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Changan Automobile personnel earthquake, BMW Brilliance completed the change of the stock ratio, Mercedes-Benz was named by the Banking and Insurance Regulatory Commission| Auto

01

Changan Automobile opened the curtain of personnel reform, involving hundreds of senior executives in 39 departments

Recently, Changan Automobile released the news, announcing that "Changan Automobile started the appointment of senior personnel tenure system": the general manager level and middle and senior management personnel of the department were all "dismissed" - all dismissed and re-optimized. The "competitive recruitment" was launched on February 8 and completed on February 13, involving 39 adjustment departments and hundreds of people.

It is understood that for the appointment of senior personnel tenure system, Changan Automobile will pull through the inventory and review the allocation of human resources throughout the company, and establish a young cadre team through layer selection and recruitment, to help Changan complete the transformation task of intelligent low-carbon travel technology companies during the "14th Five-Year Plan" period.

Changan Automobile personnel earthquake, BMW Brilliance completed the change of the stock ratio, Mercedes-Benz was named by the Banking and Insurance Regulatory Commission| Auto

In this regard, Zhu Huarong, chairman of Changan Automobile, said: "It is not that our cadre team is not capable, but that we are facing a new round of competition pattern and need to reconstruct new capabilities. ”

Industry insiders believe that although Changan Automobile now has a good momentum of development, Changan Automobile needs to move forward towards the goal of a world-class brand, and in the new journey, Changan Automobile is facing a lot of pressure, and the pain of reform is inevitable. For this reform of the personnel tenure system, no matter what the starting point of Changan is, the car company needs more vitality.

02

The BMW Group holds BMW Brilliance to 75%, with the new contract extended until 2040

Recently, the BMW Group announced that from February 11, 2022, the new joint venture contract of BMW Brilliance Automotive Co., Ltd. (hereinafter referred to as "BMW Brilliance"), a joint venture of the BMW Group in China, will come into effect. Under the new joint venture contract, bmw group's stake in BMW Brilliance increased from 50% to 75%, while Brilliance China Automotive Holdings Limited indirectly held the remaining 25% of the shares. However, the duration of the new contract was extended by 18 years to 2040.

Changan Automobile personnel earthquake, BMW Brilliance completed the change of the stock ratio, Mercedes-Benz was named by the Banking and Insurance Regulatory Commission| Auto

It is understood that BMW and Brilliance first signed a joint venture in 2003, and the signing period was 15 years. In that year, BMW Brilliance held 50% of the shares of both parties. In 2014, after 11 years of the joint venture, BMW renewed its contract with Brilliance, extending the joint venture to 2028. This is also signed by the third round of joint venture contract between BMW and Brilliance.

In 2018, the state confirmed for the first time the timetable for the opening of the auto stock ratio. BMW, the first brand to announce a share ratio adjustment, said in October 2018 that it would acquire part of BMW Brilliance for 3.6 billion euros, increasing its shareholding to 75%. By the time the new joint venture contract came into effect, China's first foreign-controlled traditional joint venture car company had been born.

In this regard, industry insiders said that after the equity increase, BMW is bound to further increase investment in China, promote the development of joint ventures to introduce more models in China, and accelerate the integration with its global strategy to promote electrification transformation. With the advent of the opening of the stock ratio, BMW took the lead in firing the first shot, which also indicates that the upgrading of Sino-foreign cooperation has entered a new stage.

03

For infringing on the legitimate rights and interests of consumers, Mercedes-Benz was named and notified by the Banking and Insurance Regulatory Commission

Recently, according to the official website of the China Banking and Insurance Regulatory Commission, the China Banking and Insurance Regulatory Commission published the "Circular of the Consumer Rights and Interests Protection Bureau of the China Banking and Insurance Regulatory Commission on the Infringement of the Legitimate Rights and Interests of Consumers by Mercedes-Benz Auto Finance Co., Ltd." (hereinafter referred to as the "Circular"). The Circular pointed out that Mercedes-Benz Auto Finance Co., Ltd. (hereinafter referred to as Mercedes-Benz Auto Finance) did not clearly state the supplier of the loan product in the promotional materials; the information disclosure of the service price did not meet the requirements; the standard terms and conditions for the authorized use of consumer information did not follow the principles of legality, legitimacy and necessity; and the review of consumer rights and interests was not in place.

The CBRC believes that the above-mentioned acts of Mercedes-Benz Auto Finance infringe on consumers' right to know and their right to make independent choices, and there are hidden dangers in consumer information security risks.

Changan Automobile personnel earthquake, BMW Brilliance completed the change of the stock ratio, Mercedes-Benz was named by the Banking and Insurance Regulatory Commission| Auto

In response, Mercedes-Benz responded that it humbly accepted the suggestions and guidance put forward by the regulatory authorities. The Banking and Insurance Regulatory Commission also revealed that Mercedes-Benz Auto Finance has been rectified in accordance with regulatory requirements.

Industry insiders said that in recent years, the regulatory authorities have paid attention to guiding auto finance companies to improve the quality and efficiency of financial services and prevent related business risks, which is conducive to safeguarding the legitimate rights and interests of auto finance consumers and can also enable the healthy development of the auto finance market.

Write | Water miao

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