China’s rejigs board

China’s rejigs board

The founder of, Richard Liu, has resigned from the role of CEO making way for successor Xu Lei, its erstwhile president. Whether this has come as a result of the Chinese government seeking to clip the wings of billionaire business founders and exert its own control over their companies remains to be seen.

In a recent report, Reuters had said that had made a statement to the effect that Liu will now guide the company’s long-term strategies and focus specifically on supporting the Chinese president’s current drive to skill up younger managers and revitalise rural areas.


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