Quick Take: Sunac’s Sun Resigns as Leshi Chairman

Sun Hongbin, chairman of cash-strapped Leshi Internet Information & Technology, has resigned from the post, Leshi said in a statement Wednesday.

Sun, chairman of property developer Sunac China Holdings, was appointed to head Leshi, the listed arm of embattled LeEco, in July 2017, after Jia Yueting stepped down.

Leshi said in the statement that the company has received Sun’s resignation. He will step down as the company’s chairman and from the board. Sun will no longer take any post in Leshi due to work adjustments, the statement said.