Luckin mulls purging half its board in move to regain investor confidence

Luckin mulls purging half its board in move to regain investor confidence

FILE PHOTO: A cup of 'Luckin Coffee' coffee is poured during the company's IPO at the Nasdaq Market site in New York, U.S., May 17, 2019. REUTERS/Brendan McDermid/File Photo

Scandal-plagued Starbucks challenger Luckin Coffee Inc. has proposed a purge of half of its eight-member board, including its embattled chairman, as the company tries to regain investor confidence and avoid being delisted from the Nasdaq.

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