Chinese home appliances provider Hisense Group announced that their 47-year-old vice president Liu Hongxin has been appointed new president of the group.

Liu is replacing 64-year-old former president Yu Shumin.

Liu joined Hisense after graduating from university in 1989 and started his career in a sales branch of the company. During his service in Hisense, Liu held positions like deputy general manager, general manager, and chairman of Hisense Electric and vice president of Hisense Group. In 2012, he was reportedly chosen as the president's successor.

Yu started serving as Hisense Group president in 2000 when the group separated its management team and decision-making team. Over the past 15 years, Yu continued to promote the development of the group via technology, industrial distribution, and acquisitions in China and abroad, realizing rapid sales growth. So far, Hisense Group's overall scale is nearly ten times of that when he first took the role.

After taking over Yu's work, Liu will face a huge challenge to achieve the synchronous growth of corporate scale and profit.