(Yicai) May 20 -- Didi Chuxing Technology said the Chinese ride-hailing giant will scrap the position of president and promote the current incumbent, Jean Liu, to permanent partner.

Liu will also step down from Didi’s board, but remain as chief people officer, the Beijing-based firm said yesterday. She will focus on talent and organization, development of supporting functions, and social responsibility work, reporting directly to Cheng Wei, chairman and chief executive.

Liu, 46, is the daughter of Liu Chuanzhi, Lenovo Group’s founder, the world’s largest seller of personal computers. She joined Didi as chief operating officer in 2014 and was promoted to president the following year. Before that, she worked for American investment bank Goldman Sachs for over a decade, reaching the position of managing director for Asia.

The investment industry veteran helped Didi secure funding through several rounds during the early years of China’s ride-hailing price wars. Under her leadership, Didi acquired rivals Kuaidi Dache and Uber China in 2015 and 2016, respectively, establishing its leading market position.

Didi went public in New York in June 2021, but delisted a year later due to cybersecurity concerns. The firm had its first annual net profit last year of CNY535 million (USD74 million), with revenue up 37 percent to CNY192.4 billion (USD26.6 billion), according to its financial report.

Editors: Dou Shicong, Emmi Laine