TuSimple Brings Cheng Lu Back as CEO
[Stay on top of transportation news: Get TTNews in your inbox.]
Cheng Lu will be returning to TuSimple as CEO and president, replacing Ersin Yumer, who had been serving as the interim CEO and president.
TuSimple co-founder Mo Chen also has been named executive chairman of the board.
The announcement comes a couple weeks after the self-driving truck technology developer terminated CEO Xiaodi Hou in connection with an audit committee investigation that led the board of directors to conclude that a change of CEO was necessary.
“I’m returning as TuSimple’s CEO with a sense of urgency to put our company back on track,” Lu said. “We’ve dealt with turmoil this past year, and it’s critical that we stabilize operations, regain the trust of our stakeholders and provide the talented team at TuSimple with the support and leadership they deserve.”
Hou also served as president and chief technology officer as well as chairman. His termination from those positions was made effective Oct. 30. He also has been removed as a member of the government security committee. The FBI and the Securities and Exchange Commission had reportedly launched an investigation into whether company executives improperly shared proprietary technology with a startup based in China.
Hou denied any wrongdoing.
Lu previously served as CEO from September 2020 to March 2022. TuSimple said his tenure was a period of important milestones for the company. That includes the launch of the Autonomous Freight Network, key partnership deals and a successful IPO. — Transport Topics
Want more news? Listen to today's daily briefing below or go here for more info:
