On the move

Leshi names Sunac's Sun Hongbin as chairman

Leshi Internet Information and Technology Corp has appointed Sun Hongbin as its new chairman. He is also the chairman of Sunac China Holdings, a shareholder in Leshi. Jia Yueting, founder of Leshi's parent company LeEco, resigned all his posts at Leshi earlier this month since most of his shares were frozen due to unpaid debt. Sun and other investors invested 16.8 billion yuan ($2.5 billion) in LeEco early this year, but that didn't ease the situation. Liang Jun, a manager in charge of LeEco's smart TV business, has been appointed the legal representative of Leshi.

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