wall’s Chairman Wei Jian Jun has a fortune worth $16.9 billion on the Forbes Real-Time Billionaires List today.
See related posts:
BYD Makes First Foray Into Japan Passenger Car Market With Three EVs
Warren Buffett-Backed BYD’s EV Sales More Than Tripled In June
How a 32-Year-Old Couple Makes $100K Per Month In Semi-Passive Income
Multiple Catalysts Lift Markets, Week In Review
The Student Loan Pause Is Actually, Really Ending — 6 Key Dates And Details