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China Guangzhou Auto's chairman retiring, general manager to take over
September 29, 2016 / 5:41 AM / a year ago

China Guangzhou Auto's chairman retiring, general manager to take over

SHANGHAI, Sept 29 (Reuters) - State-controlled Guangzhou Automobile Group Co Ltd, China’s sixth-largest automaker by sales volume in 2015, said its chairman is stepping down after nearly 20 years in the role and will be replaced by the company’s general manager.

Zhang Fangyou, who will soon reach China’s official retirement age of 60 for males, will be succeeded by Zeng Qinghong, according to a statement posted on the car maker’s website late on Wednesday.

Guangzhou Automobile’s sales ranking of last year includes vehicles produced through joint ventures with Fiat Chrysler , Toyota Motor Corp, Honda Motor Co Ltd and Mitsubishi Motors Corp.

The car maker reported retail sales growth of over 30 percent year-on-year last month, mainly boosted by sport utility vehicles, according to a company document.

Zhang joined Guangzhou Auto after serving as the deputy secretary general in the Guangzhou government. (Reporting by Jackie Cai and Brenda Goh; Editing by Muralikumar Anantharaman)

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