Another of China’s leading internet executives, NetEase’s founder and chief executive William Ding Lei, has taken a step back from some of his corporate duties. Ding, one of the pioneers of China’s internet industry, has given up his corporate roles at NetEase’s media subsidiary, reports the South China Morning Post. Ding, 50, recently stepped down as the legal representative, general manager and director of Beijing NetEase Media Co, according to corporate registry tracking firm Tianyancha. He was replaced by Li Li, chief executive of Cayman Islands-incorporated NetEase Media.
That change was described by NetEase as part of “normal” business operations, according to a statement on Tuesday from the Nasdaq-listed video gaming giant.
Established in 2015, Beijing NetEase Media manages news aggregator site NetEase News and other online content businesses, according to its website. Ding—ranked No 49 in Forbes’ global billionaires list, with a net worth of $27.7 billion as of Wednesday—controls 99% of the media subsidiary’s shares.
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