Luckin names new chairman and CEO in power shakeup

By Emma Lee

Chinese beverage chain Luckin Coffee has named Guo Jinyi, a co-founder and the company’s acting chief executive officer as its new chairman and CEO, replacing founder and former chairman Charles Lu.

Why it matters: The power struggle in th…

Charles Lu out at Luckin, but his influence may linger

By Emma Lee

Shareholders of scandal-hit Luckin Coffee have voted out founder Charles Lu, the company’s chairman, along with three other board directors during an extraordinary general meeting held on Sunday, local media reported.

Why it matters: The remova…

Luckin’s Charles Lu survives first round of ouster

By Emma Lee

Luckin Coffee announced Thursday that Charles Lu will remain board chairman of the embattled Chinese beverage chain after a proposal to remove him from the position failed to get the number of votes needed to pass.

Why it matters: The struggle …

Luckin shares plunge 12% on second delisting warning

By Emma Lee

Shares of Luckin Coffee plunged 12.3% on Tuesday after disclosing that it received a second delisting notice from the Nasdaq exchange.

Why it matters: A second notice adds weight to the troubled coffee chain’s potential to delist. The…