Didi Global Inc Co-Founder Jean Liu Steps Down as President

According to an internal company memo, Jean Liu, co-founder of Didi Global Inc., has stepped down from her roles as president and board director of China’s largest ride-hailing firm to assume a new role. 

Didi announced that the president’s position would no longer exist, marking a significant shift in the organization’s leadership structure.

New Role and Responsibilities:

A former Goldman Sachs banker with Didi for a decade, Liu will transition to “permanent partner.” She will resume serving as the company’s chief people officer and maintaining her current responsibilities. 

In an internal letter to employees, Liu and CEO Will Cheng expressed that she would focus more on the company’s long-term development, emphasizing talent and corporate social responsibility.

Contributions to Didi’s Growth:

Liu was pivotal in several key financial and strategic decisions during her tenure. She was instrumental in Didi’s 2015 merger with Alibaba Group-backed Kuaidi, the acquisition of Uber Technologies Inc.’s China business, and the securing of investments from major investors, including Apple Inc. Liu’s leadership was crucial in steering Didi through significant milestones and challenges.

Regulatory Challenges and Recovery:

Didi has faced intense regulatory scrutiny, particularly following its pursuit of a U.S. initial public offering in 2021 without obtaining the necessary approval from Chinese authorities. 

This led to an inquiry by a cyberspace regulator, who prohibited the company from adding new users and removed many of Didi’s apps from major app stores. 

In July 2022, Didi was fined $1.2 billion for data security violations. However, after receiving permission to relaunch its apps, the company began to recover in early 2023.