He was elected in a closed-door shareholder meeting convened specifically to decide on new leadership for LeEco, according to a transcript of the meeting provided by shareholders, after founder Jia Yueting stepped down as chairman of the listed arm this month shortly after quitting as its director.
Mr Sun is expected to be named LeEco’s chairman at another meeting scheduled for Thursday.
Outside the meeting on Tuesday, 28 people who work at suppliers to LeEco chanted in protest as bodyguards blocked them from storming the meeting room. The contractors said LeEco’s mobile phone unit owed them more than Rmb30m ($4.4m) in payments that had come due more than a year ago.
In January, Sunac emerged as LeEco’s white knight after providing the embattled tech company a $2.4bn emergency cash infusion in return for stakes in LeEco’s core film and television streaming subsidiaries.
During Monday’s meeting, Mr Sun indicated he would focus on revamping LeEco’s the shareholding structure, according to the transcript.
Over the weekend, LeEco denied rumours circulating in Chinese media that Mr Jia had bought mansions in the US, which had stoked worries among investors that he could abscond from his debts in China and seek refuge in the US.
“He will probably come back to China,“ a LeEco spokesperson reassured creditors outside the shareholder meeting on Monday. “I just do not know exactly when.“