JD.com, Chinas second-largest e-commerce player, is restructuring its e-commerce business in a bid to respond to the hugely competitive retail market and allay investor concerns.
The changes come just days after the companys founder and CEO Richard Liu was cleared of felony rape charges in the US. US prosecutors stated there was insufficient evidence to follow through with charges against Liu, who was arrested in Minneapolis in August and released without charge.
In the months following Lius arrest, JD.com suffered steady falls in shares, dropping to a 19-month low and investors questioned Lius tight control over the company. Liu holds 16% of JD.com shares, however, a dual stock system means he controls nearly 80% of voting rights, giving…
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