Luckin Coffee chairman survives ouster vote

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By Jonathan Breen
03 Jul 2020

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

he company’s board of directors voted on Thursday on a proposal to remove Luckin’s founder Lu as a director and chairman of the board. But the motion failed to get the required two-thirds majority, according to an announcement from the firm. 

The proposal was based on a recommendation ...

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