Gasgoo (Shanghai, September 23th)-On September 22th, news came from Auto Home that another senior manager reshuffle took place, with its co-founder Fan Zheng and General Manager of second-hand Business Unit Hu Yongping resigning at the same time. Relevant person in Auto Home told reporters that, the company now keeps good employee stability and normal business operation.
Since June 25th, 2016, Pingan Trust became the biggest shareholder of Auto Home with a holding ratio of 47.7%, Pingan has dismissed Auto Home’s CEO Qin Zhi and CFO Zhong Yiqi in Board Meeting afterwards, and appointed Lu Min, who came from Pingan Group, as the new Board President and CEO on June 27th.
At that time, Auto Home appointed many senior officers, including President and General Manager of Media Business Unit Kang Yan, Vice President and CFO Wang Junlang and Vice President Shi Jingkui.
Public data shows that most of the newly appointed senior managers came from Pingan Group. Kang Yan once took post of Bain Capital’s Global Director and Senior Partner. Wang Junlang once was Anjuke’s CFO and Pinganfang’s CEO. Shi Jingkui once was General Manager of Shanghai Branch of Pingan Life Insurance.
With the leave of Fan Zheng, Hu Yongping, Auto Home’s key management team has been totally took over by Pingan Group. Since the change of major shareholder and resigning of main management team, Auto Home has a decreasing growth of net revenue in Q2, compared with Q1’s 75.5%. But the net revenue also reaches RMB 1.38b in Q2, increasing 60.1%.
