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Li Auto (LI) Presidnet/Director Yanan Shen to Resign, Donghui Ma to Replace – StreetInsider.com

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StreetInsider.com Top Tickers, 12/10/2022
Li Auto Inc. (Nasdaq: LI) announced that Mr. Yanan Shen, president and director, has tendered his resignation as the president and a director of the Company in order to devote more time to his personal affairs, effective on January 1, 2023. Mr. Shen will stay with the Company to support the Company’s continued efforts in the organizational upgrades to prepare for its future success.
In addition, the Company’s board of directors has promoted Mr. Donghui Ma, chief engineer, as the president and appointed him as a director of the Company, effective on January 1, 2023. Mr. Yan Xie, senior vice president, has been promoted as the chief technology officer, effective on December 12, 2022.
Mr. Xiang Li, founder, chairman, and chief executive officer of Li Auto, commented, “On behalf of our board and the management team, I would like to thank Yanan for his contribution to Li Auto since 2015. His sound judgment and leadership have been instrumental in our company’s growth from zero to one and the amazing delivery records that we have achieved, one after another, in the smart NEV market in China. Yanan has been my great partner over the years and will remain a lifetime friend whom I will always cherish and learn from. I am very grateful that before Yanan moves on to a different focus in life, he will continue to support our critical organizational upgrades so that we are ready for our ‘one-to-ten’ development. Meanwhile, we are also excited about the promotion of Donghui and Yan and look forward to working with them in their new capacities and taking Li Auto to new heights.”
“It has been a privilege to work alongside the right team and serve Li Auto during its founding and rapid development. I believe it’s now time to take a break and rethink how to create more value for my family and society,” commented Mr. Yanan Shen, “The strong support and guidance from Xiang has helped me always strive further, for which I’m deeply grateful. Xiang has been my mentor in work and is also my most trusted friend in life. I also would like to thank Donghui, Yan, and our chief financial officer, Tie Li, for being there with me side-by-side through thick and thin, and to everyone at Li Auto for their support, hard work, and dedication. I firmly believe that Li Auto will be an ultimate winner among the global smart new energy automakers,” Mr. Shen concluded.
Mr. Donghui Ma has served as the Company’s chief engineer since September 2015. Mr. Ma worked as dean of research institute at SANY Heavy Vehicle Body Co., Ltd. since June 2011. Prior to that, Mr. Ma worked at IAT Automobile Technology Co., Ltd. and Jianshi International Automotive Design (Beijing) Co., Ltd. Mr. Ma received a bachelor’s degree in power engineering from Wuhan University of Technology in 1999 and a master’s degree in mechanical manufacturing and automation from Shanghai University in 2003.
Mr. Xie has served as the Company’s senior vice president since July 18, 2022. Mr. Xie has extensive work experience in the technology sector. Prior to joining the Company, Mr. Xie served as a vice president of software engineering at the consumer business group and the head of the device OS department at Huawei Technologies for three years, chief architect of AliOS system, and a general manager at Alibaba Group Holding Limited for five years, and worked at Intel Corporation for six years. Mr. Xie received a bachelor’s degree in information electrical engineering from Zhejiang University in 2001 and a master’s degree in computer engineering from the University of Delaware in 2003.
Mr. Shen has confirmed that his resignation does not result from any dispute or disagreement with the board of directors of the Company or the Company. Mr. Shen will also step down from his positions at the Company’s subsidiaries and consolidated affiliated entities, and his last day with the Company is expected to be around the end of June 2023 to ensure a smooth transition.
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