NIO promotes senior VP of Finance to CFO

Shanghai (Gasgoo)- In a significant move for NIO Inc. (NIO), the main player in China's premium smart electric vehicle market, announced on July 5 the resignation of its Chief Financial Officer, Mr. Steven Wei Feng. Effective July 5, 2024, Mr. Feng is stepping down due to personal and family reasons.

NIO has expressed deep gratitude for Mr. Feng's contributions since his appointment in 2019, acknowledging his role in the company’s growth and wishing him the best in his future endeavors.

Photo credit: NIO

In response to Mr. Feng's departure, NIO's board of directors has moved to promote Mr. Stanley Yu Qu, the company's Senior Vice President of Finance, to the position of Chief Financial Officer.

Mr. Qu, who joined NIO in October 2016, has been instrumental in overseeing the company's financial and reporting functions. His prior experience includes significant roles at Lear Corporation and Johnson Controls from 2013 to 2016, and a decade-long tenure at PricewaterhouseCoopers. Mr. Qu's academic credentials include a Master's Degree in Accounting from Shanghai University of Finance and Economics and a Bachelor’s Degree in Accounting from Peking University.

The Board expressed strong confidence in Mr. Qu, citing his extensive experience and proven leadership within the company as key factors in their decision. As NIO continues to navigate the competitive landscape of the premium smart electric vehicle market, Mr. Qu's expertise is expected to contribute significantly to the company's ongoing success.