Fu Xiaoming, chief government relationship officer, one of the eight executives at hotel chain operator OYO China has resigned, 36Kr reports.
Before joining OYO China, Li served multinational companies including Ericsson, Amway, Johnson & Johnson, and Walmart. He has more than 30 years of working experience.
A current employee of OYO China told 36Kr that Fu asked for leaving the company voluntarily due to factional fights between executives.
OYO China has not responded to KrAsia‘s request for a comment on this matter.
The India startup has faced bad press on its China business recently, including a wave of layoffs and financing difficulty. But the firm refuted these claims. It argued that layoffs were part of a strategy shift and that its financial situation is sound.
OYO China is part of the India-heatquartered OYO Rooms, which is backed by SoftBank and Airbnb, among others. It’s one of India’s most valuable startups and has raised USD 1.7 billion to date.
The strategy shift at OYO China involves a change from a loose franchising model to a tight controlling model, the firm told KrAsia on Tuesday.
36Kr is KrASIA’s parent company.
