In an email reply to the Wall Street Journal, Lu Zhengyao said the news was a rumor, rumor! No A spokesman for lucky declined to comment.
On the afternoon of July 5, lucky coffee held a special shareholders meeting. The meeting voted to remove Lu Zhengyao, Li Hui, Liu Erhai and seanshao. At the same time, the meeting voted to add two independent directors, Yingzeng and Jieyang.
The result of the meeting on July 5 was beneficial to Lu Zhengyao because Haode investment, a family trust controlled by Lu Zhengyao, sent a letter to Ruixing coffee asking for an independent board meeting. Ying Zeng and Jie Yang, the independent directors, were considered to be Lu Zhengyaos own.