Nio CFO Feng Steps Down; Stanley Qu Appointed Successor

Chinese electric automaker Nio announced on Friday that Steven Wei Feng has stepped down as chief financial officer, effective immediately, due to personal reasons. He will be succeeded by Stanley Yu Qu, an insider who joined Nio in October 2016 and most recently served as senior vice president of finance.

Qu will now oversee Nio’s finances amid industry challenges such as a price war and tightened restrictions on Chinese imports. Before joining Nio, Qu held financial leadership positions at Lear Corporation and Johnson Controls from 2013 to 2016, and he spent a decade at accounting firm PwC prior to that.