Three co-founders of ride-hailing service Yidao Yongche (易到 in Chinese), announced their resignations today in a joint statement, following a recent spat between Yidao CEO Zhou Hang and the company’s controlling shareholder LeEco, our sister site TechNode Chinese is reporting.

In the joint statement, the three co-founders Zhou Hang, Yang Yun and Tang Peng said that they started to fade out from the management since LeEco appointed Peng Gang as Yidao’s president last June. They stayed with the company (job titles retained and a token amount of compensation paid but had no real power) to help facilitate financing and ensure a smooth handover of the company at the request of LeEco but found only unwanted interference and their reputations being maliciously attacked.

LeEco bought a 70% stake in the ride-hailing service in October 2015 and became its controlling shareholder.

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Sheila Yu

Sheila Yu is a Shanghai-based technology writer. She brings readers the biggest news from Chinese language tech media. Reach her at sheila@technode.com.