According to Reuters, on September 3, electric vehicle manufacturer Polestar announced the appointment of former Stellantis financial executive Jean-Francois Mady as the company’s chief financial officer.
Jean-Francois Mady.
Photo source: Ji Xing, Ji Xing said in a press release that Mady will take over from Per Ansgar from October 21.
Ansgar joined Polar Star in January this year, serving as the company’s chief financial officer on an interim basis.
In the future, Ansgar will continue to serve as the chief financial officer of Geely Sweden.
According to Jixing, Mady has 25 years of senior leadership experience in auto finance and financial services in Europe, China, Asia and India.
Mady’s last job was as senior vice president of global accounting operations and financial transformation at Stellantis, and previously held multiple leadership positions at the Peugeot Citroen Group.
, In February this year, Volvo Cars announced that it would stop providing funds to Jixing, but Geely, the majority shareholder of Jixing, said it would continue to support the company.
On August 29, when Jixing announced its second-quarter earnings report this year, it also announced that it had obtained a loan of US$300 million, allowing it to achieve its external financing goal of approximately US$1.
3 billion.
After taking various measures, including negotiations with suppliers, to reduce manufacturing costs across its product line, Polar Star plans to achieve double-digit gross margins by the end of the year.
, Reuters reported that the announcement of the appointment of a new chief financial officer is the fourth executive personnel change in Jixing in recent months.
Just last week, Gestar announced that starting October 1, veteran automotive industry executive Michael Lohscheller will succeed Thomas Ingenlath as the company’s CEO.
Since its establishment in 2017, Ingenlath has served as CEO and has successfully laid a solid foundation for the future development of the brand.
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