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JD.com appoints new president, founder to focus on long-term strategy

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Richard Liu, founder and chief executive officer of JD.com.

Billy H.C. Kwok | Bloomberg | Getty Images

GUANGZHOU, China — JD.com’s founder and CEO Richard Liu is stepping back from day-to-day operations while the Chinese e-commerce giant said it has created a new president role.

Xu Lei, who was previously CEO of JD Retail, will take up the role of president and take over day-to-day operations of JD.com and collaborative development of various business units of the company.

Meanwhile, Liu will remain chairman and CEO but will switch focus to formulating the e-commerce giant’s long-term strategies, mentoring younger management and “contributing to the revitalization of rural areas,” the…



Source cnbc.com

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