Retail appoints new president, founder to focus on long-term strategy


Richard Liu, founder and chief executive officer of

Billy H.C. Kwok | Bloomberg | Getty Images

GUANGZHOU, China —’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 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…


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