Didi has been the focus of crazy rumors and contradicting information since the Chinese authorities cracked down on the company in July. The newest? Jean Liu, president and co-founder of Didi Global, was preparing to leave, according to a telegram from Reuters published on 09/20 The company formally denies.
Jean Liu, the star of Didi
For Didi, Jean Liu is not just anyone, daughter of the founder of Lenovo and a former banker of Goldman Sachs, she was instrumental in making the company what it is. In 2014 she joined the company, still called Didi Dache, and in the following year she participated directly in the merger with competitor Kuaidi. She also participated in spectacular fundraising drives and was involved in the acquisition of Uber in China.
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Jean Liu owns 1.6% of the shares, or currently $ 640 million, and controls 23% of the company’s votes. Didi has an essential person who, according to several sources from ReutersHe reportedly informed his close associates of an impending departure. She would have encouraged them to look for new opportunities.
Reuters also reports that the decision is linked to fears of an imminent government takeover and management replacement. Didi directly denied the information from the press company. the South china morning post reports that the company publicly responded on Weibo, China’s Twitter. The rumor of Reuters The information on the change in leadership at Didi is inaccurate “. To use the name of a media company in this way would be an extremely rare act for Didi, according to the Hong Kong newspaper.
Beijing holds a grudge
The company has been in turmoil since it went public in New York on June 30th. According to observers, Didi was wrong in forcing the operation despite a motion to suspend the powerful China Cyberspace Administration (CAC). The latter wanted to do a cybersecurity review to assess Didi’s privacy.
Since then, China’s Uber has moved from sanction to sanction, the CAC and six ministries are conducting an in-depth investigation into the collection and use of users’ personal data, pricing mechanisms and anti-competitive practices.
Neither Didi nor the authorities communicate the results of these controls, which is fueling speculation around the company. It would be about to leave the New York Stock Exchange, its data management would be taken over by Beijing, and the government would like to take over the company …
The departure of Jean Liu is therefore the latest speculation. Reuters acknowledges that the person concerned did not want to speak and that no official documents regarding the resignation have been found. Jean Liu’s departure, like the other rumors, doesn’t seem so outlandish as Beijing attacks Didi. For the time being, however, nothing has happened.