Immediately prior to his promotion, Mr. Chen was a vice president of New Energy’s Anytone division, and was also a co-founder of Anytone, which New Energy acquired in December 2009.

His responsibilities at Anytone included oversight of research and development, engineering, production and quality control. The company said that during his tenure, Anytone grew from a start-up to one of the largest ODM manufacturers of backup power systems for portable electronics in China.

Prior to joining Anytone, Mr Chen served for more than five years as vice president of Shenzhen Vogue Industries, a manufacturer of portable electronics.

Weihe Yu, chairman of New Energy, said: “I am extremely pleased to promote Nian Chen to the role of CEO. I have known and worked with him for over 5 years, and I am confident that our company will benefit from his deep understanding of the consumer electronics industry.

“In addition, our rapidly growing company will benefit from his strong operational and managerial skills. We have been planning this leadership change for some time and consequently anticipate a seamless transition.”