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Benzinga
Benzinga
World
Shanthi Rexaline

This Alibaba Rival's Founder Steps Down As CEO: What You Need To Know

JD.com (NASDAQ:JD), which has emerged as a potent rival to e-commerce giant Alibaba Group Holdings, Inc. (NYSE:BABA) is seeing a change of guard at the helm.

What Happened: Beijing-based JD.com said the baton has been passed from founder chairman and CEO Richard Liu to longtime company executive Lei Xu, with the transition taking immediate effect. Xu will also join the company's board.

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