JD.com’s billionaire founder Richard Liu berates aides for slow growth and strategy mistakes as industry struggles in wake of Covid-19. Analysts say reports of Liu’s intervention shows he is still in firm control of ecommerce giant despite stepping back from frontline roles. — SCMP
Richard Liu Qiangdong, the billionaire founder of JD.com, has ended a low-profile period and stepped forward to lecture executives at the ecommerce giant, threatening to fire underperformers as business growth slows.
In two video conference meetings across November and December, Liu criticised the company’s executives and, without naming any specific individuals, described some as “liars”, according to people briefed on the meetings. Liu spoke from Hong Kong after settling a civil case involving a rape allegation against him in the US in early October.
