GREAT Wall Motor Co., China’s largest sport utility vehicle (SUV) maker, has replaced three of its executives amid a sales slump.
The company replaced Kang Guowang, previously in charge of domestic sales, Xing Wenlin, who oversaw international sales, and Liang Xinlu, previously in charge of components procurement, according to the automaker.
Great Wall Motor, which lists shares in Hong Kong and Shanghai, didn’t specify what positions they were moved to. The changes were part of a normal rotation of management and weren’t related to sales results, domestic media quoted the company as saying yesterday.
The reshuffle comes after the company posted sales declines in five of the past six months and the second delay of its key Haval H8 sport utility vehicle.
Great Wall Motor said last month that it will hold off on sales of the vehicle until it is able to make the H8 of a “premium standard.”
“The market will keep speculating whether the executives were demoted or not,” said Cao He, a Beijing-based analyst with Minzu Securities Co. “Great Wall Motor is facing the most difficult time it ever had with the delay of its H8 SUV and sluggish sales of its car models.”
The firm also said yesterday that it hired more than 9,000 new employees in the first half of this year. (SD-Agencies)
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