To put it mildly, LeEco has had its fair share of trouble lately. It ran low on cash due to aggressive growth, backed out of its Vizio takeover and threw its weight behind Faraday Future's electric cars despite some overly ambitious plans. Clearly, the company is stretching itself too thin -- and CEO Jia Yueting knows it. He's stepping down from the CEO role at his publicly listed company (Leshi Internet Information & Technology Corp) in the name of focus. He'll devote his attention to aspects like "core product innovation," "strategic planning" and his chairman role at Leshi. In other words, he won't split his attention like he did before.
Via: Reuters
Source: Shenzhen Stock Exchange (PDF)
LeEco CEO steps down but stays in charge posted first on http://ift.tt/1tUdcCk
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