Jia Yueting, who founded China’s LeEco, is transferring many of his responsibilities in order to help the company better focus on products.
The biggest step in this process, Jia has stepped down as the CEO of Leshi, LeEco’s main business unit. He remains the chairman and CEO of LeEco. Leshi is the part of the company that provides internet and video services in China
While many in the west think of LeEco as the maker of TVs, smartphones, and electric cars; The first success and core of the firm is the Leshi unit that provides internet and video services in China. the TV and electric car business have been to blame for LeEco’s finances and cash crunch
Former Lenovo executive Liang Jun will take Jia’s place at the helm of Leshi. At the same time, Leshi’s CFO, Yang Linjie, will be replaced by Zhang Wei. Jia gave the change a positive spin, suggesting that he’ll be able to provide the proper amount of guidance to the business units he now governs.
