Xiaomi names new president following leadership changes
Xiaomi’s current Senior Vice President, William Lu, will succeed Wang Xiang as President. Wang will retire at the end of the month but will remain as a senior consultant at the Chinese consumer electronics company.
In addition, Co-Founders Hong Feng and Wang Chuan will withdraw from the front line of business at the end of this year, while continuing to serve on the Partners Committee, which is responsible for the strategic development of the company.
The announcement was made through an internal letter by Lei Jun, Founder and CEO of Xiaomi.
“Xiaomi achieved a smooth handover of the baton iteration,” said Lei, adding that the company is “currently facing many difficulties” but will further improve operational efficiency. The reshuffle came at the end of a bruising year for China’s tech sector, which has been reeling from a regulatory clampdown and the effects of the pandemic, reported Financial Times.