At a 21 May 2020 Oceanwide Holdings board meeting, Lu stood down as chairman, and his position was assumed by Song Hongmo.
[1][2] On 29 May 2020, Lu stood down as CEO, and that position was also assumed by Song Hongmo.
[3][4] Lu is a member of the Chinese Communist Party, but does not hold any official government positions.
He is a member of the standing committee of the Chinese People's Political Consulative Conference (CPPCC).
[6] According to Forbes, Lu Zhiqiang has a net worth of $5.2 billion, as of August 2015.