Xiwu statement: Thomas Yao appointed new CEO, Xing Chenyue’s role unchanged

The following is Xiwu's official statement:

Thank you for your attention to Xiwu.

This change is a normal management adjustment. Chen Min will continue to support Xiwu's growth as a director and advisor, while Thomas Yao has been appointed as the new CEO.

Thomas is one of Xiwu's founders and an investor active in both Silicon Valley and China. He focuses on innovative technologies in the consumer sector, has previously founded four technology companies, and helped incubate projects including Lime, one of the largest shared scooter companies in Europe and the United States.

Thomas holds dual master's degrees from Stanford Graduate School of Business and the University of Michigan College of Engineering, and earned his bachelor's degree from Fudan University in China.

Xiwu's Chief Scientist, Xing Chenyue, who holds a PhD in Chemical Engineering from the University of California, will remain in his current position. Xiwu's core team remains unchanged.