China’s Tianqi Lithium Corp said its president Vivian Wu has left the company, as the indebted producer of a key commodity for electric-vehicle batteries looks for a way out of a perilous financial situation

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Her departure marks the end of a difficult two years for the executive, who was a key figure in Tianqi’s acquisition of nearly a quarter of Chilean lithium miner Sociedad Quimica y Minera de Chile SA (SQM) for $4.1 billion, announced in May 2018.

The high-profile purchase, described by Wu at the time as an “attractive investment” that would greatly benefit shareholders, has left Tianqi saddled with debt it is struggling to repay after a roughly 70% plunge in lithium carbonate prices since the deal was agreed, amid plentiful supply.