Ford China's CEO Steps Down

Jason Luo, Ford China's chairman and CEO, has stepped down from his position with the automaker citing personal reasons.

His resignation comes less than a week after a Ford annual earnings report that included declining sales in China, reports USA Today.

Luo was hired to lead all of the automaker’s operations in Greater China, according to a release from Ford last year. This would have included its import business, Lincoln, its passenger car joint venture Changan Ford, commercial vehicle investment in Jiangling Motors Corporation, and operations in Taiwan.

Peter Fleet, the head of Ford’s Asia Pacific operations, said Luo’s replacement would be the subject of a future announcement, reports Reuters.

The announcement of his initial hiring in August 2017 was made a day after Ford signed a memorandum of understanding with Anhui Zotye Automobile Co., Ltd., a manufacturer of zero-emission all-electric vehicles in China, to secure a joint venture for the development, production, marketing, and servicing of a new line of all-electric passenger vehicles in China.