Xiaomi replaces head of China after dissapointing results

Nieuws Mobiel China 3 DEC 2019
Xiaomi replaces head of China after dissapointing results

Xiaomi has announced a number of executive shuffles, notably the replacement of co-founder and chairman Lei Jun as the company’s president for the China region by Lu Weibing. Lei will remain as the company’s chairman and CEO. China’s Time Weekly said the chairman was stepping down from his China role on the back of a decline in the company’s smartphone market share since he took up the position in May, TechNode reported. For the third quarter, the company noted a slowdown in revenue growth, with smartphone revenues down almost 8 percent.

Lu Weibing used to lead the company’s international business; he will continue with his responsibilities as GM of the Redmi brand, Xiaomi said. The company’s other co-founder, Li Wanqiang, who used to be in charge of Xiaomi’s marketing and brand strategy, has resigned. He will retain an advisory role with senior VP Qi Yan, who will be taking his retirement.

Wang Xiang, senior VP for the group and head of global business, has been promoted to group president. Link Bin was made vice chairman of the board. Former CFO Shou ZXi Chew will head the company’s overseas business. 

All of the changes took effect on 30 November.

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