Ford China chief resigns

Jason Luo, chairman and CEO of Ford Motor Co’s China operations, has resigned for personal reasons after taking the helm for less than five months, said the carmaker, which is headquartered in Michigan.

“Jason offered his resignation for personal reasons that predate his time at Ford. Ford accepted Jason’s resignation as the right way for him and the company to proceed,” said Peter Fleet, vice-president of Ford and president of Ford Asia Pacific, in a statement on Monday.

Luo, who joined Ford in September, was responsible for leading the carmaker’s China operations, including its import business, its premium arm Lincoln, its passenger car joint venture Changan Ford and commercial vehicle investment in Jiangling Motors Corporation, as well as its operations in Taiwan.

“Jason’s decision was not related to the business strategy or performance of Ford China, which remains robust, with a bright future ahead,” said Fleet, who will assume Luo’s responsibilities in the interim.

To boost its performance in China, Ford announced a massive plan in December to offer at least 50 new Ford and Lincoln-branded models by 2025 as part of its efforts to grow its current revenue by 50 percent in the world's largest car market by then.

Of the models in the pipeline, eight would be SUVs and at least 15 would be electric vehicles from the Ford and Lincoln brands. Its new joint venture with Chinese carmaker Zotye will deliver a separate range of affordable electric cars under a new brand.

Ford sold more than 1.19 million cars in China in 2017, down 6 percent year-on-year.