Didi co-founder Liu steps down after decade at helm of ride-hailing company

Didi Global Inc’s co-founder Jean Liu has stepped down from her roles as president and board director of China’s biggest ride-hailing firm to take on a new role, according to an internal company memo.

Didi, which is seen as China’s answer to Uber but has faced prolonged regulatory scrutiny, will no longer have a position of president, it said in the memo seen by Reuters.

Liu, a former Goldman Sachs banker who has been at the helm of Didi for a decade, will take on a new role as “permanent partner” and will maintain her current duties including serving as chief people officer, Liu and CEO Will Cheng said in the internal letter sent to employees on Sunday.