“Didi Global co-founder and President Jean Liu has told some close associates that she intends to step down […] as the Chinese ride-hailing giant faces intense regulatory scrutiny following its New York listing earlier this year,” Reuters reported, citing two sources with knowledge of the situation.
Details:
- The executive has reportedly told associates that she expects the Chinese government to take control of the ride-hailing firm and name new people to head the company.
- Didi commented on the Reuters report, saying the “rumors about management changes are untrue and unsubstantiated.” Didi also said it’s complying with cybersecurity reviews from regulatory bodies.
Dive deeper:
- The development follows a probe by China’s Ministry of Transport, along with other regulators, into local ride-hailers including Didi over allegations that the firms are conducting illegal operations.
- Chinese regulators have also recently called for an order to ban Didi Global’s app over user data collection concerns.
Editing by Lorenzo Kyle Subido
(And yes, we’re serious about ethics and transparency. More information here.)
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