Honor's CEO is unexpectedly stepping down from his post
George Zhao, CEO of Honor, is resigning with immediate effect. Chinese media reports that health problems may have been the reason for his departure. The company's board of directors has accepted his decision.
Here's What We Know
Li Jian, a former Huawei executive with more than 20 years of experience in mobile communications, has been appointed as Honor's new CEO. A brief statement from CLS China did not provide details about Zhao's decision or his current status.
The new head of the company, Li Jian, began his career at Huawei in 2001 and gradually progressed through the ranks, becoming a member of the Supervisory Board before leaving in 2020 to join Honor in 2021. Li Jian previously served as vice chairman, director and president of the Human Resources Department before being appointed CEO of Honor.
He will have to manage the company in a challenging situation as Honor prepares to launch an IPO in the near future. IPO or Initial Public Offering is the process by which a company will be able to offer its shares to the general public in the stock market for the first time. This will allow Honor to raise capital from investors.
