Changan Auto Management Reshuffle: Zhu Huarong Steps Down as Listed Company's Chairman
nashnova research
Changan Auto announced a leadership split on Oct 16 — Zhu Huarong keeps the group chairmanship but exits the listed company, with Zhao Fei taking the chair and Ye Pei named president — a structural move to separate group strategy from listed-company operations under the new state-enterprise framework.
Who left, who stepped up, who stayed?
Zhu Huarong stays as group chairman but gives up the listed-company chairmanship and party secretary role. This means → he moves from running both levels to overseeing group strategy only, with no direct hand in the listed company's operations.
Group general manager Zhao Fei takes the listed-company chair, keeping a strategic bridge between the two tiers.
Ye Pei becomes listed-company president and deputy party secretary, solely responsible for R&D, production, and sales. In plain terms = Zhao Fei steers direction; Ye Pei runs the business.
Why reshuffle barely a month after a board election?
On Sept 17 Changan Auto completed a board renewal and elected Zhu Huarong as chairman — less than a month before this reshuffle.
Changan's explanation: September was a routine term-expiry renewal; the October move is a structural arrangement rolled out after the new state enterprise's transitional governance tasks were completed. In plain terms = September followed the old playbook; October reseated everyone under the new architecture.
This reflects a governance structure shifting from "transitional" to "permanent" after the new central SOE was formed in July 2025.
What problem is the new SOE architecture meant to solve?
In July 2025 China Changan Automobile was established as a new central SOE, with the group coordinating resources across vehicles, components, finance, and logistics.
The listed company, Changan Auto, focuses on vehicles and is accountable for its own results. This means → the group is the "resource-allocation hub," the listed company is the "frontline unit" — each with its own dedicated leadership.
Previously Zhu and Zhao each held roles at both levels, blurring responsibilities. The reshuffle clarifies authority — a standard move in SOE governance.
What are the new operators' backgrounds?
New president Ye Pei, born 1975, has served as GM of Nanjing Changan, head of strategic planning, and GM of the passenger-car marketing division — a career spanning production, strategy, and sales.
Deng Chenghao, promoted alongside Ye, previously chaired Deepal Auto and spent years in NEV powertrain development and vehicle programs. He is now executive vice president.
Separately, Klaus Ziciora moves to a global chief executive adviser role, stepping down as VP and head of Changan's global design center. This means → the senior foreign executive shifts from a management line to an advisory one.
What hand does the new team inherit?
In the first three quarters, Changan Auto sold a cumulative 1.6927 million vehicles, down 18.07% year-on-year — the overall pie is shrinking.
NEV sales were 709,300 units, down only 2.07% YoY; the NEV share rose from roughly 35.1% to 41.9%. In plain terms = NEVs held up, but ICE vehicles fell faster, dragging down the total.
In September alone, NEV sales grew 15.64% YoY to 119,800 units, yet total vehicle sales still fell 19.11% YoY to 215,400 units; overseas sales hit 94,200 units, over 40% of the month's total. This means → the new management team faces a twin task: accelerate NEV volume + stabilize the overall sales base.
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