Luckin Coffee ousts chairman Lu, names Guo as CEO

Luckin Coffee ousts chairman Lu, names Guo as CEO

FILE PHOTO: A Luckin Coffee logo is seen at a closed store in Beijing, following the novel coronavirus disease (COVID-19) outbreak, China, April 16, 2020. REUTERS/Tingshu Wang

Luckin Coffee Inc has ousted co-founder and chairman Charles Zhengyao Lu and replaced him with Jinyi Guo, who will also be the chief executive officer, the embattled coffee chain disclosed on Monday.