Terrafugia, Inc. announced that Chao Jing has been appointed as the new CEO of Terrafugia in a bid to expand and strengthens its executive management team.
Jing is a professional business leader with extensive experience working in international companies in the US, China, Philippines, Singapore, Belgium and Japan. With Jing as the new CEO and an expanded focus to include near-term market opportunities, the company is poised for commercial success in air mobility. Jing said on his appointment, “I am honoured to have been given this opportunity to join the highly innovative company Terrafugia and to set its business strategies for the future.”
The new structure of the executive management team also includes Huaibing Wang, Terrafugia’ s new Chief Financial Officer. Wang has over 20 years of experience in various finance leadership positions in both automotive and industrial businesses.
The Board of Directors also announced that Co-Founder and CTO Carl Dietrich has made the decision to move on from Terrafugia effective April 6, 2019. The board thanked Dr. Dietrich for his service over the past thirteen years as one of the founders of the company and a pioneer in the field of combined flying/driving vehicles. Dr. Dietrich was instrumental to the foundation and growth of Terrafugia.
Terrafugia was founded on the idea of revolutionising mobility. The company is focused on continuously investing in and developing technical competencies in both its US and China sites, leveraging its competitive advantages to position the company for future growth in the global market and for long-term success.
Jing also stated that, “Terrafugia will continue to calibrate its business strategies based on market opportunities, and we look forward to becoming an industry leader with a high focus on customer satisfaction in air mobility.”
Terrafugia is a wholly-owned subsidiary of Zhejiang Geely Holding Group (Geely Holding), a global automotive group that owns several well-known international automotive brands.