Su Hua Resigns as Chairman and CEO of Kwai Technology Cheng Yixiao
On October 20, it was reported that Kwai Technology announced in the Hong Kong Stock Exchange that Su Hua would resign as chairman, and Cheng Yixiao, CEO, would also serve as chairman. The adjustment would take effect on October 29, 2023
On October 20, it was reported that Kwai Technology announced in the Hong Kong Stock Exchange that Su Hua would resign as chairman, and Cheng Yixiao, CEO, would also serve as chairman. The adjustment would take effect on October 29, 2023. The announcement shows that due to the need to focus on other matters, from October 29, 2023, Su Hua will no longer serve as the chairman of the board of directors and will continue to serve as an executive director and a member of the compensation committee, with no change in their voting rights.
Su Hua said that he would continue to be committed to creating long-term value for the Group and believed that the Group had a solid foundation to achieve its strategic goals.
On October 29, two years ago, Kwai Technology announced that Suhua and Cheng Yixiao had adjusted their division of labor. Suhua resigned as CEO and continued to serve as chairman, executive director and member of the remuneration committee, responsible for formulating the company's long-term strategy; Cheng Yixiao became the CEO, responsible for the daily operations and business development of the company.
It is reported that after Cheng Yixiao becomes the chairman, his different voting rights will not change. The board of directors believes that having the same person concurrently serving as the chairman and CEO can ensure the implementation and leadership of the group in promoting long-term strategy, further deepen the group's liquidity, and optimize the group's operational efficiency. (One Orange)
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