NIO today announced a new appointment that makes one of China's most influential businesswomen an independent director.
Long Yu, who currently serves as the Founding and Managing Partner of BAI Capital, has been appointed as an independent director to NIO's board of directors, effective July 12, the company said Monday.
Long will also serve as a member and the chairperson of the nominating and corporate governance committee of the board while William Li, NIO's founder, chairman, and CEO, will resign from the committee, effective immediately, the company said.
In addition to her position at BAI Capital, Long is currently a member of the Bertelsmann Group Management Committee and the governor of China Venture Capital and Private Equity Association Limited.
(Source: CY Zone)
"We are delighted to welcome Ms. Long to the Board of NIO. With her outstanding track record of investing in technology and internet companies, coupled with extraordinary insights in consumer products and global markets, Ms. Long brings unique perspectives to the Board as we continue to commit to technology development and holistic user experience," said Li.
"She shares our vision of building a user enterprise and we have full confidence that Ms. Long will contribute significant value to the Board. I'm looking forward to working with her to achieve our mission of shaping a joyful lifestyle for our users," Li added.
Here is a brief description of Long from NIO:
Formerly, Ms. Long was the chief executive officer of Bertelsmann China Corporate Center and the managing partner of Bertelsmann Asia Investments. Prior to that, she was a Principal at Bertelsmann Digital Media Investments.
She joined the international media, services and education company via the Bertelsmann Entrepreneurs Program in 2005.
Ms. Long is a member of the World Economic Forum's Young Global Leaders Advisory Council and its Global Agenda Council on the Future of Media, Entertainment & Information and is also a member of the Stanford Graduate School of Business Advisory Council.
Ms. Long serves on the board of directors and as a member of the audit committee of Tapestry Inc. (NYSE: TPR, its portfolio includes Coach, Stuart Weitzman and Kate Spade) and LexinFintech Holdings Ltd. (Nasdaq: LX), respectively.
Ms. Long received a bachelor's degree in electrical engineering from University of Electronic Science and Technology in China and an MBA from Stanford Graduate School of Business.
These profiles from NIO are relatively official, and to understand Long's standing in the Chinese business community, a previous Fortune magazine review provides a good reference.
In December 2017, Long was named to the "25 Most Influential Women in Business in China 2017" list by Fortune China, sharing the honor with Peng Lei, Chairman of Ant Financial, Ge Yue, Vice President and Managing Director of Apple Greater China, and Liu Qing, President of Didi Chuxing.
Long has also been a long-time supporter of NIO, being owner number 0003 of NIO's first mass-produced model, the ES8, having witnessed the IPO of NIO on-site in the US in 2018.