Xiaomi Introduces Four New Executives Onto Its Partners Board As Company Focuses On AI and IoT

Xiaomi Introduces Four New Executives Onto Its Partners Board As Company Focuses On AI and IoT

Xiaomi chairman and CEO Lei Jun has expanded the number of senior executives on the company’s partners board with four new appointments. The partners team is seen as having tremendous influence over the company’s future direction, development, and culture.

In a letter to his staff, Lei, whose company Xiaomi ranked 422nd on the Fortune Global 500 list for 2020, announced the appointment of four senior executives onto its elite management team, according to a transcript published on Xiaomi’s public WeChat account on Sunday.

The newly-appointed partners include Xiaomi president Wang Xiang, Xiaomi senior vice president Chew Shouzi, Xiaomi vice president Zhang Feng and Xiaomi vice president Lu Weibing, who joined the company during the period between July 2015 and January 2019. With the five founding partners already on the board, Xiaomi now has a team of nine partners.

“The partnership system is a collective decision-making mechanism for Xiaomi’s core corporate affairs and is responsible for passing on the company’s cultural values,” Lei said in letter.

Lei added that the four new partners will inject new energy into Xiaomi’s push in implementing its new 10-year strategy focusing on smartphones, artificial intelligence (AI) and Internet of Things (IoT).

In January, Lei said that Xiaomi will invest at least 50 billion yuan ($7.2 billion) in 5G, AI and IoT over the next five years as part of ongoing efforts to create an ecosystem of interconnected products and services supplied by itself and its partner companies.

In the first quarter of 2020, the number of devices (excluding smartphones and laptops) connected to Xiaomi’s IoT system increased 42.6% year-on-year to 252 million units, according to the company’s quarterly earnings report.

Contact reporter Ding Yi (yiding@caixin.com)

Related: Xiaomi Increases Investment in IoT Company

(Excerpt) Read more Here | 2020-08-17 05:05:30
Image credit: source

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