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Ofo founder renounces position amid mounting lawsuits

Oct 23, 2018 by The Passage Team
Ofo founder renounces position amid mounting lawsuits

Dai Wei, founder and chief executive of Chinese bike-sharing services pioneer ofo, has renounced his position as the start-up’s legal representative after the company was slapped with lawsuits over unpaid bills by suppliers.

Beijing-based ofo has named Chen Zhengjiang, head of the firm’s hardware supply department and one of its first five employees, as the new legal representative.

The replacement follows Shanghai Phoenix Bicycles’ lawsuit over USD 10 million in unpaid bills. ofo also faces lawsuits filed by Tianjin Flying Pigeon Cycle Manufacturing and two logistics firms.

Source: SCMP

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