Chinese e-commerce company JD.com said Thursday that its founder Richard Liu has left his position as CEO, the latest Chinese billionaire founder to step aside amid increased government scrutiny of the country’s technology industry.
Liu will hand over the reins to JD.com’s president Xu Lei, according to a company statement. Liu will remain as the chairman of the board and continue to focus on JD.com’s “long-term strategies, mentoring younger management, and contributing to the revitalization of rural areas,” the statement said.
