03 December 2019
Xiaomi co-founder and chairman Lei Jun has reportedly stepped down from being the president following a leadership reshuffle inside the company. An internal letter circulated last week has reportedly disclosed more roles and reshuffle details. So, besides Lei, the company has interchanged several other executive roles. However, according to the tech site Technode which is citing the Chinese newspaper Time Weekly and has shared that Lei Jun will remain in his role as CEO at Xiaomi.
According to the details which have been surfaced out from the internal letter, Lu Weibing, the former brand manager for the company’s budget phone spin-off brand Redmi, will replace Lei as the company president for the China region. Also, there are several other positions that will now be run by other top executives of the company.
According to Technode, Wang Xang, who led the company’s international business has now been promoted as the president of the company and Lin Bin is now vice-chairman who was a former president. Also, Former chief finance officer Shou Zi Chew now leads the company’s overseas business.
In the letter, Lei Jun has reportedly also shared the reasons for this major adjustment. According to Jun, next year will be a crucial year for the company as it is stepping into one of the major techs of today that is 5G. Jun states “We need more powerful group management support It is necessary to continue the organizational innovation vitality brought by the cadre rotation mechanism.”
While he addressed the upcoming requirement, the other fundamental conditions haven’t been uttered which are also the cause of this major shuffle. Xiaomi saw a decline in its smartphone shipments and market share in the Q3 2019. Its growth got majorly impacted by Huawei in China, so it is being estimated that this is also one of the many reasons why Xiaomi considered doing a rearrangement of the positions.
New ideas and paths will be conceived with the help of the expertise of the top executives of the company. Let’s see how it goes and how the reshuffle will help Xiaomi to lead its way.