65438+February 1, official website of Zhejiang Geely Holding Group shows that Li Donghui, former vice president and chief financial officer of Zhejiang Geely Holding Group, has officially taken over as CEO of Zhejiang Geely Holding Group, and An Conghui is the president of Zhejiang Geely Holding Group and the CEO and president of Geely Automobile Group.
According to official website, Li Donghui joined Zhejiang Geely Holding Group in April, 201/and served as a director of Zhejiang Geely Holding Group, and served as a member of the board of directors of Volvo Car Company from April, 20 12. 20 1 1 May, served as executive director of Zhejiang Geely Holding Group 201June, and served as vice president and chief financial officer of Zhejiang Geely Holding Group 201/June, 2020.
From July 20 16, he served as executive director and vice chairman of the board of directors of Geely Automobile Holdings Limited (HK.0 175), chairman of Jizhi Automobile Finance Limited from February 20 16, and chairman of Lotus Group from September 20 18.
In brief, Li Donghui has more than 20 years of financial and enterprise management experience in domestic companies and Sino-foreign joint ventures, and has unique views on strategic risk management, financial control and capital operation. Risks have been successfully avoided through operation and capital operation for many times, and systematic control of the company's strategy and financial operation has been realized, which has played a vital role in the formulation of the company's development strategy, financial control, capital operation and joint venture cooperation. In 20 12, Li Donghui won the 6th CFO Annual Meeting in China and the CFO Person of the Year Award in China in 20 12.
There is no doubt that with his ability and qualifications, he is qualified to be the CEO of the group.
In recent years, under the mission of "strategic coordination, promoting change and creating value", Geely Holding Group has been expanding its scale, building automobile factories and establishing joint ventures in many places around the world. This is a shareholding in Daimler and a merger with Volvo ... This time, let Li Donghui take the banner, which is estimated to promote bolder business planning and operation, so that talented Li Donghui can take greater initiative.
So why choose this time? Or related to the current Volvo merger.
On February 10 this year, Geely Automobile and Volvo Automobile officially announced that they were exploring the possibility of business merger and reorganization of the two companies to form a stronger global enterprise group. After the reorganization, in addition to wholly holding Volvo, brands such as Volvo, Link and Polaris will also enter Geely's group system. And plans to list the combined business in Hong Kong and Stockholm, Sweden.
However, in late July, Volvo's performance report for the first half of the year showed that the company suffered operating losses in the first half of the year due to the tight supply chain and factory shutdown caused by the COVID-19 epidemic blockade. In June-June this year, the revenue decreased by 14% to11800 million Swedish kronor, and the operating loss was 989 million Swedish kronor, compared with the profit of 5.52 billion Swedish kronor in the first half of last year. In the first half of 2020, Volvo's new car sales in the European domestic market plummeted by 38%, and its sales in China and the United States also dropped by more than 25%.
Before the release of the performance report, Geely Holding said in June that the board of directors of the company had approved the preliminary proposal to issue RMB shares for listing on the Science and Technology Innovation Board of Shanghai Stock Exchange. Therefore, the merger plan of the two companies has been put on hold temporarily to promote the approval process of the regulatory authorities.
In this regard, a Volvo spokesperson said that because Geely is preparing for the listing of the technology version, it is impossible to discuss the potential merger of the two companies. Once Geely completes its activities related to this, the negotiations will resume.
Now is the node where Geely is about to complete its listing on the science and technology innovation board.
At the beginning of September, Geely Automobile officially submitted the prospectus of the science and technology innovation board to the Shanghai Stock Exchange. According to the prospectus, the total investment of the investment projects raised this time is 20.4 billion yuan, of which 20 billion yuan will be used.
On September 28th, the Stock Listing Committee of Science and Technology Innovation Board of Shanghai Stock Exchange held its 83rd deliberation meeting in 2020, at which the initial issue of Geely Automobile Holdings Co., Ltd. was considered. Subsequently, the Municipal Committee of Science and Technology Innovation Board announced the first meeting of Geely Automobile Science and Technology Innovation Board.
At this point, it is an established fact that Geely Automobile has become the "first car in science and technology innovation board", so the next important group event is naturally to bring up the merger of the two companies.
At present, the market value of Geely Group is about $26.27 billion, while the conservative valuation of Volvo by relevant institutional investors is between $654.38+0.2 billion and $654.38+0.8 billion. Once the two are reorganized, a large group with a market value of more than 30 billion US dollars will be born. This market value is likely to exceed Ford's market value of $36.7 billion and will catch up with SAIC.
Moreover, due to the complementary resources of Geely and Volvo, the reorganized company will become the first worldwide automobile enterprise in China, and Geely itself will further stabilize its position in the domestic market, paving the way for entering overseas markets. This is a shot in the arm for both.
Therefore, in the important development prospect of this relationship group, there must be an experienced, courageous and talented standard-bearer, and Li Donghui deserves it.
I believe that soon after Li Donghui took over, there will be new progress in the merger of Givo, and Li Shufu's long-standing dream of globalization is one step closer.
This article comes from car home, the author of the car manufacturer, and does not represent car home's position.