Former Nio CFO Steven Feng has joined US-sanctioned surveillance camera maker Hikvision, after leaving the EV maker in early July.
Former Nio (NYSE: NIO) CFO (chief financial officer) Steven Feng has joined US-sanctioned surveillance camera maker Hikvision (SHE: 002415), after leaving the electric vehicle (EV) maker in early July.
Hikvision said in a stock exchange announcement today that it has hired Feng as senior deputy general manager and secretary of the company's board of directors for the same term as the company's sixth board of directors.
Born in 1979, Feng worked for Germany's ZF Group from January 2005 to June 2010 in roles including management trainee, supply chain quality engineer and market information manager.
He was an analyst at Everbright Securities from July 2010 to November 2013, and from November 2013 to October 2019, he was a managing director and automotive and components lead analyst at China International Capital Corporation (CICC).
Feng joined Nio as CFO in November 2019 and resigned on July 5 of this year and was succeeded by Stanley Qu.
Feng joined Nio at one of the company's toughest times, when financial woes brought it to the brink of bankruptcy.
At the end of April 2020, Nio was rescued with a RMB 7 billion investment from investors from Hefei, Anhui province.
After resolving its financial issues, Nio's vehicle deliveries saw continued rise in 2020, driving its US-traded stock price up roughly 11-fold for all of 2020.
Hikvision is a US-sanctioned Chinese company that was added to the US list of export-controlled entities in 2019.
Some local media have recently reported that Hikvision is undergoing a massive organizational restructuring, with 32 research and development regions shrinking to 12 and more than 1,000 layoffs expected.
The company said earlier this month that it was not making large-scale layoffs and that the recent adjustments were necessary for its business strategy.
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