Xiaomi's President, Wang Xiang, will be retiring at the end of the month. He will be succeed by William Lu, the Chinese consumer electronics company's current Senior Vice President.
The announcement was made through an internal letter penned by Xiaomi founder, Lei Jun. He announced that Wang Xiang will continue to serve the company as a senior consultant after he retires.
As reported by Pandaily, company co-founders Hong Feng and Wang Chuan, will also step back from the frontlines of the business but they will remain as members of the Partners Committee.
In the same report, the publication says that Wang Xiang will now head to Rong Semiconductor (Ningbo) Co., Ltd. The company was established in April 2021, and Xiang has already been named as Director.
Speaking on William Lu, the man succeeding Xiang as President, Lei Jun stated that he had known Lu "for many years," and he has a "lot of experience in the mobile phone industry and considerable industry influence".
"Since joining Xiaomi in early 2019, William has gained recognition and respect from the group management. He served as the head of the Redmi brand and the president of Xiaomi China, and then led the three major business divisions of Xiaomi China, International Department and Xiaomi India.” Lei Jun stated in the letter to staff.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
