The director and two co-founders of Xiaomi are leaving – Tablets and phones – News

Xiaomi director Wang Xiang has resigned, as have two founders of the Chinese technology company. Lu Weibing becomes the new director of the company. The change at the top would take place due to the disappointing results of the past year.

According to an internal letter that has been viewed from the Financial Times, the director Wang Xiang resigns immediately. Furthermore, two founders of Xiaomi, Hong Feng and Wang Chuan, are stepping back within the company. They no longer interfere with operational matters within the tech giant.

Lu Weibing takes over from Wang Xiang. He has been responsible for the Redmi brand, which falls under Xiaomi, for the past three years. The internal letter also claims that Xiaomi is currently in dire straits. Just like many other tech companies.

This refers to the company’s disappointing results over the past year. Xiaomi’s sales fell by almost ten percent in the third quarter. Xiaomi has therefore also announced a large round of layoffs. The tech giant would like to lay off 10% of its employees.