Gasgoo (Shanghai, September 27)— Reportedly, Gu Feng, CFO of SAIC, one of leading automakers in China, has submitted resignation application recently.
Resignation of Gu may have great impact on transformation of the company.
Strategy implemented by the company may divide business into four parts including vehicles supply, parts supply, after-sale service and finance.
As CFO, Gu has played an indispensable role in implementation of the strategy of transformation. Based on the target, gross margin of the finance business should increase to 20% from 8%, for which Gu has made specific plan. However, the CFO has decided to resign from the company before implementing the plan.
Some believe that decrease in salary has led to resignation of the CFO. But the reason of resignation remains unknown. And Gu hasn’t decided the next job.
Whether the strategy of transformation can be completed as expected remains uncertain after resignation of the CFO.
