Chinese e-commerce giant JD.com removes veteran executive as retail CEO after brutal Singles’ Day price war
- JD.com CEO Sandy Xu Ran will take over leadership of JD Retail from Xin Lijun, the company announced on Wednesday
- The shake-up comes days after the end of the annual Singles’ Day shopping festival, which saw intense competition between JD.com and rival Alibaba
Chinese e-commerce powerhouse JD.com has appointed its CEO as the new chief of the company’s main revenue driver JD Retail in a major executive reshuffle at its core business, as the firm comes under mounting competitive pressure amid a sluggish domestic economy.
The shake-up comes just days after the conclusion of China’s annual Singles’ Day shopping extravaganza, which saw JD.com and rivals including Alibaba Group Holding’s Taobao and Tmall platforms engaged in a brutal price war to draw consumers who have become more conservative with their spending.
The leadership changes at JD.com speaks to the growing challenges faced by traditional e-commerce platforms amid the rapid rise of newcomers in the live-streaming e-commerce sector, according to Zhang Yi, founder of Guangdong-based market consultancy iiMedia.
