Pingan becomes AutoHome’s biggest shareholder
Pingan announced on June 25th that, Pingan has finished AutoHome’s share transfer with Telstra and officially becomes AutoHome’s biggest shareholder, holding 47.4% shares with a price of USD 1.6b.
But regrettably, AutoHome’s CEO Qin Zhi’s letter to the company’s internal staff was made public on the morning of June 26th, informing the whole staff that AutoHome’s CEO and CFO Nicholas was replaced.
Qin Zhi, CEO of AutoHome, taking in charge of two websites AutoHome and its second-hand car transaction platform. During his term of office, he led his team to accomplish the integration of several subsidiary companies. He became President of AutoHome in July, 2007. Under his leadership, AutoHome became the biggest auto vertical site. He took office as Vice Executive President and CEO of Telstra Sensis Media China in January, 2009 and August, 2009 respectively.
AutoHome’s CFO Zhong Yiqi will leave with Qin Zhi. AutoHome’s internal staff transfer will begin afterwards.
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