Lei Jun Steps Down as Chairman of Xiaomi Electronics

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Yusuf Balogun
Yusuf Balogun
Yusuf is an aspiring Journalist and Health law expert with a special focus on technology innovations. He is a writer at Right for Education, Libertist Centre for Education, Qwenu, and Editor at Gamji Press, UDUS.

Several reports from foreign media today have revealed that Lei Jun resigned as the chairman of Xiaomi Electronics Co., Ltd. Lin Bin, along with other co-founders who too, quit the company.

Beijing Xiaomi Electronic Products Co., Ltd. was established on January 9, 2012, with Lei Jun alongside seven other co-founders with a registered capital of 27 million US dollars. The eight founders include Lei Jun, Lin Bin, Li Wanqiang, Zhou Guangping, Huang Jiangji, Liu De, Hong Feng, and Wang Chuan.

On several occasions, Lei Jun had withdrawn from director roles at various Xiaomi-backed firms. In 2021, Lei Jun withdrew from the position of Executive Director of Chongqing Xiaomi Commercial Factoring Co. Ltd, as well as the position of Chairman of Xiaomi Credit Management Co. Ltd. and the Director position of Shanghai Xiaomi Financial Information Service.

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According to the Qichacha APP. Lei Jun resigned as chairman of Airstar Bank’s board of directors in June of last year. Some observers thought it had something to do with Xiaomi’s car-making company at the time.

Xiaomi’s business has grown significantly since last year’s announcement of car production, and Lei Jun will devote more time to automobile development.

Xiaomi has currently created two-vehicle companies with Lei Jun serving as their legal agent.

Simultaneously, Xiaomi’s organizational structure is constantly changing. According to estimates, more than 30,000 Xiaomi employees got the 35th internal letter to alter the organizational structure and personnel appointments as of December last year, which was more frequent than in 2020.

Xiaomi is a Chinese-based technology company specialized in electronics and related software, home appliances, and household items. It is the second-largest manufacturer of smartphones, most of which run the MIUI operating system.

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