Luckin Coffee Shareholders Vote to Remove Chairman, Report Says
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Luckin Coffee Inc.’s chairman, Charles Zhengyao Lu, was ousted by shareholders from the scandal-plagued Chinese company, just days after surviving an effort by some directors to strip him of control, local media reports said, citing unidentified sources.
Three other board directors including Sean Shao were also removed at an extraordinary shareholders meeting in Beijing on Sunday, according to the reports from 21st Century Business Herald and Sina, while Ying Zeng and Jie Yang will be added as independent board directors.