JD.com appoints its first ever president, founder to focus on long-term strategies By Reuters

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© Reuters. FILE PHOTO: A sign of China’s e-commerce company JD.com is seen at its shop at a mall in Shanghai, China October 26, 2018. REUTERS/Aly Song/File Photo

SHANGHAI (Reuters) – China’s JD (NASDAQ:).com said on Monday Xu Lei will become the e-commerce giant’s first ever president, making way for chief executive and founder Richard Liu to devote more time to formulating long-term strategies.

Lei, previously the CEO of JD Retail, will fill the new position and lead the day-to-day operation and development of JD.com’s various business units, the company said in a statement.

Liu, who started the company that would become JD.com in 1998, will also spend more time mentoring younger management and contributing to the revitalisation of rural areas, it said.

Xin Lijun, who had previously headed up JD Health, will take over from Xu as JD Retail’s chief while Jin Enlin will become JD Health’s new CEO.

“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.

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