JD.com’s Board Couldn’t Meet Without Its Billionaire Founder
HONG KONG—When JD.com Inc.’s billionaire founder and Chief Govt Liu Qiangdong was arrested final week on suspicion of rape, his firm’s board of administrators was technically powerless.
That’s as a result of the Chinese language e-commerce large’s bylaws say the board isn’t allowed to carry a proper assembly with out Mr. Liu being current, or except he recuses himself. JD.com even spells out that “any confinement in opposition to his will” wouldn’t benefit an exception to this rule, though everlasting psychological or bodily incapacity would.
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