Summary by Futu AI
NIO Inc., a leader in the premium smart electric vehicle market, announced a significant management change on July 5, 2024. Mr. Steven Wei Feng has resigned from his position as Chief Financial Officer due to personal and family reasons. Mr. Feng had been contributing to the company since 2019. The Board has appointed Mr. Stanley Yu Qu, the Senior Vice President of Finance, as the new CFO. Mr. Qu, who joined NIO in October 2016, has a strong background in finance with previous roles at Lear Corporation, Johnson Controls, and a decade at PricewaterhouseCoopers. He holds a Master's Degree in Accounting from Shanghai University of Finance and Economics and a Bachelor's Degree from Peking University. The Board expressed confidence in Mr. Qu's qualifications for the CFO role. NIO Inc. is known for its technological innovations, including battery swapping technologies and its Battery as a Service (BaaS) model. The company recently unveiled ONVO in May 2024, a second smart electric vehicle brand focused on family life.
