Luckin Adopts New Board Term Limit, Appoints Four New Directors

Luckin Coffee says its board unanimously voted to subject each director to re-appointment by the board at its next meeting, and to impose a two-year term on each re-appointed director and any director appointed in the future in the interest of better corporate governance.

• Two directors, Wai Yuen Chong and Gang Wu, have resigned at the end of their current term; Chong to serve as external strategic adviser to co. and Wu to focus on role as senior VP of company
• Board also appointed four new directors: Weihao Michael Chen, Shaoqiang Gary Liu and Jun Liu from Centurium Capital and ...