LeEco Co-Founder and Global Vice Chairman Resigns Due to Health Reason

by Martin 1

LeEco Co-Founder Ding Lei has officially announced his resignation from the company where he has played the role of global vice chairman as well as China and Asia-Pacific chief executive for SEE Plan, the company’s electric vehicle division.

Ding made his announcement through Chinese social networking site Weibo where he cited health reasons as the cause for his resignation. He also stated that he would remain as a strategic advisor for the company’s ecosystem research center.

“I hope that the LeSee car will go into production soon and achieve success,” Ding wrote in his statement.

LeEco also released a statement soon after thanking Ding for his work and said it hoped he would come back to work with the company on its automobile division, if his health permits. Ding will be replaced by Zhang Hailiang, SEE Plan China’s chief executive and chief operating officer, according to the statement.

RELATED: Financially Troubled LeEco Gets a Lifeline, Receives $2.18 Billion Funding

The company has been plagued with financial problems lately with LeEco founder Jia Yueting revealing that it had expanded too rapidly and used up too much money, mentioning that its new venture into the automobile industry was partly to blame for its financial troubles.