Smartphone maker Honor announced CEO George Zhao (pictured) resigned at a time when the company continues to prepare for a long-awaited IPO.

No explanation was given for his departure in a short statement released by the Shenzhen-based company, other than it was for personal reasons.

He will be replaced by Jian Li, who held several roles at Honor’s former parent company Huawei since 2001.

Li joined Honor in 2021, serving as vice chairman, director and president of HR.

In the announcement, the board stated it sincerely appreciates Zhao’s outstanding contributions to the company during his tenure.

Zhao has led Honor since it was spun-off from Huawei in 2020 and was notably the company’s figurehead when releasing new products.

A company listing has been discussed since the end of 2023 and, in October 2024, Reuters reported the company had secured fresh funding from investors including China Telecom.