LeEco founder quits as CEO

New Straits Times - - Business | World -

HONG KONG/BEI­JING: The founder of LeEco, a cash­strapped Chi­nese Net­flix-to-Tesla-like con­glom­er­ate, has stepped down as head of the group’s main listed unit amid a wider re­struc­tur­ing that seeks to iso­late suc­cess­ful busi­nesses from strug­gling op­er­a­tions.

A stock ex­change fil­ing from Leshi In­ter­net In­for­ma­tion & Tech­nol­ogy Corp Bei­jing, a Shen­zhen-listed video-stream­ing busi­ness, on Sun­day stated Jia Yuet­ing would step down as chief ex­ec­u­tive of­fi­cer but would re­main chair­man. Leshi’s fi­nance chief will also be re­placed.

Suc­ceed­ing Jia will be Liang Jun, a long-time Len­ovo Group Ltd ex­ec­u­tive who joined Leshi in 2012. Zhang Wei be­comes chief fi­nan­cial of­fi­cer, re­plac­ing Yang Li­jie, who re­signed due to per­sonal rea­sons, the fil­ing showed. Reuters

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