JD’s billionaire founder steps down as CEO of US$92 billion empire

7/4/2022 6:42:00 AM

Tech: JD’s Billionaire Founder Steps Down as CEO of $92 Billion Empire - Bloomberg

Tech: JD’s Billionaire Founder Steps Down as CEO of $92 Billion Empire - Bloomberg

(April 7): JD.com Inc.’s billionaire founder Richard Liu has stepped down as chief executive officer of China’s No. 2 online retailer, joining tech tycoons that exited top management roles after Beijing’s sweeping internet-sector crackdown.Xu Lei, who was recently promoted to president after more than a decade at the company, takes the helm of the e-commerce titan effective immediately. Liu’s lieutenant joins JD’s six-member board while Liu remains chairman, the company said in a filing Thursday. Its shares slid as

A (April 7): JD.A (April 5): Jason Kilar is departing as chief executive officer of WarnerMedia, days before the parent of Warner Bros studios and HBO merges with Discovery Inc to form a new media company.04- 05- 2022 04:28 PM HONDA Malaysia Sdn Bhd today announced the appointment of a new managing director and chief executive officer, Hironobu Yoshimura (pix) , who succeeded Madoka Chujo.A (April 5): Jason Kilar is departing as chief executive officer of WarnerMedia, days before the parent of Warner Bros studios and HBO merges with Discovery Inc to form a new media company.

com Inc.’s billionaire founder Richard Liu has stepped down as chief executive officer of China’s No.“We’re leading the industry creatively,” Kilar said in the note to staff.2 online retailer, joining tech tycoons that exited top management roles after Beijing’s sweeping internet-sector crackdown.On his new role at Honda Malaysia, Yoshimura said: “I am excited to take up this new role at Honda Malaysia.Xu Lei, who was recently promoted to president after more than a decade at the company, takes the helm of the e-commerce titan effective immediately.We’re operating as one team, proudly and successfully going direct to consumers across the globe.Liu’s lieutenant joins JD’s six-member board while Liu remains chairman, the company said in a filing Thursday.” His exits paves the way for David Zaslav, the chief executive officer of Discovery, to begin building his own management team at the soon-to-be-combined companies.

Its shares slid as much as 2.AT&T, which bought the former Time Warner Inc for US$85 billion in 2018, is returning to its roots as a phone company after a failed experiment in media.“Most importantly, Honda Malaysia has persevered through and overcame many challenges over the years.9% in early Hong Kong trading.Some of China’s richest entrepreneurs have relinquished the reins of their companies in the past two years, after Xi Jinping’s administration trained its sights on arenas from e-commerce to gaming, seeking to curb the growing influence of internet firms.AT&T was on the verge of launching a streaming business, HBO Max, and viewed Kilar as the right person for the job.ByteDance Ltd.The models are City, all-new City Hatchback and all-new Civic.founder Zhang Yiming stepped down as chairman last year, months after resigning as chief executive officer of the TikTok owner.That broke the old rules of distribution, which called for cinemas to have new movies exclusively for 90 days or more.That broke the old rules of distribution, which called for cinemas to have new movies exclusively for 90 days or more.

Kuaishou Technology founder Su Hua ceded leadership to fellow co-founder Cheng Yixiao.And Colin Huang, who founded e-commerce upstart Pinduoduo Inc.., dropped his CEO role in 2020 ahead of Beijing’s crackdown.Liu himself had gradually stepped back from day-to-day operations since he was accused of rape in 2018, a charge the billionaire has denied.The leadership reshuffle marks a further retreat from the online shopping empire he founded in Beijing in 2004.

JD was one of the few Chinese internet titans to avoid a direct hit from the sweeping champaign to rein in Big Tech.In fact, it has benefited from the crackdown by adding new and returning brands like Starbucks and Estee Lauder to its platform, after antitrust watchdogs fined larger rival Alibaba Group Holding Ltd.for antitrust violations and forced it to revamp practices around merchant exclusivity.But the company has been caught in a broader Chinese tech selloff and economic slowdown.JD’s market valuation has shrunk by nearly 45% from its peak last year to about $92 billion.

Liu will continue devoting his time to guiding the company’s long-term strategies while mentoring younger management, JD said in its statement.He will also contribute to the revitalization of rural China -- a priority of Xi’s “common prosperity” agenda.Subscribe to Mid-day email alert We deliver news to your inbox daily.

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Jason Kilar steps down as WarnerMedia CEO ahead of deal closing(April 5): Jason Kilar is departing as chief executive officer of WarnerMedia, days before the parent of Warner Bros studios and HBO merges with Discovery Inc to form a new media company.Kilar, 50, who co-founded and led the Hulu streaming service before going on to run WarnerMedia under current owner AT&T Inc, is stepping down, according to an internal memo.“We’re leading the industry creatively,” Kilar said in the note to staff. “We’ve elevated technology, product, and design to the highest levels

Yoshimura is new Honda Malaysia MD, CEOHONDA Malaysia Sdn Bhd today announced the appointment of a new managing director and chief executive officer, Hironobu Yoshimura (pix), who succeeded...

Jason Kilar steps down as WarnerMedia CEO ahead of deal closing(April 5): Jason Kilar is departing as chief executive officer of WarnerMedia, days before the parent of Warner Bros studios and HBO merges with Discovery Inc to form a new media company.Kilar, 50, who co-founded and led the Hulu streaming service before going on to run WarnerMedia under current owner AT&T Inc, is stepping down, according to an internal memo.“We’re leading the industry creatively,” Kilar said in the note to staff. “We’ve elevated technology, product, and design to the highest levels

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