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China’s New Oriental fires live-streaming e-commerce platform CEO, promotes top influencer after corporate infighting
- New Oriental’s East Buy fired Sun Dongxu after he appeared to back the idea that star live-streamer Dong Yuhui was taking too much credit
- After a brief absence that incensed fans, Dong returned to the platform on Monday evening as partner and assistant to New Oriental chairman Yu Minhong
Dec 18, 2023, South China Morning Post
Chinese live-streaming e-commerce website East Buy fired its CEO after he made comments angering fans of a top influencer on the platform, ending a widely-watched corporate battle that reflects the importance of A-list sellers.
The Hong Kong-listed company was created by the famed private tutor Michael Yu Minhong as the online tutoring arm of New Oriental Education Technology Group. It pivoted to live-streaming e-commerce after its private tutoring was outlawed in 2021. Former English teacher Dong Yuhui emerged on the new platform as one of the most popular influencers in China.
Sun Dongxu, the company’s sacked CEO, became the subject of ire when he backed a social media post insinuating Dong was taking too much credit for himself because scripts came from a team of writers. East Buy said in a filing to the Hong Kong stock exchange on Monday that Sun’s mishandling of the incident hurt the firm’s brand and reputation, and that Yu, the chairman, would take over as CEO.
Replacing Sun will protect the interests of shareholders, the company said in the statement, and “allow for a more experienced director to take over the management”.
The case comes as Chinese e-commerce platforms have been forced to navigate uneasy relationships with big influencers. After betting big on popular personalities to attract consumers and drive sales, platforms are now trying to reduce their reliance on any one individual.
