JD.com‘s founder and CEO Richard Liu is taking a step back from managing the company’s day-to-day operations — a responsibility that will now be managed by JD Retail’s chief executive Xu Le.
Le will serve as the president of the company, taking over Liu’s responsibilities and will assist with the development of various business units.
Liu, meanwhile, will continue to serve as the CEO and chairman but will keep his focus on developing new eCommerce strategies, mentoring younger management and contributing to the revitalization of rural areas.
Le’s appointment comes at a time when several other eCommerce giants in China, such as Alibaba and ByteDance, are undergoing similar leadership shuffle, assuming long-term strategy roles.
“Looking to the future, the correct long-term strategic design, the growth and development of young talents, and the healthy and coordinated development of various business units will continue to be the driving force for JD in doing the hardest and most challenging, but right and most valuable things for the industry,” Liu said.
Liu currently owns around 80 percent of the voting rights of JD.com, which has emerged to become one of the largest eCommerce platforms in China. He founded the company in 2004.