LeEco reshuffles executive team of listed arm Leshi

Chinese internet major LeEco said it is reshuffling the executive team of its listed arm, Leshi Internet Information & Technology Corp - as the tech conglomerate continues to struggle with a cash crunch issue.

LeEco founder Jia Yueting will step down as chief executive, but remain as chairman, with the company's finance chief also to be replaced, according to a stock exchange filing on Sunday.

The board has approved Liang Jun, who once worked at Lenovo Group Ltd and joined Leshi as an executive in 2012, to replace Jia as CEO.