Wang Feng appointed chairman of CNRC

At a dealer meeting held by Aeolus on 16 December 2022, Wang Feng delivered a speech as “Chairman of China National Tire & Rubber Co., Ltd. (CNRC) and Chairman of Aeolus”. Wang Feng emphasised that in 2021, the sales revenue of Aeolus, Prometeon Tyre Group S.r.l. (PTG), and Pirelli ranked fifth in the world and first in China. The sales revenue of Aeolus and PTG ranked among the top three in China’s domestic industry.

Aeolus did not disclose whether Wang Feng will hold two positions concurrently in the future. And CNRC did not reveal the whereabouts of the former chairman Bai Xinping. An executive from Aeolus told Tyrepress that the company issued a document on 5 December formally appointing Wang Feng as the chairman of CNRC. The executives appointed simultaneously include the vice general manager and chief financial officer of CNRC.

The information shows that CNRC is the controlling shareholder of Aeolus. According to the 2022 semi-annual report of Aeolus, CNRC holds 57.37 per cent of its shares. In addition, CNRC has a 90 per cent stake in PTG and entrusts the management of these shares to Aeolus.

Wang Feng has a deep relationship with Aeolus. In September 2012, Wang Feng became the chairman of the tyre company for the first time. In March 2016, Wang Feng resigned from the position of chairman of Aeolus due to job changes, and his successor was Bai Xinping. In March 2018, two years after he left Aeolus, Wang Feng returned to the tyre maker as general manager and CEO. In January 2019, Wang Feng became the chairman of Aeolus for the second time.