Li Shufu Steps Down as Chairman of Geely Auto Board; An Conghui Takes Over

In mid-August 2024, Geely Automobile announced that Li Shufu had stepped down as Chairman of the Board and Executive Director, succeeded by An Conghui. Concurrently, Li Donghui resigned as Deputy Chairman but remained an Executive Director; Gui Shengyue was appointed Deputy Chairman while continuing as an Executive Director; and Gan Jiayue was promoted to Chief Executive Officer of the company. At Geely Automobile’s interim results announcement for 2026, Li Shufu stated that this leadership reshuffle aimed to “better leverage the capabilities of professional talent and further build a more professional management team.” In 1997, Geely founded Zhejiang Automotive Vocational & Technical College, followed by the establishment of Geely University, Sanya College, Xiangtan Institute of Technology, Nanning College of Digital Science and Technology, among others, and later formed Geely Talent Development Group. To date, these institutions have collectively graduated nearly 300,000 students. Li Shufu remains Chairman of Geely Holding Group, which owns a 36.62% stake in Geely Automobile, while Li personally holds 2.04%. Geely Holding’s businesses span automobiles, mobility services, technology, and finance. It fully owns Volvo Cars and Farizon New Energy Commercial Vehicle Group, holds controlling stakes in Polestar and Lotus, owns nearly half of Proton, and is the second-largest shareholder of Mercedes-Benz and the third-largest shareholder of Aston Martin. Additionally, Geely Technology Group includes enterprises such as Qianjiang Motorcycle,时空道宇 (SpaceTime DaoYu), and Wofly Sky. Around the same time, in June 2024, Seres Group announced that Zhang Zhengping, son of founder Zhang Xinghai, would succeed him as Chairman of Seres Automobile, with Yin Xianzhi, a professional manager, appointed as Group President. Great Wall Motor’s Chairman Wei Jianjun is currently 62 years old, and his daughter Wei Zihan has served as his assistant since June 2022. BYD Chairman Wang Chuanfu, aged 60, has not yet disclosed a clear succession plan. Chery Automobile Chairman Yin Tongyue, aged 64, has also not publicly announced any successor arrangements.