JD.com appoints first ever president

China’s JD.com said on Monday Xu Lei will become the e-commerce giant’s first ever president.

JD.com’s chief executive and founder Richard Liu will now focus on formulating long-term strategies.

JD.com said in a statement that 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.

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.

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