Nan Fang Du Shi Bao·2025-10-16 16:09Core Viewpoint - The founder of Fuyao Glass, Cao Dewang, has announced his early resignation as chairman, with his son, Cao Hui, taking over the role, marking a new era for the company that holds a one-third share of the global automotive glass market [1][2][5]. Group 1: Leadership Transition - Cao Dewang, aged 79, submitted his resignation report on October 16, 2023, and will continue to serve as a board member and hold positions in some subsidiaries [2][5]. - Cao Hui has been elected as the new chairman of the board and will also serve as the legal representative and head of the strategic development committee [2][5]. - The reason for Cao Dewang's resignation is stated as the need for strategic optimization of the company's governance structure and sustainable development [5]. Group 2: Background of Cao Hui - Cao Hui, the son of Cao Dewang, has a background that includes working on the production line and holding various managerial positions, including general manager of Fuyao's Hong Kong operations and later in North America [6]. - He founded Fujian Sanfeng Holdings, which filled gaps in Fuyao's aftermarket services, before returning to Fuyao and selling his companies to ensure a smooth succession [6]. Group 3: Company Overview - Fuyao Glass, founded in 1987, has grown from a struggling local enterprise to the world's largest automotive glass supplier, with a market share of nearly 34% [7]. - The company has established production bases in 12 countries and employs approximately 37,000 people, supplying glass to major automotive brands [7]. - Fuyao's latest financial report for Q3 2025 shows revenue of 11.855 billion yuan, a year-on-year increase of 18.86%, and a net profit of 2.259 billion yuan, up 14.09% [8].