GAC saw major reshuffle of top executives

Guangzhou Automobile Group Co, one of China's largest State-owned auto enterprises, saw its first large-scale reshuffling of the company's top executives, Yangcheng Evening News reported Tuesday, citing an anonymous source.

More than 10 executive positions have changed while the company's chairman Zhang Fangyou and general manager Zeng Qinghong remained in their posts, the report said.

Analysts cited recent company losses and the need for a better strategy as reasons for the changes in personnel.