Xu Lei, who was beforehand CEO of J.D. Retail, will take up the president and take over the day-to-day operations of JD.com and collaborative growth of various business units of the company.
Meantime, Liu will prevail chairman and CEO. However, he will switch center to formulating the e-commerce giant’s long-term strategies. Furthermore, the company stated that it would mentor younger management and add to the revitalization of rural areas.
The latest progress comes as China’s technology giants, including Alibaba, ByteDance, and Pinduoduo, have experienced leadership reshuffles in the earlier few years. Founders got more of a long-term strategic role.
Liu said in a statement that J.D. has a quality management structure with a large number of outstanding business leaders, who, represented by Mr. Lei Xu, have a firm belief in J.D.’s long-term business philosophy, established leadership capacity, and extensive industry expertise.
For some time, Xu has been rumored to get over the company’s day-to-day operations. Liu has continued relatively low profile following his 2018 arrest in the U.S. on charges of rape. Liu was not charged.
Big Management Moves
Liu still holds about 80% of the voting rights of JD.com. After establishing the company in 2004, J.D. has developed into one of China’s largest e-commerce companies and expanded into health and logistics.
There were two other management movements. Xin Lijun will take up the position of CEO of J.D. Retail following previously heading up J.D. Health. Jin Enlin has been named as CEO of J.D. Health after once being in command of the company’s marketplace business.
Liu stated that looking to the future, the right long-term strategic design, the growth and progress of young talents, and the healthy and organized development of various business units will remain to be the driving force for J.D. in doing the most complex and most challenging, but right and most important things for the industry.