LeEco Management Reshuffle Signals End to Untethered Overseas Expansion

Entertainment firm LeEco announced on Tuesday that it will be replacing the head of its Asia-Pacific operations, the company's second top-level change in five days.

The move aims to reassure investors that it will rein in its aggressive expansion plans, a recent cause of investor concern.

In a letter to employees, LeEco said that the personnel change marked the second stage in the company's strategy to place more emphasis on maintaining a healthy cash flow over rapid expansion by "temporarily putting a hold on expansion in the Asia-Pacific market."