NIO (NYSE:NIO), a leading pioneer in the premium smart electric vehicle market, today announced a significant change in its executive team.

Steven Wei Feng, the Chief Financial Officer since 2019, has resigned for personal and family reasons, effective July 5, 2024.

NIO has expressed gratitude for Mr. Feng's contributions and extended its best wishes for his future endeavors.

Meanwhile, the company's board of directors has confirmed the appointment of Mr. Stanley Yu Qu as the new Chief Financial Officer.

Mr. Qu, who has been with NIO since October 2016 and served as the Senior Vice President of Finance, brings a wealth of experience and a proven track record of leadership.

His previous roles include financial leadership positions at Lear Corporation and Johnson Controls, as well as a decade-long tenure at PricewaterhouseCoopers.