SAIC Group Chairman Chen Hong resigns

It is reported that Chen Hong, the incumbent chairman of SAIC Group who has served for more than ten years, will end his term and officially retire; he will be succeeded by Wang Xiaoqiu, the current president of SAIC Group, who was formerly the general manager of SAIC Passenger Vehicle and created the Roewe RX5; the position of president of SAIC Group will be held by Jia Jianxu, the current vice president of SAIC Group and general manager of SAIC Volkswagen.