As a cold shower came the news that Lei Jun has resigned as president of the Xiaomi company for China, through an internal letter to his staff. Therefore a reorganization was needed that touches the seats of well 7 executives of the Chinese company.
Xiaomi smartphone shipments in China fell by 20% on an annual basis in the second quarter and 33% by third quarter with a reduction in 9% market share in six months, according to reports from Canalys, a specialist in research market. Negative performances came when rival Huawei increased marketing at home, given the shifts in international sales caused by the export ban in the United States, recording a record market share of 42% in the third quarter (data on Chinese soil) .
Returning to Xiaomi's managerial issue, Lu Weibing, former brand manager of the Redmi brand, will replace Lei Jun as company president for China, also documented by the Chinese financial newspaper Time Weekly.
Reorganization in Xiaomi: Lu Weibing is promoted and Lei Jun leaves his leading position in China
Wang Xiang, who used to manage the company's international business, is promoted to president of the company, while former president Lin Bin is appointed vice president of the board, according to the letter signed by Lei Jun. Former financial director Shou Zi Chew now manages the company's foreign operations.
Co-founder Li Wanqiang, who was responsible for Xiaomi's marketing strategy and brand, resigned from the company while senior vice president Qi Yan retired. Lei Jun has maintained her role as company president and will be the managing director, thus continuing with the role she has already held.
But if in China the financial market has led to a change in management, in the world, Xiaomi has recorded an annual growth of 5,5% in the third quarter 2019, not exaggerated like the previous years, but still a good result. The slowdown is also due to the fact that overall smartphone sales fell by 8% on an annual basis, due also to the lack of the WOW effect. Good instead in Europe, where Xiaomi records a surge of 73% in sales.
