MG General Manager to Resign from SAIC

SHANGHAI - August 13, 2008: The former MG general manager Zhang Xin submitted his letter of resignation to SAIC on July 22, reported 21st Century Business Herald.

If approved to leave, he will the second top executive resigning from the reorganized Nanjing Automotive Company (NAC) after NAC was taken over by Shanghai Automotive Industry Corp (SAIC); Wang Hongbiao, former president of NAC Britain Company, left SAIC for Beijing Hyundai earlier this year.

Zhang Xin has been NAC MG general manager since December 2005, and has served as general manager for Nanjing Iveco Automobile Co (NAVECO) as well as the director for Yuejin Motor Group. It is believed that NAVECO's profitability among other NAC OEMs embattled with finance difficulties can not be achieved without Zhang Xin's efforts.

In the statement to SAIC, Zhang Xin expressed his appreciation to his boss and fellow executives for their help, saying that he expected to change his current way of life and re-arrange his career. It is said he has plans to pursue his academic or professional studies in German.

Sources said Zhang is likely to join a commercial vehicle (CV) company due to his success in the CV sector.

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