The man behind Luckin and China’s fastest IPOs · TechNode

Troubled beverage chain Luckin fired CEO Qian Zhiya and COO Liu Jian from their positions last Tuesday after a month-long upheaval following its fraud admission in April. However, the market remains skeptical about the company’s dedication to change.

Despite the downfall of two senior executives, the man at the top is still the same. Chairman Charles Lu, or Lu Zhengyao, still holds control over the company after the leadership shuffle, although his name was removed from the company’s nominating and corporate governance committee.  

To Luckin watchers, this suggests nothing essential has changed: the company Lu built is a reflection of his personality and his network of friends.

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Written by Aakash Malu


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