Bitauto announces appointment of President Andy Zhang as CEO

Bitauto Holdings Limited (BITA -2.3%) announced the appointment of Bitauto"s President Mr. Andy Zhang to the position of CEO, effective immediately.

Mr. William Li, chairman of Bitauto said, "Since joining Bitauto in 2006, Andy has built an outstanding track record in his roles as chief financial officer, chief operating officer, and president, and has been core to our success in building and expanding our offerings along China"s online automotive value-chain. With his industry expertise and execution capability, Andy is the best candidate to carry out Bitauto"s strategies for next-stage growth."

Mr. Andy Zhang, chief executive officer of Bitauto, said, "Going forward, we will work on deepening the synergetic collaboration between Bitauto and Yixin to further enhance value offered to our clients, users and investors. We will enable crossover between Bitauto and Yixin user accounts, aggregate data such as trends in automobile functionalities and transactions as well as demographics and preferences of existing and potential car owners, and allow automakers and dealers to offer sales and marketing activities across multiple Bitauto and Yixin channels. I am confident that these initiatives will drive cost efficiencies and further enhance Bitauto and Yixin"s market competitiveness."

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