George Zhao, the CEO of Chinese smartphone maker Honor, has announced his resignation, citing personal health reasons. In a heartfelt message shared on the company’s internal forum, Zhao revealed that stepping down was “the most difficult decision” of his life, but one necessitated by the need to rest and prioritize time with his family.

Zhao’s departure comes at a pivotal moment for Honor as the company is navigating significant milestones, including its preparation for an initial public offering (IPO). Honor confirmed the leadership change in an official statement, expressing gratitude for Zhao’s immense contributions during his tenure. "The company and the Board of Directors sincerely appreciate Mr. Zhao’s outstanding contributions to the company during his tenure," read the statement.

Zhao has been at the helm of Honor since 2020, the year the company was spun off from Huawei to operate independently. Under his leadership, Honor successfully rebranded itself as a competitive global player in the smartphone market.

One of Zhao’s most notable achievements was steering Honor’s international expansion. Last year, the company became the leading foldable handset manufacturer in Western Europe, surpassing industry giant Samsung. In its home market of China, Honor was the fifth-largest smartphone vendor in 2023, holding a 15% market share behind Vivo, Huawei, Apple, and Oppo.

Zhao’s leadership also saw Honor announce its intentions to go public, a move first disclosed in November 2023. In line with this plan, the company restructured its shareholding and changed its name to a joint-stock limited company last month, signaling its readiness to enter the public markets.

Jian Li, a senior executive who has been with Honor for four years, will take over as the company’s new CEO. While Honor did not elaborate on Li’s vision for the company, his appointment is expected to provide continuity as the company continues to solidify its position in the competitive smartphone market.

Li’s leadership will be crucial as Honor moves closer to its IPO and seeks to maintain the growth momentum achieved under Zhao. The company has positioned itself as a serious contender in the global smartphone market, with innovations in foldable technology and an expanding footprint in key international regions.