Liu Qiangdong, also known by the English name Richard Liu, has been replaced as the e-commerce firm’s chief executive by Xu Lei, effective immediately. Xu also replaced Liu as company president last September and will join JD.com’s board as an executive director.

Though Liu has stepped back from the day-to-day running of the company he founded in 1998, he will remain the chairman of the board. According to a statement, Liu’s focus will be “on guiding the company’s long-term strategies, mentoring younger management, and contributing to the revitalisation of rural areas.”

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