Luckin Shareholders Achieve What Board Could Not: Chairman Plus 3 Members Ousted
Luckin Coffee (OTC: LKNC.Y) chairman Charles Zhengyao Lu survived one attempt to have him removed when the Chinese coffee shop's board failed to eject him from the scandal-scarred company, but shareholders who have seen their investment all but wiped out did the deed.
Bloomberg reports an extraordinary shareholders meeting held in Beijing on Sunday saw investors vote to remove Lu from his position along with three other directors, a rarity for companies in China.
Image source: Getty Images.
Source Fool.com
