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Nio promotes Qu Yu, Senior Vice President of Finance, as new CFO.

Nio (NYSE: NIO) today announced the resignation of Steven Feng as Chief Financial Officer, effective July 5, 2024, for personal and family reasons.

Below is its statement, as the CnEVPost article is being updated.

NIO Inc. (NYSE: NIO; HKEX: 9866; SGX: NIO) ("NIO" or the "Company"), a pioneer and a leading company in the premium smart electric vehicle market, today announced that Mr. Steven Wei Feng has tendered his resignation as the Chief Financial Officer of NIO for personal and family reasons, effective July 5, 2024.

The Company greatly appreciates Mr. Feng's contributions to NIO since 2019 and wishes him the best in his future endeavors.

The board of directors of the Company (the "Board") has approved to concurrently promote the Company's Senior Vice President of Finance, Mr. Stanley Yu Qu, as the new Chief Financial Officer. Since joining NIO in October 2016, Mr. Qu has demonstrated strong expertise and leadership in overseeing the Company's overall financial and reporting functions.

Prior to joining NIO, Mr. Qu held various financial leadership roles at leading multinational companies including Lear Corporation and Johnson Controls, from 2013 to 2016. Before that, he worked at PricewaterhouseCoopers for ten years.

Mr. Qu holds a Master's Degree in Accounting from Shanghai University of Finance and Economics and a Bachelor's Degree in Accounting from Peking University. The Board believes that Mr. Qu is a highly qualified and suitable candidate.