Nio today announced changes to its board of directors, with two people appointed by CYVN Holdings joining and one person appointed by Tencent dropping out.
(Image credit: CnEVPost)
Nio (NYSE: NIO) today announced changes to its board of directors with the addition of two individuals appointed by Abu Dhabi government fund CYVN Holdings.
The Chinese electric vehicle (EV) maker today announced that its board of directors has appointed Eddy Georges Skaf and Nicholas Paul Collins as new directors, effective February 7, 2024.
At the same time, James Gordon Mitchell, Tencent’s Senior Executive Vice President and Chief Strategy Officer, resigned from Nio’s Board of Directors effective February 7, 2024.
Here’s an introduction to Skaf and Collins by Nio:
Mr. Eddy Georges Skaf has held the position of chief investment officer at CYVN Holdings L.L.C since May 2023. He has also been a director of Foreight Limited and Forseven Limited since June 2023, and a director of CYVN Investments RSC Ltd. since July 2023.
Previously, from August 2019 to May 2023, Mr. Skaf served as a senior advisor to Digital Infrastructure at Mubadala. Before this, he served as the chief strategy officer at Emirates Integrated Telecom Company (du) from August 2017 to May 2019.
Mr. Skaf received his bachelor’s degree in computer and communication engineering from American University of Beirut in 1995, and his master’s degree of business administration in business administration and management and master’s degree of science in management information systems from Boston University in 2000.
Mr. Nicholas Paul Collins has served as the chief executive officer of Forseven Limited since January 2024. Prior to this role, Mr. Collins worked at Jaguar Land Rover from March 2015 to December 2023 in various capacities, including a director of both Jaguar Land Rover Limited and Jaguar Land Rover Holdings Limited, and an executive director of vehicle programs at Jaguar Land Rover Limited.
Mr. Collins began his career in the automotive industry in 1993 and has extensive experience in global product development, product and business strategy, and vehicle development and launch across Ford Motor Company and Jaguar Land Rover. Mr. Collins received his master’s degree in mechanical engineering from University of Nottingham in 1998, and an MBA from Henley Management College in 2004.
Nio said it welcomes Skaf and Collins to the board and believes their expertise and experience will be a valuable asset to the company’s growth.
At the same time, Nio expressed its appreciation for Mitchell’s contribution to the company and his service to the board during his tenure.
Nio’s statement did not directly mention that Collins is from CYVN, though Forseven, the British EV startup he leads, is bankrolled by CYVN.
CYVN completed two cumulative $3.3 billion investments in Nio in 2023, making it the largest shareholder in the Chinese EV maker.
CYVN to become Nio’s largest shareholder, while William Li to retain most voting rights
