Wang Xiang, a Qualcomm executive before joining Xiaomi in 2015, will step down as president on Dec. 30, Xiaomi co-founder and chairman Lei Jun wrote in a letter to employees on Thursday.
Wang’s role will be replaced by Lu Weibing, who joined Xiaomi in 2019 to lead the Redmi sub-brand, the letter said. Lu, 46, has expanded his powers in recent years, serving as president of China and head of the international division, according to Xiaomi’s website.
Lei Jun did not say whether the change would affect the company’s electric vehicle program. In early 2021, Lei Jun announced that he would invest about US$10 billion in producing Xiaomi-branded cars within ten years. Since then, he has largely retreated from the public eye to spend time working on his electric car project.
The surprising news was the latest round of restructuring at Xiaomi, whose sales fell about 10% in the September quarter due to slowing global smartphone demand. Earlier this month, a senior executive in India left the company amid heightened regulatory scrutiny and competitive pressure.