JD.com Founder Richard Liu Returns to China

Richard Liu, the founder and chairman of Chinese e-commerce big JD.com, was not too long ago noticed arriving at Beijing Capital International Airport. According to home media outlet Sina Tech, sources shut to Liu mentioned that he had returned to work in China instantly after his little one was born.

Web customers made feedback comparable to, “Career is still in the first place,” and “I have a hunch that many internet giants’ founders will return again.” However, in accordance to National Business Daily‘s report, inner workers felt that Liu had by no means left the corporate.

In April final 12 months, Liu introduced that he would step down as CEO of JD.com, to get replaced by Xu Lei. At that point, the agency mentioned that Liu would commit extra vitality to long-term strategic design, main strategic decision-making and deployment, coaching younger skills and rural revitalization.

After a sexual assault case within the United States got here to an finish in October 2022, Liu returned to the entrance line to take energy and “seriously rectify” JD.com.

On November 20 final 12 months, Liu convened all senior executives for an almost four-hour administration coaching assembly. “JD.com‘s top leaders are me and Xu Lei. In recent years, I have been trying to decentralize. Xu is devoting himself to pragmatic stuff.”

At the assembly, Liu criticized some senior executives, saying that “those who fool themselves with Powerpoint and false words are liars,” indicating that some senior executives are addicted to shows and fancy phrases, however implementation is a multitude. Liu additionally mentioned that the administration group doesn’t want so many new phrases, however ought to return to the 5 core components of enterprise – product, worth, service, value and effectivity.

Since Liu returned to JD.com, enhancing the remedy of grass-roots workers has develop into a spotlight. On November 22, Liu issued an inner letter to all workers, saying that the remedy of workers and executives ought to rise and fall respectively. After that, in a brand new 12 months congratulatory letter for 2023, JD.com as soon as once more promised to enhance the remedy of grassroots workers. The letter identified that previously three years, JD.com has added 280,000 workers, and the full variety of workers has exceeded 540,000.

SEE ALSO: JD.com to Cut Executive Salary by 10-20%

According to a monetary report from the third quarter of fiscal 12 months 2022, JD.com drastically reversed the lack of 2.8 billion yuan ($416 million) in the identical interval of 2021 and gained a internet revenue of almost 6 billion yuan. In Liu’s personal phrases, after greater than 10 years of laborious work, JD.com has lastly ushered in an necessary second of full revenue.

According to Chinese enterprise knowledge platform Tianyancha, there are at present 70 enterprises related to Liu, 20 of which are actually in existence or operation, protecting science and know-how, logistics, funding, enterprise administration, e-commerce and so forth. Through direct or oblique shareholding, Liu has the precise management rights of over 300 enterprises.

According to a report by Huxiu, folks shut to Liu and different high-level officers revealed that Liu might take part in additional each day work in 2023. Liu’s sequence of actions might clarify every little thing.

Sign up right now for five free articles month-to-month!