Magna Appoints Li Yaxu as New President for China Region

[Leadership Change] Wu Zhen, former President of Magna's China region, has been appointed Vice President, International, with Li Yaxu stepping in as her successor.

Key Development: Li Yaxu Takes the Helm in China to Strengthen Local Strategy Execution

Li Yaxu, who joined Magna in 2005, has held roles including Engineering Director, General Manager of the Changchun Plant, and Vice President of Body & Chassis Systems for China. In his new role as President of Magna China, he will retain his previous responsibilities to ensure tight alignment between core technologies and overarching strategic goals.

Key Metrics: China Sales Down 14%, Leadership Change Driven by Performance Pressure

Despite a 7% year-over-year increase in China’s light vehicle sales in 2025—reaching 32.89 million units—Magna’s China-region revenue declined from $5.6 billion to $4.8 billion, a $800 million drop, highlighting intensifying local competition.

Strategic Rationale: Wu Zhen Moves to Europe to Support Chinese Automakers’ Global Expansion

With a legal background, Wu Zhen will be based in Europe as Magna’s Vice President, International, leveraging her expertise in global compliance to provide localized support and market-access solutions for Chinese automotive brands expanding overseas.