George Zhao's resignation as CEO of Honor has initiated significant executive changes within the company, including departures from key marketing and sales leadership roles. The Global Marketing Chief and the Chief Marketing Officer for China have also left, while Guo Rui has transitioned to become the CMO for the domestic market. This reorganization comes at a time when Honor aims for an IPO, navigating a tough market as 2024 shipment forecasts drop and growth in the foldable segment remains stagnant.
Honor's executive changes, including CEO resignations and marketing shifts, signal adjustments as the company prepares for an IPO amid a challenging market environment.
A company representative stated, 'this is a routine adjustment of regional managers,' amid significant leadership changes at Honor.
Guo Rui's promotion to CMO for the domestic market reflects Honor's strategic shift, especially as Jiang Hairong exits amid broader executive turnover.
With 2024 shipments down and foldable segment growth stalled, Honor faces a difficult landscape as it approaches its IPO.
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