Luckin Coffee fires CEO & COO after sales fraud investigation

Luckin Coffee fires CEO & COO after sales fraud investigation

Luckin Coffee said on Apr 2nd, that an internal probe found that its COO Liu had fudged 2019 sales by ~$310mn. Hence it has fired its CEO & COO as part of an internal investigation into sales fraud. Thereby Qian, Luckin’s former CEO, and Liu, its former COO, have resigned from the company’s board. The board in interim appointed Jinyi Guo, a board member and a senior VP, as acting chief executive.

Milan
Milan
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