DiDi Co-Founder Shares Exit Plans With Acquaintance: Reuters
DiDi Global Inc (NYSE: DIDI) co-founder and President Jean Liu has told some close associates she plans to exit the company, Reuters reports based on company sources.
The Goldman Sachs Group Inc (NYSE: GS) veteran holds a 1.6% stake worth $640 million and controls 23% of the vote.
Liu sees the government taking control of DiDi and appointing new management. Liu even told her close associates to start exploring new opportunities.
Liu was an essential part of DiDi's critical decisions, including Alibaba Group Holding Ltd (NYSE: BABA) backed Kuaidi merger and takeover of Uber Technologies' (NYSE: UBER) China business.
DiDi has seen intense regulatory scrutiny over user data handling, pricing strategy, and anticompetitive practices since its U.S IPO.
Liu had previously planned to quit before the regulatory crackdown to try something new.
DiDi acknowledged complete cooperation with the cybersecurity review that urged it to delay the IPO. DiDi also refuted the management change stories.
Price Action: DIDI shares traded lower by 6.99% at $7.72 on the last check Monday.
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