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Beleaguered LeEco founder Jia Yueting resigns

'China's Steve Jobs' steps down, vows to concentrate on electric vehicles

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Jia Yueting, founder of Chinese technology company LeEco, stepped down "for the sake of employees and investors."   © Reuters

DALIAN/TOKYO --- Jia Yueting, the founder and chairman of beleaguered Chinese technology company LeEco, on Thursday resigned from the company's publicly traded arm.

Leshi Internet Information & Technology said Jia has resigned from all his positions at the company. With his stake having been seized by the courts, Jia's influence over Leshi Internet will effectively be reduced to zero unless its financing improves.

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