LeEco’s global head of corporate finance is leaving, according to a person familiar with the matter, the latest sign of retrenchment by the Chinese technology giant. According to Bloomberg, Winston Cheng, who joined LeEco in 2015, will be president of international at Chinese e-commerce company JD.com, leading new business initiatives including investments and mergers and acquisitions, the person said. LeEco declined to comment. JD.com didn’t respond to a request for comment on Friday. LeEco’s ambitious international expansion plans have suffered from a cash squeeze and other roadblocks. Cheng played a key role in LeEco’s proposed acquisition of TV maker Vizio for $2 billion, a deal that the company said fell apart because of regulatory hurdles. LeEco’s US plans have also been set back by lackluster sales, job cuts, and delayed payroll to US employees.
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