The Billionaire Who Saved Proton Just Resigned As Geely Chairman—Here’s What’s Happening

Geely Auto founder Eric Li (Li Shufu) 

In 2017, when China’s Zhejiang Geely Holding Group bought a 49.9% stake in Proton, many wondered if Malaysia's national carmaker could ever recover. Fast-forward to today: with game-changers like the X50, X70, and S70 flooding our roads, the man behind that historic deal, Li Shufu, is widely credited with engineering one of the greatest turnarounds in regional automotive history.

Now, in a major corporate move, Li Shufu has officially resigned as Chairman and Executive Director of Geely Automobile Holdings Limited.

Here is the quick lowdown on what’s actually happening behind closed doors:

1. Why Is Li Shufu Stepping Down Right Now?

Li Shufu isn't fleeing a sinking ship, quite the opposite! Geely Automobile Holdings just posted massive H1 sales of 1.4 million vehicles, backed by a staggering 158% leap in overseas exports (474,228 units).

According to official filings, the handover is part of a calculated succession strategy designed to transform Geely from a "founder-driven entity" into a mature, professional corporate structure.

Board vice-chairman Gui Shengyue publicly stated that the shift is a "declaration of de-familialization," ensuring future decision-making relies on structured corporate systems rather than a single charismatic founder.

2. Is He Completely Out of Geely?

Not even close. He remains Chairman of Zhejiang Geely Holding Group (ZGH), the overarching parent group that holds stakes in Proton, Volvo, Lotus, Polestar, and Zeekr.

He stays on as Geely Auto’s controlling shareholder with no plans to divest. The board granted him the title of Honorary Chairman for Life.

3. Who Is Taking Over?

An Conghui

The corner office goes to An Conghui (Andy An). If you follow automotive corporate history, An Conghui is a heavyweight. Joining Geely way back in 1996, he led the integration during the 2010 Volvo acquisition and personally spearheaded the rise of premium EV marque Zeekr. Joining him as new CEO is Gan Jiayue.