Executive Moves

Zhao Steps Down as Honor CEO, Jian Li Takes the Helm in Buildup to IPO

George Zhao, CEO of Chinese smartphone maker Honor, has officially stepped down, citing personal reasons. Announced on January 20, 2025, the leadership transition follows Honor’s recent restructuring and IPO preparations. Jian Li, a veteran executive and key architect of Honor’s strategic transformation, has been appointed Zhao’s successor.

Read everything you need to know about this transition at one of China’s largest smartphone manufacturers and what it means for Honor’s strategic vision going forward.

Who is George Zhao?

Who is George Zhao?

George Zhao is a seasoned executive with over two decades of experience in the technology industry. Starting his career at Huawei in 1998, Zhao held several key positions before becoming instrumental in launching Honor as a brand in 2011. 

Zhao assumed the role of Honor’s president in 2015 and later became its CEO when the company separated from Huawei in 2020. Known for his strategic vision and leadership, Zhao has been a driving force in shaping Honor’s identity and growth trajectory. 

Honor’s Significant Milestones Under Zhao

Under George Zhao’s leadership, Honor achieved remarkable success, transforming from a subsidiary of Huawei into a competitive independent brand. Much of this growth occurred during a turbulent time for the Chinese economy and markets.

Here’s a timeline of some of the milestones achieved during his tenure:

  • 2011: Honor launched as a sub-brand of Huawei, focused on innovative and affordable smartphones.

  • 2015: Zhao became president of Honor, guiding it to steady sales growth and global recognition.

  • 2020: Honor separated from Huawei amid U.S. trade restrictions. Zhao led the newly independent brand, securing partnerships and revitalizing its market strategy.

  • 2021: Honor achieved a record of over 10 million global smartphone shipments following its independence.

  • 2022: The company reported 42.2 million smartphone shipments, marking a 15% market share in China. It was also the only Chinese brand to record positive growth that year despite challenges in the global market.

  • 2024: Honor's Magic V3 was named one of TIME's Best Inventions.

Despite its share of the Chinese smartphone market share having shrunk slightly from an all-time high of 19% in Q3, 2023, it remains at a strong 15% as of Q3, 2024, tied with Xiaomi and OPPO and behind only Huawei (19%) and vivo (18%).

Introducing Honor’s New CEO: Jian Li

Honor’s New CEO Jian Li

Jian Li is a highly experienced executive with an extensive resume that matches George Zhao, especially in the technology and telecommunications sectors.

A graduate of Tsinghua University with a degree in engineering, Li began his career at Huawei, where he held various leadership roles over two decades. Zhao and Li have thus worked together within Huawei’s top-tier leadership circle for a significant period.

At Huawei, Li was instrumental in shaping Huawei’s international expansion strategy, overseeing operations in Europe, Southeast Asia, and Latin America.

In 2021, Li joined Honor as Vice Chairman and Head of Human Resources. During his tenure, he drove critical organizational changes and strengthened the company’s internal structure. Li is particularly recognized for his ability to manage large teams and implement strategic transformations, earning a reputation for fostering innovation and growth.

Jian Li Replaces Zhao: As It Happened

While not wholly unexpected, the timing of the announcement of Zhao’s exit and Li’s incumbency came as a surprise. Just days before, Honor publicly denied rumors about George Zhao’s resignation and even emphasized his continued role at the company. However, on January 20, 2025, Honor confirmed Zhao’s departure, citing personal reasons, including his focus on health and family.

This leadership change follows Honor’s recent corporate restructuring in December 2024. The company transformed into a joint-stock entity as part of its IPO preparations. The restructuring strengthened Honor’s governance and capital structure, setting the stage for a public listing.

Jian Li, who played a pivotal role in the restructuring process as Vice Chairman, was named Zhao’s successor. Li’s promotion is seen as a natural progression, given his deep involvement in the company’s strategic transformation, his prior experience driving operational efficiency within Honor and his long service alongside Zhao at both Huawei and Honor.

Cracking the Global Top Five

Honor’s leadership change comes at a critical juncture for the Chinese smartphone market, where competition is fierce, and global expansion is vital. As Jian Li takes the helm, his success will depend on balancing Honor’s domestic strength with innovative strategies to crack the global top five — a goal that remains tantalizingly close yet elusive.

Topics: Corporate news executive appointments