Stock Market News

China’s CATL reshuffles management as billionaire executive exits

2022.08.01 18:18

China's CATL reshuffles management as billionaire executive exits
FILE PHOTO: People walk past the R&D centre of Contemporary Amperex Technology Ltd (CATL) in Ningde, Fujian province, China, December 16, 2016. REUTERS/Jake Spring

SHANGHAI (Reuters) – China’s CATL said on Monday its vice chairman and deputy general manager Huang Shilin had resigned and would leave the battery maker to explore business opportunities elsewhere.

The departure of Huang, a billionaire who holds a near 11% stake in CATL, comes amid a broader reshuffle that will also see Chairman Zeng Yuqun take over the general manager role from Zhou Jia, who has been appointed as vice chairman, according to company filings with the Shenzhen Stock Exchange late on Monday.

Huang will explore business opportunities in sectors including solar panels, energy storage and battery charging, CATL said in a separate statement to Reuters.

He will continue promoting the development of new energy industry with potential synergies with CATL in the future, it added.

Huang is currently ranked 79th in Forbes Fortune List with a net worth of more than $20 billion. His stakeholding is second only to Zeng, whose net worth stood at $45.6 billion as of Aug. 1, according to Forbes’ calculations.

CATL, whose clients include Tesla (NASDAQ:TSLA) Inc and Volkswagen AG (OTC:VWAGY), is the world’s largest battery maker.

Industry tracker SNE Research says the company has a share of more than 35% of the booming global electric vehicle battery market, which is worth tens of billions of dollars a year.

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 76,278.44 1.12%
vested-xor
Vested XOR (VXOR) $ 3,405.08 99,999.99%
ethereum
Ethereum (ETH) $ 2,924.90 4.73%
tether
Tether (USDT) $ 1.00 0.13%
solana
Solana (SOL) $ 200.09 6.23%
bnb
BNB (BNB) $ 606.43 1.42%
usd-coin
USDC (USDC) $ 1.00 0.14%
xrp
XRP (XRP) $ 0.557372 2.80%
dogecoin
Dogecoin (DOGE) $ 0.195367 2.65%
staked-ether
Lido Staked Ether (STETH) $ 2,926.35 4.95%
cardano
Cardano (ADA) $ 0.417792 13.85%
tron
TRON (TRX) $ 0.160909 0.54%
the-open-network
Toncoin (TON) $ 4.97 3.16%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,465.39 6.53%
avalanche-2
Avalanche (AVAX) $ 27.93 1.75%
shiba-inu
Shiba Inu (SHIB) $ 0.000019 0.17%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 76,262.43 1.14%
weth
WETH (WETH) $ 2,925.56 4.75%
chainlink
Chainlink (LINK) $ 12.79 3.89%
bitcoin-cash
Bitcoin Cash (BCH) $ 382.67 0.27%
sui
Sui (SUI) $ 2.34 1.52%
polkadot
Polkadot (DOT) $ 4.20 1.71%
leo-token
LEO Token (LEO) $ 6.26 0.64%
usds
USDS (USDS) $ 1.00 1.12%
litecoin
Litecoin (LTC) $ 72.58 1.25%
uniswap
Uniswap (UNI) $ 8.92 4.89%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,074.77 4.72%
near
NEAR Protocol (NEAR) $ 4.34 1.69%
aptos
Aptos (APT) $ 9.85 2.10%
pepe
Pepe (PEPE) $ 0.000011 7.68%
bittensor
Bittensor (TAO) $ 515.76 3.22%
internet-computer
Internet Computer (ICP) $ 7.89 1.02%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.43 0.82%
dai
Dai (DAI) $ 1.00 0.25%
stellar
Stellar (XLM) $ 0.10239 5.14%
ethereum-classic
Ethereum Classic (ETC) $ 20.23 0.12%
monero
Monero (XMR) $ 163.32 1.24%
kaspa
Kaspa (KAS) $ 0.116019 4.16%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.14%
whitebit
WhiteBIT Coin (WBT) $ 19.71 2.10%
aave
Aave (AAVE) $ 182.32 0.45%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.348659 3.14%
blockstack
Stacks (STX) $ 1.70 0.95%
crypto-com-chain
Cronos (CRO) $ 0.093039 7.31%
dogwifcoin
dogwifhat (WIF) $ 2.47 1.83%
okb
OKB (OKB) $ 40.55 2.32%
first-digital-usd
First Digital USD (FDUSD) $ 1.00 0.45%
arbitrum
Arbitrum (ARB) $ 0.585983 4.36%
filecoin
Filecoin (FIL) $ 3.79 1.29%
mantle
Mantle (MNT) $ 0.662493 8.75%