Luckin Coffee chairman survives ouster vote

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Luckin Coffee chairman survives ouster vote

Jonathan Breen
July 03, 2020 09:00 am
Luckin_Coffee 575x375
Luckin coffee is located in a store in Hangzhou, Hangzhou, Zhejiang Province, China, April 3, 2020. Luckin coffee announced on the evening of the 2nd that the sales volume related to the forgery transaction was about 2.2 billion yuan. As a result, Luckin coffee shares plummeted, down 75\%. (Photo by Long Wei / Costfoto/Sipa USA) | Costfoto/SIPA USA/PA Images

Lu Zhengyao will remain chairman of Chinese chain Luckin Coffee after a vote to remove him went in his favour.

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Jonathan Breen
Equities editor GlobalCapital Asia
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