Boston, MA, 03/10/2014 – Injecting high profile CFO: Vehicle wheel manufacturer, China Zenix Auto International Ltd (NYSE:ZX) during last week announced the resignation of its 2010 appointed Chief Financial officer, making clueless on the reason for his change. However the company managed regain the hope of investors vary soon, when it’s Chairman and CEO proclaimed Mr. Martin Cheung, who has more than 13 years experience in accounting and finance with public and privately held companies, was to be appointed as its new CFO and with immediate effect. He was earlier CFO of Profound Heavy Company Limited, Finance Director of Beijing West Industry International (earlier known as Norstar Founder Group Limited) and Corporate Finance Director of Grant Thornton Corporate Finance Ltd. He also held management positions at Japan Asia Securities and Daiwa securities and is currently a independent director of Ninetowns Internet technology Group Company Ltd (NASDAQ:NINE) and Boyaa interactive international Ltd. He was earlier a senior auditor of Deloitte Touche Tohmatsu.
NEW VP: In addition, the company also promoted Mr. Yozhou Wang as its Vice President Finance. The deputy CEO of the company remarked “We are pleased to welcome Martin to our executive management team, and we believe his financial and operational experiences will provide significant contributions to help us meet our strategic goals in the future.”
Robust Economy and Rising Expectations: With more changes in the company’s management team, supported by their strong knowledge and experience, rises expectations of the investors for better performance by ZX(NYSE) in the coming days. Many analysts recently upgraded their recommendations on this stock.
These recommendations also were backed up by China’s economy growth. The company along with other China based companies and Asian Markets gained during the last trading session following the announcement by China’s Premier, Li Keqiang on its economic growth to be at 7.5% and expects to remain consistent.