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Luckin Coffee Appoints Mubadala Investment Executive Philip Yifei Bao to Board

Luckin Coffee Inc. has appointed Philip Yifei Bao, Director of Private Equity China at Abu Dhabi's Mubadala Investment Company, to its board of directors. The appointment expands the Chinese coffee chain's board to ten members and deepens governance ties with the UAE sovereign wealth fund.

Published Source: GlobeNewswire

Luckin Coffee Inc. announced the appointment of Philip Yifei Bao to its board of directors, effective September 29, 2026, according to a statement released via GlobeNewswire.

Bao serves as Director of Private Equity China at Abu Dhabi's Mubadala Investment Company, where he oversees the sovereign wealth fund's direct private investments in China.

The appointment expands Luckin Coffee's board to ten members, including three independent directors. Luckin Board Chairman Hui Li stated that Bao's background in consumer sector investments will support the execution of the coffee chain's long-term commercial initiatives.

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Luckin Considers Gulf Expansion After Abu Dhabi Fund Mubadala Joins $1 Billion Deal

Chinese coffee chain Luckin Coffee is assessing an expansion into Gulf countries following an investment by Abu Dhabi's Mubadala Investment Company. Mubadala became a direct shareholder after partnering with Luckin's controlling shareholder Centurium Capital on a $1 billion deal. Luckin executives highlighted the Gulf region's repeat consumption and rising demand for health-oriented beverages.

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