JD Logistics No.1 resigns! The successor is someone born in the 1980s, who is the CEO of JD.com Group
On the morning of June 26th, JD Logistics announced on the Hong Kong Stock Exchange that JD Logistics CEO Yu Rui has resigned as Executive Director, CEO, and Authorized Representative due to personal health reasons, effective from June 26th, 2023.
According to First Financial, Yu Rui's resignation is related to his physical health, and JD.com hopes that he will recover and return soon.
Hu Wei, the new CEO of JD Logistics, and Yu Rui, both born in the 1980s. Hu Wei joined JD Group in January 2010 and served as the CEO of JD Intelligent Industry Development Co., Ltd. from April 2019 to June 2023.
It is reported that Hu Wei has held multiple positions at JD Group and JD Logistics, including the General Manager of JD Group's North China region, the General Manager of JD Group's Logistics Department's Southwest region, and the Director of JD Group's Logistics Department's Human Resources department. Hu Wei has been serving as a director of China Logistics Asset Holdings Limited since February 2022, and served as the Chairman, Executive Director, and CEO of China Logistics Asset from February to July 2022.
According to insiders familiar with Hu Wei at JD.com, he grew up in the logistics system and is familiar with various aspects of logistics business. Over the past four years, he has been fully responsible for JD Industrial Development. Through his expertise in organizational management, he has cultivated an excellent management team, improved mechanism processes, and optimized control systems, enabling JD Industrial Development to quickly acquire core capabilities in the entire investment, finance, management, and return chain in the past few years. Before joining JD Group, Hu Wei served as the Human Resources Manager at Chengdu Renrenle Commercial Co., Ltd. from November 2006 to January 2010.
It is understood that after Hu Wei becomes the CEO of JD Logistics, JD Production and Development will be succeeded by Cao Dong. Cao Dong has been with JD for more than 11 years and was previously known as the CFO of JD Health. Earlier, he served as the head of JD Group's audit department, financial settlement center, and budget and analysis department.
![JD Logistics No.1 resigns! The successor is someone born in the 1980s, who is the CEO of JD.com Group](https://a5qu.com/upload/images/21f41f28e0a5f84dcfc4e3fef382ef11.jpg)
On April 25, 2017, JD.com announced the establishment of a JD Logistics subsidiary group for independent operation, with Wang Zhenhui as the CEO. On December 30, 2020, Wang Zhenhui, former CEO of JD Logistics, resigned due to personal reasons, and Yu Rui, former Chief Human Resources Officer of the group, took over as CEO of JD Logistics.
From the perspective of company development, JD Logistics has recently undergone significant changes. In addition to personnel changes, in the first half of this year, JD.com made the largest organizational restructuring in recent years in its retail, logistics, technology, health and other business sectors. On April 13th, JD Logistics adjusted its organization and established four major business units, canceling seven regional companies.
The financial report shows that JD Logistics revenue in the fourth quarter of last year was 43 billion yuan, a year-on-year increase of 41.4%. In 2022, JD Logistics achieved a total revenue of 137.4 billion yuan, a year-on-year increase of 31.2%. The revenue from external customers reached 89.1 billion yuan, a year-on-year increase of 50.8%, accounting for nearly 70%. Including Debang, JD Logistics currently has over 370000 frontline employees. In 2022, JD Logistics's frontline employee compensation and benefits expenses reached 44.6 billion yuan, with a cumulative expenditure of 106.5 billion yuan in the past three years, making it the department with the fastest revenue growth rate.
In addition, Hu Wei, who was previously responsible for JD.com, submitted a prospectus on March 30th seeking to go public. According to the prospectus, JD.com was established in 2012 and has been operating independently since 2018. Currently, JD.com holds approximately 74.96% of the total issued share capital of JD.com. JD Industrial Development is positioned as a modern infrastructure development and management platform, mainly including logistics parks, industrial parks, and others. Its customer base has expanded to new economic industries such as third-party logistics, e-commerce, manufacturing, and retail. JD.com currently operates in five countries including China, Indonesia, Vietnam, the United Kingdom, and the Netherlands.