BEIJING (BRAIN) — Dai Wei, the founder and chief executive of Chinese bike-share giant Ofo, has stepped aside as the company's top legal representative as Ofo faces multiple lawsuits in China.
Ofo has named Chen Zhengjiang, the head of its hardware supply department, as the new legal representative.
Shanghai Phoenix Bicycles is suing Ofo over allegedly unpaid bills totaling about $10 million. According to the suit, Ofo had agreed to buy 5 million bikes from Shanghai Phoenix Bicycles, but bought fewer than 2 million bikes during the contract period. Ofo is also being sued by Tianjin Flying Pigeon Cycle Manufacturing and logistics services providers Best and Deppon Logistics over contract disputes.
Ofo said in a statement that the change of legal representative was made "to streamline office operations and improve office efficiency." Dai remains the company's controller.
