June 26, 2023 – JD Logistics (02618.HK) announced that CEO Yu Rui is stepping down from his role as executive director, CEO, and authorized representative due to personal health reasons. The former CEO of JD.com‘s product development division, Hu Wei, will take over as the new CEO of JD Logistics.
Under Yu Rui’s leadership, JD Logistics experienced significant growth. The company’s first-quarter earnings report showed a revenue of RMB 36.73 billion, an increase of 34.3% compared to the same period last year. Notably, the revenue from external customers totaled RMB 25.52 billion, representing a 60% year-over-year growth and accounting for 70% of the total revenue.
Hu Wei, the incoming CEO, has a long history with JD.com and its subsidiaries and affiliates, collectively referred to as the “JD Group.” He joined the group in January 2010 and has held various positions within the organization. From December 2017 to March 2019, he served as the General Manager of the group’s North China region. Between May 2015 and November 2017, he was the General Manager of JD Group’s logistics division in the Southwest region. From January 2010 to April 2015, he served as the Director of Human Resources in JD Group’s logistics division.
SEE ALSO: JD.com Changes Leadership, CEO Xu Lei Will Retire for Personal Reasons
Prior to his appointment as the CEO of JD Logistics, Hu Wei served as the CEO of JD.com‘s Intelligent Product Development Co., Ltd. from April 2019 to June 2023. In addition, from February 2022, Hu Wei served as a director of China Logistics Assets Holdings Co., Ltd., and was its Chairman, Executive Director, and CEO from February to July 2022. Furthermore, from February 2021 to June 2023, he served as a non-executive director of ESR Group Limited (stock code: 1821).
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