Yet More Executive Uncertainty at JD.com
In the wake of waves of departures since late last year, embattled e-commerce giant JD.com Inc. announced Tuesday it is moving two senior vice presidents into different roles.
The head of JD.com’s 7Fresh supermarket unit Wang Xiaosong will be replaced by an external hire, while the chief of the online retailer’s fashion and lifestyle business Hu Shengli is also going to be transferred to a new position.
Wang Xiaosong, who has headed multiple units since joining JD.com in 2007, will be replaced by Wang Jing, who has over 20 years of experience in the grocery business, according to the Tuesday statement.
The Nasdaq-listed company did not specify who would replace Hu, nor what his and Wang Xiaosong’s new roles will be.
Wang Xiaosong has headed the company’s electronics and fresh food businesses since leaving Walmart 12 years ago to join JD.com.
Hu joined in 2014 as Wang Xiaosong’s deputy at the company’s electronics unit, before being made its head in 2015. A major reshuffle early last year saw him moved to the fashion and lifestyle business.
The company announced in late December the second major overhaul of its internal structure in 2018, dividing the company into three segments each focusing on different things, such as customer services, business support and risk management. The online retailer said the restructuring will help it cope as the sector shifts away from a decade of high-speed growth.
Personnel changes have swept JD.com since then. In February, the company confirmed plans to lay off 10% of executives at the vice president level or above, in order to cut costs.
From mid-March to the beginning of April, the group’s chief technology officer, chief human resources officer, and chief public affairs officer resigned.
In its latest attempt to cut costs, the e-commerce giant has also decided to eliminate the base salaries of an unknown number of delivery drivers, leaving them relying on performance-based pay, according to a company statement last Sunday.
The company reportedly began firing staff back in November, while its founder Richard Liu — who still holds most of the decision-making power at the company — was facing potential rape charges in the U.S. Prosecutors in Minnesota decided not to file charges against Liu — also known as Liu Qiangdong — at the end of December, but the scandal shook confidence in the company and sent its stock price tumbling.
Contact reporter Isabelle Li (email@example.com)
Apr 19 23:01
Apr 19 18:07
Apr 19 17:18
Apr 19 15:49
Apr 19 14:47
Apr 19 12:01
Apr 19 11:31
Apr 19 02:45
Apr 18 17:03
Apr 18 12:54
Apr 18 10:19
Apr 18 03:26
Apr 18 02:59
Apr 18 02:21
Apr 18 02:32
- 1MSCI Postpones China Index Transition for Nearly Six Months
- 2Incident in Shandong Pharmaceutical Plant Kills 10
- 3JD Logistics Might Go Bust in Two Years if Losses Continue, Founder Says
- 4Jack Ma and Richard Liu Voice Support for Intense ‘996’ Work Culture – and People Are Not Happy About It
- 5‘Avengers: Endgame’ Has Made 400 Million Yuan in China – And It’s Not Even Out Yet
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas