Bulletin
Investor Alert

Market Pulse Archives

July 13, 2020, 4:55 p.m. EDT

Luckin Coffee gets a new CEO, board chair

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Luckin Coffee Inc. ADR (LKNCY)

or Cancel Already have a watchlist? Log In

By Claudia Assis

LKNCY

Luckin Coffee Inc. /zigman2/quotes/212253358/composite LKNCY -3.30% said Monday its board has appointed Jinyi Guo, a board member and former acting chief executive officer, as the board's chairman and company's CEO, ending weeks of internal strife at the Chinese coffeehouse chain. Luckin also appointed two independent board members and announced the departure of four others. The board last month called for the ousting of then-Chairman Charles Zhengyao Lu, who in turn had asked for the ousting of a board member involved in an ongoing internal probe. The company has been under investigation for financial misconduct and its American depositary shares have lost more than 90% this year. The turmoil also contributed to a delay in the company's annual report. The ADRs rose 0.3% in the extended session Monday after ending the regular trading day down 22%.

/zigman2/quotes/212253358/composite
US : U.S.: OTC
$ 2.20
-0.08 -3.30%
Volume: 1.52M
Aug. 13, 2020 3:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$569.94 million
Rev. per Employee
N/A
loading...

Get news alerts on Luckin Coffee Inc. ADR — or create your own.
This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.