Chinese billionaire Li Shufu has relinquished his role as chairman of Geely Auto, describing the planned succession as the foundation for the future sustainable growth of the country’s second-largest carmaker. Li, the 63-year-old founder of the automotive group, announced his resignation just after Hong Kong-listed Geely reported record first-half revenue in China’s cutthroat car market on Monday. Andy An Conghui, 56, an executive director, would fill in the vacancy left by Li, effective on...