Qoros’ CEO resigns after less than 1 year
Print Edition
SHANGHAI-BASED Qoros Auto Co, the joint venture between China’s Chery and Israel Corp, said yesterday that CEO Phil Murtaugh has resigned for personal reasons after less than a year in the post.
Qoros said its Chairman Chen Anning will take over after Murtaugh, formerly the China head of General Motors, leaves at the end of this month.
His resignation came after Qoros struggled for another year as an auto brand with a weak market presence.
Qoros is reckoned to have sold under 15,000 cars last year, a 170 percent increase, but far short of its sales target of 35,000 units. Its sales are like a drop in the sea amid sales of 20 million vehicles in China.
Its portfolio includes hatchbacks, small and mid-sized SUVs.
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