JD.com CEO Xu Lei to Resign After One Year in Top Job

JD.com Inc. Chief Executive Officer Xu Lei is stepping down one year after taking the reins from founder Richard Liu last April.

Xu Lei, 49, will retire in June, handing the job over to Chief Financial Officer Xu Ran, the Chinese internet retailer said Thursday. Xu Ran is not related to Xu Lei.

The outgoing chief will serve as the first chairman of the advisory board of JD.com, the company said. Xu Lei said he wants to spend more time with family and called his retirement “a change in the way of living and a change in the angle and position of working.”