Gasgoo.com (Shanghai January 11) - Jianghuai Automobile's (JAC Motors) Chairman Zuo Yan'an announced yesterday afternoon that he will be leaving the manufacturer after over 20 years of service, the Beijing Times reported today. His post will be assumed by current President An Jin.
Mr. Zuo (pictured) first came to JAC in 1990, where he first assumed the roles of economic manager and head of production before becoming chairman. During his time leading the manufacturer, JAC saw its sales grow over 50 percent for 15 consecutive years.
Mr. Zuo, who is in his early 60s, was originally planning to retire by end of 2009. However, due to his enormous influence at the manufacturer, the Anhui branch of the State-owned Assets Supervision and Administration Commission allowed him to stay on for another five years.
According to JAC officials, Mr. Zuo's retirement is due purely to his age and is a typically routine procedure. However, it is worth nothing that JAC's performance had begun to slip in 2011.
Although the manufacturer's business returns from July to September were 2.1 percent higher than in 2010, profits for the same period fell nearly 87.1 percent. A source from JAC agreed that the manufacturer's performance in 2011 was severely lacking, with its passenger automobile sales targets nowhere close to being met.
