tusimple co-founder take control
TuSimple Co-Founder Takes Control of Self-Driving Trucking Company
TuSimple Holdings Inc. co-founder Mo Chen has taken control of the self-driving trucking company as federal authorities continue to investigate TuSimple's relationship with Mr. Chen's other startup, a Chinese hydrogen-trucking company. A TuSimple filing with the Securities and Exchange Commission on Wednesday shows that Mr. Chen has 59% of the voting power at the San Diego-based company, giving him control as of Nov. 9, a day before the company announced it had ousted its board of directors. Mr. Chen acquired the stake through stock purchases using his family trust and British Virgin Islands-based entities, according to the securities filing. TuSimple's newly appointed chief executive officer, Cheng Lu, said, "We have a strong sense of urgency to put our company back on track and regain trust from all stakeholders." A weekly digest of tech reviews, headlines, columns and your questions answered by WSJ's Personal Tech gurus.
- North America > United States > California > San Diego County > San Diego (0.25)
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- Banking & Finance > Trading (1.00)
- Transportation > Ground > Road (0.83)
- Transportation > Freight & Logistics Services (0.83)
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