MIT-educated Philip Kuai, founder of delivery firm Dada Nexus, is the latest young Chinese tech entrepreneur to retire

Kuai, who received a master’s degree in logistics engineering from Massachusetts Institute of Technology, resigned from Dada in favour of ‘personal pursuits’. Dada vice-president Jeff He Huijian will become president and take over daily operational management, according to a company statement. — SCMP

Philip Kuai Jiaqi, the 39-year-old founder of JD.com delivery affiliate Dada Nexus, has resigned from his chairman and CEO positions, becoming the latest young Chinese tech entrepreneur to retreat from the executive office.

Kuai, who received a master’s degree in logistics engineering from Massachusetts Institute of Technology (MIT), will give up his corporate roles at the Nasdaq-listed Dada in favour of “personal pursuits”, according to a statement on the company’s website.