Ford’s CEO in China shocks car industry with sudden resignation
Beijing/Shanghai — Ford Motor said its China chief, Jason Luo, has stepped down after only five months at the helm for personal reasons, a sudden resignation that raises questions over how the carmaker will best tackle a sales slump in the world’s biggest car market. Luo had been poached from Key Safety Systems, and it had been hoped that he would reprise his work at the car parts maker where he engineered a significant surge in China revenue. He also oversaw its $920m sale to China’s Ningbo Joyson Electronic and the $1.6bn purchase of assets from bankrupt Japanese airbag maker Takata. "Jason offered his resignation for personal reasons that predate his time at Ford," Peter Fleet, head of Ford’s Asia Pacific operations, said in the statement. "Ford accepted Jason’s resignation as the right way for him and the company to proceed. Jason’s decision was not related to the business strategy or performance of Ford China," Fleet said, adding that Luo’s replacement would be the subject of a...
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