2 Luckin Coffee Board Members Resign
One of the most volatile consumer goods companies on the market these days, Luckin Coffee (OTC: LKNC.Y), experienced yet another big shake-up on Monday. The Chinese coffee chain announced that two of its directors, Jie Yang and Ying Zeng, tendered their resignations from the board of directors.
In the tersely worded announcement, Luckin said "thanks Ms. Yang and Ms. Zeng for their dedicated service to the Company."
Subsequent to that release, Luckin issued another stating that two of its shareholders, Lucky Cup Holdings and Fortune Cup Holdings, made a formal requisition to reinstate Sean Shao as a director. Luckin is convening an extraordinary general meeting on Sept. 2 to vote on the matter.
Source Fool.com
