Home
/ China News / News detail
Chrysler headhunts key SAIC foreign executive
PHILIP Murtaugh, the most prominent overseas businessman in China's auto industry, has resigned as the executive vice president of the Shanghai Automotive Industry Corp.
He will join the United States' Chrysler Corp as chief executive officer of its Asian operations.
He will report to Michael Manley, Chrysler's executive vice president for international sales, the Michigan-based car maker said in a statement distributed by PR Newswire yesterday.
SAIC, China's largest auto maker, said the board of directors has accepted Murtaugh's resignation as executive vice president, according to a statement filed yesterday with the Shanghai Stock Exchange by its listed unit, the Shanghai Automobile Co Ltd.
Murtaugh, 52, joined SAIC in June last year, being responsible for the company's overseas operations including business expansion, coordinating product lineups and global sourcing between the domestic and overseas markets.
As the first foreigner to take such a high position at the Chinese auto giant, he was also named as the director of the board of South Korean's Ssangyong Motor Corp, 52 percent owned by SAIC, in July last year.
"I will resign from SAIC and accept an offer from Chrysler Corp that I think will be a tremendous opportunity for me," Murtaugh said in a personal statement yesterday. "At this stage of my career, it is an offer I just cannot turn down."
SAIC said in an e-mail statement that Murtaugh had performed a good job during his tenure helped by his 30-plus years of experience.
He was particularly praised for turning around the Ssangyong operation and in unlocking the synergies that exist between SAIC and Ssangyong.
South Korean's third-largest car maker Ssangyong made a profit for the first half of this year after global sales rose 13.2 percent to 69,755 units, SAIC said earlier.
SAIC has been carrying out a restructuring program in Ssangyong, including cutting costs and lowering sourcing costs to improve operational efficiency as part of its ongoing international strategy.
With Murtaugh's involvement, Ssangyong also recovered from frequent strikes that plagued the group this year.
Murtaugh worked with SAIC for nine years while serving as the head of Shanghai General Motors Corp, GM's joint venture with SAIC in China.
He will join the United States' Chrysler Corp as chief executive officer of its Asian operations.
He will report to Michael Manley, Chrysler's executive vice president for international sales, the Michigan-based car maker said in a statement distributed by PR Newswire yesterday.
SAIC, China's largest auto maker, said the board of directors has accepted Murtaugh's resignation as executive vice president, according to a statement filed yesterday with the Shanghai Stock Exchange by its listed unit, the Shanghai Automobile Co Ltd.
Murtaugh, 52, joined SAIC in June last year, being responsible for the company's overseas operations including business expansion, coordinating product lineups and global sourcing between the domestic and overseas markets.
As the first foreigner to take such a high position at the Chinese auto giant, he was also named as the director of the board of South Korean's Ssangyong Motor Corp, 52 percent owned by SAIC, in July last year.
"I will resign from SAIC and accept an offer from Chrysler Corp that I think will be a tremendous opportunity for me," Murtaugh said in a personal statement yesterday. "At this stage of my career, it is an offer I just cannot turn down."
SAIC said in an e-mail statement that Murtaugh had performed a good job during his tenure helped by his 30-plus years of experience.
He was particularly praised for turning around the Ssangyong operation and in unlocking the synergies that exist between SAIC and Ssangyong.
South Korean's third-largest car maker Ssangyong made a profit for the first half of this year after global sales rose 13.2 percent to 69,755 units, SAIC said earlier.
SAIC has been carrying out a restructuring program in Ssangyong, including cutting costs and lowering sourcing costs to improve operational efficiency as part of its ongoing international strategy.
With Murtaugh's involvement, Ssangyong also recovered from frequent strikes that plagued the group this year.
Murtaugh worked with SAIC for nine years while serving as the head of Shanghai General Motors Corp, GM's joint venture with SAIC in China.
Gasgoo not only offers timely news and profound insight about China auto industry, but also help with business connection and expansion for suppliers and purchasers via multiple channels and methods. Buyer service:buyer-support@gasgoo.comSeller Service:seller-support@gasgoo.com
All Rights Reserved. Do not reproduce, copy and use the editorial content without permission. Contact us: autonews@gasgoo.com
