Su Hua, a co-founder of China video-sharing and live-streaming platform Kuaishou Technology, will step down as chairman effective Oct. 29 “due to his other business commitments,” the company said in a statement on Friday evening.
Su, worth $3.4 billion on the Forbes Real-Time Billionaires List today, will remain an executive director. Before co-founding Beijing-headquartered Kuaishou, Su worked as an engineer at Baidu and Google.
Cheng Yixiao, Kuaishou’s current CEO and also a co-founder, will also serve as chairman starting Oct. 29. The former Hewlett-Packard executive is worth $2.7 billion on the Forbes Real-Time Billionaires List.
Read the full story on Forbes here.