Kuaishou welcomes major personnel changes again. On the evening of October 29, Kuaishou issued an announcement stating that the board of directors had agreed to the resignation of the company's co-founder Suhua as CEO, and had approved the co-founder Cheng Yixiao to assume the position since October 2021. Effective from the 29th. Su Hua will continue to serve as chairman, executive director, and member of compensation committee , responsible for formulating the company's long-term strategy. As CEO, Cheng Yixiao will be responsible for the company's daily operations and business development, and will report to Chairman Su Hua.
(the latest list of directors)
The announcement shows that as of the date of the announcement, Cheng Yixiao owns 338,767,480 Class A shares and 43,770,873 Class B shares of the company, accounting for approximately 9.12% of the company’s total issued share capital and accounting for the company’s relevant reserved matters The voting rights of shareholders’ resolutions are approximately 9.12%, and accounted for approximately 30.95% of the voting rights of shareholders’ resolutions other than relevant reserved matters. On the whole, apart from Cheng Yixiao's new position, his other positions and the company's different stock rights will not change.
According to public information, in 2011, Cheng Yixiao launched the original mobile application " GIF fast hand " for users to create and share GIFs. In 2013, Su Hua joined Kuaishou as chief executive officer, and Cheng Yixiao as chief product officer. The two jointly created the era of short video.
Su Hua (left) and Cheng Yixiao (right) joined forces to create the short video era. Source: Network
According to previous media reports, after Su Hua joined Kuaishou, under its leadership, the product was officially transformed into a short video community and joined the algorithm recommendation system at the end of the year. In 2014, GIF Kuaishou was renamed Kuaishou, and within 7 months, DAU increased from 1 million to 10 million. According to people close to the management of Kuaishou, Su Hua and Cheng Yixiao have always had their own focus and division of labor: During their tenure as CEO, Su Hua was mainly responsible for making strategic and key decisions, including strategic directions, strategic investments and acquisitions, and overall company management. Etc.; Cheng Yixiao is solely responsible for product-related affairs,Incubation of new businesses, including e-commerce, games, etc., and the maintenance and development of the ecosystem.
The announcement revealed that with the change of management positions, Su Huake is committed to the overall strategic planning and development of the group, and Cheng Yixiao can focus on supervising the group's business and operation management. This arrangement is conducive to the overall business development of the group.
Written by: Southern Metropolis reporter Xu Bingqian
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