CHINA: Brilliance executives resign

By just-auto.com editorial team | 10 December 2004

Brilliance China says three of its top executives have resigned. Yang Mao Zeng, who was executive director of the company and Su Qiang, who was president and chief executive of the company and chairman of its minivan unit, Shenyang Brilliance Jinbei Automobile Co Ltd, have stepped down with immediate effect.

It said He Tao, who was chief executive of Shenyang Brilliance Automobile, has also resigned.

The announcement comes less than a month after the resignation of the company's auditor, PricewaterhouseCoopers. Zhang Xin, an analyst with Guotai Junan Securities Co Ltd, told AFP that the resignations are due to the weak performance of Brilliance China Automotive Holdings and its subsidiaries.

"It was already well known that this could happen in July or August due to the poor performance of these companies," Zhang said.