Luckin Coffee fails to get board approval to oust chairman

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Luckin Coffee Inc said on Thursday a proposal to remove Charles Zhengyao Lu as chairman of the embattled coffee chain's board did not get the ...

Luckin Coffee Inc said on Thursday a proposal to remove Charles Zhengyao Lu as chairman of the embattled coffee chain's board did not get the number of necessary votes from directors to pass.

FILE PHOTO: A screen displays the logo for Luckin Coffee during the company's IPO at the Nasdaq Market site in New York, U.S., May 17, 2019. REUTERS/Brendan McDermidShare this contentREUTERS: Luckin Coffee Inc said on Thursday a proposal to remove Charles Zhengyao Lu as chairman of the embattled coffee chain's board did not get the number of necessary votes from directors to pass.

 

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