Head of Ford in China Resigns After Disappointing Sales
The CEO of Ford’s division in China resigns “effective immediately.” Automaker saw 6 percent drop in Chinese sales from last year while competitors’ sales increased.
The head of Ford’s Chinese division is resigning effective immediately after less than half-a-year on the job.
Ford officials announced that its CEO of Chinese operations, Jason Luo, is resigning for personal reasons that they say are connected to the time before he worked with the Dearborn-based automaker.
Ford officials add that the resignation is not connected to how well the company is doing in China, where the automaker sees a “robust” future ahead.
But the move comes as Ford and its joint ventures report a 6 percent drop in sales compared to the year before.
By contrast General Motors reported a 4.4 percent increase in sales in China, the world’s biggest car market.
Ford is making inroads in China, however.
The automaker even recently reached a three-year agreement with Chinese online retailer Alibaba, China’s version of Amazon, to help move its products.
