JD.com Chief Financial Officer Sidney Huang to Retire in September 2020
March 02 2020 - 5:04AM
JD.com, Inc. (NASDAQ: JD), China’s leading technology driven
e-commerce company and retail infrastructure service provider,
today announced that Sidney Huang, Chief Financial Officer of
JD.com, will retire in September 2020. Sandy Xu, currently Senior
Vice President of JD.com and CFO of JD Retail, will succeed Mr.
Huang as the Chief Financial Officer of JD.com and report to
Richard Liu, Chairman and Chief Executive Officer. Mr. Huang will
begin the process of handing the CFO role over to Ms. Xu beginning
in June, leaving ample time for a seamless transition until
Sidney's retirement in September. Mr. Huang will also serve as a
senior consultant to the company following his retirement.
“Sidney has served as our CFO over the past six
and a half years as JD.com grew revenue over 7 times from RMB 69
billion in 2013 to RMB 577 billion in 2019, and achieved important
milestones including our successful IPO in the US and the
remarkable expansion of our business scope,” said Richard Liu,
Chairman and Chief Executive Officer of JD.com. “As CFO, Sidney has
enhanced the value of JD.com by continuously improving our
financial management system, providing deep insights and effective
support for our business development, and establishing confidence
in JD among the investor community. His leadership, integrity,
fairness and professional expertise have made tremendous
contributions to JD.com, earning respect and commendation
throughout the company. I am deeply grateful that JD has had Sidney
to help overcome the many challenges we have faced. We have offered
a retirement plan for Sidney and his family, and we wish him all
the best in his well-deserved retirement."
“Sidney has designed a detailed succession plan
to transition his responsibilities to Sandy. As CFO of JD Retail,
Sandy has contributed significantly to both the business and
finance functions, demonstrating a clear understanding of our
business and strong leadership,” Mr. Liu continued. “With her
impressive professional experience and broad international
perspective, I am confident that she will be a great CFO for JD.com
going forward.”
“It’s truly been a privilege for me to have
served JD.com through some of its most exciting and rewarding
years, and I now look forward to spending more time with my family
and on other personal interests,” said Mr. Huang. “I have much
gratitude for Richard for his trust and support during the years
we’ve worked together, and I feel fortunate to have worked with so
many highly talented JD colleagues. I am also delighted to have
known and worked closely with Sandy since she joined JD. With her
deep professional experience and understanding of the company,
Sandy is clearly the ideal person to take over the CFO role.”
Sandy Xu currently serves as Senior Vice
President of JD.com. She oversees group finance, accounting and tax
functions in addition to serving as the CFO of JD Retail where she
has played a critical role in improving JD Retail’s financial and
operational performance in 2019. Prior to joining JD.com in July
2018, Sandy was an audit partner at PricewaterhouseCoopers and had
nearly 20 years’ experience at PricewaterhouseCoopers in its
Beijing and San Jose offices, focusing on the TMT industry and U.S.
capital markets. Sandy was a Certified Public Accountant in both
China and the United States. She received her bachelor’s degree
with double majors in information science and economics from Peking
University. About JD.com, Inc. JD.com is
a leading technology driven e-commerce company transforming to
become the leading supply chain based technology and service
provider. The company’s cutting-edge retail infrastructure seeks to
enable consumers to buy whatever they want, whenever and wherever
they want it. The company has opened its technology and
infrastructure to partners, brands and other sectors, as part of
its Retail as a Service offering to help drive productivity and
innovation across a range of industries. JD.com is the
largest retailer in China, a member of the NASDAQ100 and a
Fortune Global 500 company.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the “safe harbor” provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
“will,” “expects,” “anticipates,” “future,” “intends,” “plans,”
“believes,” “estimates,” “confident” and similar statements. Among
other things, the quotations from management in this announcement
contain forward-looking statements. JD.com may also make
written or oral forward-looking statements in its periodic reports
to the SEC, in its annual report to shareholders, in press
releases and other written materials and in oral statements made by
its officers, directors or employees to third parties. Statements
that are not historical facts, including statements about JD.com’s
beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: JD.com’s
growth strategies; its future business development, results of
operations and financial condition; its ability to attract and
retain new customers and to increase revenues generated from repeat
customers; its expectations regarding demand for and market
acceptance of its products and services; trends and competition in
China’s e-commerce market; changes in its revenues and certain cost
or expense items; the expected growth of the Chinese e-commerce
market; Chinese governmental policies relating to JD.com’s industry
and general economic conditions in China. Further information
regarding these and other risks is included in JD.com’s filings
with the SEC. All information provided in this press release
and in the attachments is as of the date of this press release,
and JD.com undertakes no obligation to update any
forward-looking statement, except as required under applicable
law.
For investor and media inquiries, please
contact:
Investor Relations Ruiyu Li +86 (10) 8912-6804 IR@JD.com
Media Relations +86 (10) 8911-6155 Press@JD.com
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