Luckin Coffee Inc (LKNCY)

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Luckin Coffee Announces Senior Management Changes

Mon, August 8, 2022 at 4:00 AM

BEIJING, Aug. 08, 2022 (GLOBE NEWSWIRE) -- Luckin Coffee Inc. (“Luckin Coffee” or the “Company”) (OTC: LKNCY) today announced the appointment of Ms. Jing An as its Chief Financial Officer, effective today. Ms. An brings more than 17 years of experience in corporate finance and management, with a specialization in technology companies. Ms. An succeeds Mr. Reinout Hendrik Schakel, who has served as the Company’s Chief Financial Officer and Chief Strategy Officer since January 2019. Mr. Schakel will continue to serve as the Company’s Chief Strategy Officer.

In his role as the Company’s Chief Strategy Officer, Mr. Schakel will principally focus on long-term strategic planning and the execution of Luckin Coffee’s capital markets strategy. Mr. Schakel will work closely with the senior management team to identify and execute growth opportunities and chart the future course for Luckin Coffee.

“As Chief Financial Officer and Chief Strategy Officer, Mr. Schakel has been instrumental in our recovery and the Board and I thank him for his invaluable contributions,” said Dr. Jinyi Guo, Chairman and Chief Executive Officer of Luckin Coffee. “From stepping in to restructure and reorganize our finance team and function to spearheading our successful financial restructuring, Mr. Schakel has played a critical role in positioning Luckin Coffee for sustainable growth and success. With our financial restructuring now substantially completed, this is the right time for Mr. Schakel to focus on his role as Chief Strategy Officer. We are at a pivotal point in Luckin Coffee’s growth story, and we are thrilled to continue benefitting from Mr. Schakel’s leadership and expertise and look forward to the value he will continue to generate for us and our stakeholders in his more focused role.”

Dr. Guo added, “We are delighted to welcome Ms. Jing An as our new Chief Financial Officer. Having a senior executive with Ms. An’s vast experiences and qualifications is a testament to the caliber of our finance team today. With her expertise leading finance functions and past experience helping technology companies grow, Ms. An will be a tremendous asset as we work to further strengthen our leading market position and capture the significant opportunities that lie ahead. Our Board and senior management team look forward to working closely with Ms. An as we continue to write the next chapter of the Luckin Coffee story.”

About Ms. Jing An

Prior to joining Luckin Coffee, Ms. An served as Chief Financial Officer of 58 Daojia Inc. from 2016 to 2022. Prior to joining 58 Daojia Inc., Ms. An worked at ChinaCache International Holdings Ltd. from 2013 to 2016, where her last position was Chief Financial Officer. Ms. An has also held senior corporate finance and management positions, including at Rekoo Media Ltd. from 2010 to 2012, Cooloft Technology Ltd. from 2007 to 2009 and eFriendsNet Entertainment Ltd. from 2003 to 2006. Ms. An began her professional career at PricewaterhouseCoopers in Beijing in 1998, where her last position was Senior Accountant. Ms. An received a Master of Science degree in management from the Stanford Graduate School of Business in 2010 and a Bachelor’s Degree in economics with a major in accounting from Renmin University of China in 1998.

About Mr. Reinout Hendrik Schakel

Since joining Luckin Coffee in January 2019, Mr. Schakel has served in the dual roles of Chief Financial Officer and Chief Strategy Officer. Prior to joining Luckin Coffee, Mr. Schakel worked at the corporate and institutional banking division of Standard Chartered Bank as an Executive Director from 2016 to 2018. From 2008 to 2016, Mr. Schakel served successively as an Analyst, Associate and Vice President for the investment banking division of Credit Suisse. From 2006 to 2008, Mr. Schakel worked at PricewaterhouseCoopers in the Advisory division as an analyst. Mr. Schakel obtained a Master of Business Administration degree from Erasmus University in 2005.