FAW Jiefang announces leadership shakeup, new chairman and GM

FAW Jiefang Group (SZSE:000800) announced a significant leadership reshuffle. Wu Bilei resigned as Chairman and Director due to work arrangements, but will remain Vice General Manager of China FAW Group. Li Sheng, formerly General Manager, was elected as the new Chairman, while Yu Changxin, previously Executive Vice General Manager, was appointed as the new General Manager. Ji Yizhi also resigned as Vice General Manager due to job changes. Wu Bilei held 75,422 company shares, while Li Sheng held 63,617 shares at the time of the announcement. Yu Changxin and Ji Yizhi did not hold any company shares. The changes are effective immediately. The board expressed gratitude for Wu Bilei's contributions to the company's development.