Automotive Author: Qasim Khan Editor: Luke Sheehan Oct 17, 2020 10:28 AM (GMT+8)

With profits in sight, the automaker is made a management change.

Image credit: EqualOcean

Chongqing-based automobile manufacturer Changan Automobile announced on October 15 that (chairman) Zhu Huarong has been replaced by Wang Jun as the company's new president.

It can be seen from the 'Corporate Leadership Team' column of Changan Automobile's official website that Wang Jun's position has been updated to President and Deputy Party Secretary of the company. 

Wang Jun, a 48-year-old industry veteran, held various positions in the company's marketing, product management, technology research and commercial vehicle departments and has made great efforts in the company's research and development, marketing, organization construction, personnel training.

It is also worth mentioning that, in the first three quarters of this year, Changan Automobile's net profit attributable to shareholders is expected to be between CNY 3.2 billion-3.8 billion, a year-on-year increase of 220.23 -242.78%. Basic earnings per share are CNY 0.67 to CNY 0.79, compared with the same period last year, Changan lost CNY 2.662 billion.

For 3Q, 2020, the firm is expected to achieve a net profit of CNY 598 million to CNY 198 million, up 241.84% to 384.2% year-on-year, compared to a loss of CNY 421 million in the same period last year.