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Chinese Tech Giant Founder Richard Liu to Step Back From Daily Business – The Wall Street Journal

Chinese e-commerce group Inc. named its first president Monday, paving the way for founder and Chief Executive Richard Liu to step back from day-to-day business to focus on longer-term strategy and mentoring young managers.

The decision by Mr. Liu, who is also known by the Chinese name Liu Qiangdong, to step back sets up a possible succession plan and follows similar moves by other founders of Chinese tech giants facing tougher competition and a widening crackdown by Beijing.