After Xiaomi’s organizational shuffle, bike rental platform Mobike has announced some shifts in its staff too. Mobike’s founder Hu Weiwei is set to become the new CEO of the company taking the place of Davis Wang.

Wang co-founded the bike rental platform in 2015 after serving as General Manager of Uber Shanghai. In an internal letter, Wang said that he is retreating from the company to spend more time with his family. Wang will remain a personal advisor to the company. The internal memo from Mobike states:

The news comes not a month after China’s largest O2O platform Meituan Dianping announced its purchase of Mobike for $2.7 billion on April 4th. The acquisition was mired with rumors. News that Mobike’s management team is exiting the company soon broke out but were swiftly denied by Meituan’s CEO Wang Xing. In an internal letter, Wang Xing said that the company would continue to operate its own brand and work independently with no changes to leadership. TechNode’s Chinese sister site also learned that Mobike staff would receive a salary increase, presumably to prevent losing their personnel.

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Masha Borak

Masha Borak is a technology reporter based in Beijing. Write to her at masha.borak [at] technode.com. Pitches with the word "disruptive" will be ignored. Read a good book - learn some more adjectives.