Home » Markets » Luckin Coffee chairman ousted by shareholders: report
Luckin Coffee chairman ousted by shareholders: report
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(Reuters) – Luckin Coffee Inc Chairman Charles Zhengyao Lu has been ousted by shareholders from the embattled coffee chain, just days after a proposal to remove him failed to get board approval, Bloomberg News reported on Sunday, citing Chinese web portal 163.com.
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Three other board directors including Sean Shao were also removed at an extraordinary shareholders meeting in Beijing on Sunday, the report said.
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Ying Zeng and Jie Yang will be added as independent board directors, the report added.
Luckin Coffee declined to comment.