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Autohome Crashes As Company Announces Management Shake-Up

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Shares of China-based website Autohome ( ATHM ) plunged Thursday as the company announced a shake-up in senior management.

Autohome on Thursday announced that Chief Financial Officer Julian Jiun-lang Wang had resigned and will be succeeded by Jun Zou. Autohome also said that Yan Kang had resigned as president. No successor was named.

[ibd-display-video id=2322909 width=50 float=left autostart=true]Shares of Autohome fell 4.3% to close at 60.97 on the stock market today . Autohome shares have more than doubled in price this year.

On its website, Autohome still lists Min Lu as chairman and chief executive. Autohome said the appointments and resignations took place Thursday.

"The resignations of Mr. Kang and Mr. Wang were not due to any disagreement with the company regarding its business, finance, accounting and/or any other affairs," Autohome said in a prepared statement.

The new CFO, Jun Zou has 23 years of financial management and most recently served as CFO for iDreamSky.

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Autohome is a leading online provider of automotive information for consumers in China. Its primary competitor is BitAuto ( BITA ), a provider of online data and services for China's fast-growing automotive industry.

Autohome, last month, reported better-than-expected results for its fiscal second quarter, exceeding the high end of the company's original guidance and pushing shares higher. BitAuto also reported quarterly earnings last month that topped views . BitAuto shares were up 0.7%, near 44.50.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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