Li Shufu Steps Down as Geely Auto Chairman as Geely Turns to Younger Leadership

Li Shufu has stepped down as chairman and executive director of Geely Automobile Holdings, effective August 18, 2026, in what the company described as a planned, long-term succession. The 63-year-old founder said handing responsibility to younger professional talent was essential to Geely Auto’s healthy and sustainable growth, while also allowing him to devote more time to other business commitments.

The change separates Li’s founder and ownership influence from day-to-day governance at Geely Auto. He becomes the company’s lifetime honorary chairman and remains its controlling shareholder, while continuing as chairman of parent Zhejiang Geely Holding Group.

Who takes over at Geely Auto?

The leadership changes are:

• An Conghui, also known as Andy An, becomes chairman of Geely Auto. He was already an executive director.
• Gan Jiayue becomes chief executive officer after serving as an executive director.
• Gui Shengyue, the outgoing CEO, becomes vice-chairman and remains an executive director.
• Li Donghui, the outgoing vice-chairman, leaves that post but remains an executive director.

This is therefore a transition in operating and board leadership, not a withdrawal by Li from the wider Geely group. His continued ownership and role at Zhejiang Geely Holding preserve a link to the group’s existing strategy and businesses.

Why Geely described the handover as essential

Geely’s filing framed Li’s resignation as part of long-term succession planning and said the new structure would support a stronger professional-management authorization mechanism and corporate governance.

Li’s reference to younger professional talent points to a shift from founder-led oversight toward a management team with direct responsibility for the listed automaker’s next phase. The company’s announcement presents the change as an orderly renewal rather than an emergency departure: Li retains an honorary role and broader group leadership, while experienced Geely executives move into the top positions at Geely Auto.

The financial backdrop: record revenue, but a mixed profit picture

The succession announcement followed Geely Auto’s first-half 2026 results. Revenue reached a record RMB173.6 billion, up 15% year on year. However, profit attributable to the owners of the parent declined 1.8%, to RMB9.091 billion.

The headline profit figure needs context. Geely reported core profit attributable to owners of the parent of RMB9.684 billion, up 46% year on year, after excluding factors including foreign-exchange movements and asset impairments.

That combination—record revenue and stronger underlying core profit alongside lower reported profit—shows why the leadership handover comes at a consequential moment. Geely is growing, but it is doing so in a fiercely competitive Chinese auto market where reported earnings can be affected by pricing pressure and non-operating items. The available results support a mixed reading rather than a simple profit-growth story.

Exports are offsetting weaker domestic demand

Geely’s strongest growth engine in the first half was overseas sales. Exports rose 158% year on year to 474,228 vehicles, while domestic sales fell 22.6%.

The export performance prompted Geely to raise its full-year 2026 export target from 640,000 vehicles to 920,000.

The numbers help explain the strategic importance of the new leadership team. Geely must manage both the pressure of China’s home market and the operational demands of expanding internationally. An Conghui’s appointment as chairman and Gan Jiayue’s move to CEO put longtime executives at the center of that next stage, while Li remains positioned to oversee the broader holding group.

What changes—and what does not

What changes: Li no longer chairs the listed Geely Auto board or serves as its executive director. An Conghui becomes chairman, and Gan Jiayue becomes CEO.

What remains: Li stays lifetime honorary chairman of Geely Auto, its controlling shareholder and chairman of Zhejiang Geely Holding Group. Gui Shengyue and Li Donghui also remain on the Geely Auto board as executive directors, although their leadership roles change.

The result is a carefully staged succession: operational authority moves to a younger professional leadership team, but founder influence and continuity remain embedded in Geely’s ownership and group structure.