There are significant changes in Honor’s management team. After it was announced that CEO George Zhao had resigned from his position recently, other senior executives of the company also experienced job changes. According to the latest news, people in critical positions such as Honor Global Marketing Chief Jiang Hairong, China Marketing Manager Zheng Shubao and China Sales Leader have also left their positions.
Although the official statement made by Honor stated that these separations were a “routine reassignment process”, it is considered that there may be larger strategic goals behind such changes. Because Honor is on the verge of a period that aims to implement its public offering plans in the near future. This indicates that the changes experienced may be part of an institutional restructuring, not just on an individual basis.
It was announced that new names would be appointed to the vacant positions following the separations in the management. It was announced that Jiang Hairong would be replaced by Guo Rui, who served as marketing manager in Honor’s overseas operations. While Guo Rui draws attention especially with his experience in the international market, he will be the new name that will direct the marketing strategies in the Chinese market.
On the other hand, after the departure of China Sales Manager Zheng Shubao, Chen Haoqian was appointed to this critical position. Chen Haoqian, who was previously the head of Honor’s East China operations, aims to increase the company’s sales performance in the domestic market with his experience in creating a regional sales network. The new appointments show that the company wants to transition to a more effective management approach in both local and international operations.
This restructuring process of Honor coincides with a period of increasing uncertainty in the global smartphone market. The decline in overall sales figures in the industry throughout 2023 and the slowdown in growth especially in the foldable phone segment have posed a major challenge for companies. Honor was also affected by these difficulties and recorded a decrease in its 2024 shipment targets.
This is an important factor that should be carefully considered during Honor’s preparations for its IPO. In order for the company to have a strong stance in both national and international markets, new managers need to take effective steps in this strategic period.
It is thought that the management changes experienced by Honor were made in order to strengthen the corporate structure before the upcoming public offering. It is stated that with these changes, the company aims to develop innovative and more aggressive strategies, especially in marketing and sales operations. It is also stated that despite the difficulties in the sector, Honor’s investments in technology will continue and will focus on offering innovative products in this process.
Honor wants to increase its competitiveness on a global scale
These management changes appear to be part of a comprehensive strategy change to increase Honor’s competitiveness not only in the Chinese market but also globally. While we wonder how the company will perform in the future, the effects of this restructuring on the public offering process are being carefully monitored.