LeEco’s CFO Wu Lei To Leave Amid Prolonged Crisis

Wu Hui (pictured), chief financial officer at LeEco, has reportedly left the company without disclosing the reason, as the Chinese Internet company is caught amid a prolonged financial crisis.

LeEco did not immediately respond to an inquiry from China Money Network to confirm the news.

Wu joined LeEco last August, shortly after which the Beijing-based company was embroiled in a cash shortages crisis after a couple of years of aggressive expansion. He was brought in to help the company raise additional capital.

His departure, which was reported by Chinese media, may signal the depth of LeEco’s current crisis.

Prior to LeEco, Wu served as vice president and chief financial officer at Youku-Tudou, a video content platform, starting in 2015. He previously served as vice president and CFO for China and Asia Pacific region of Lenovo Group Ltd., as well as holding senior financial positions at Microsoft Greater China Region and Lenovo Mobile.

Many senior executives have left the struggling Chinese company founded by billionaire entrepreneur Jia Yueting.

Last month, Ding Lei, co-founder and chief executive officer of China of LeEco’s electric car affiliate Le Supercar, left the company due to personal health issues. In the same month, Yu Hang, chief operating officer at LeSports also left the company.

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