SHANGHAI, Sept 29 State-controlled Guangzhou
Automobile Group Co Ltd, China's sixth-largest
automaker by sales volume in 2015, said its chairman is stepping
down after nearly 20 years in the role and will be replaced by
the company's general manager.
Zhang Fangyou, who will soon reach China's official
retirement age of 60 for males, will be succeeded by Zeng
Qinghong, according to a statement posted on the car maker's
website late on Wednesday.
Guangzhou Automobile's sales ranking of last year includes
vehicles produced through joint ventures with Fiat Chrysler
, Toyota Motor Corp, Honda Motor Co Ltd
and Mitsubishi Motors Corp.
The car maker reported retail sales growth of over 30
percent year-on-year last month, mainly boosted by sport utility
vehicles, according to a company document.
Zhang joined Guangzhou Auto after serving as the deputy
secretary general in the Guangzhou government.
(Reporting by Jackie Cai and Brenda Goh; Editing by Muralikumar