(Yicai Global) June 26 -- The chief executive of Jingdong Property, a fast-growing warehouse owner of Chinese tech giant JD.Com, will take up the reins at JD Logistics, another subsidiary, after the current CEO, who assumed the position in late 2020, resigned.

Hu Wei, CEO of Jingdong Property, will succeed Yu Rui, who resigned for personal reasons, the warehouse and data center firm said in a statement today.

Hu joined JD.Com in January 2010 and he has worn many hats such as those of the general manager of JD.Com North China and the GM of JD.Com’s logistics department in southwestern China.

The Beijing-based rival of Alibaba Group Holding has been going through its biggest organizational restructuring in recent years by changing the layout of retail, logistics, technology, and healthcare in the first half. Evidently, JD Logistics set up four business groups to replace its seven regional arms on April 13.

JD Logistics logged CNY137.4 billion (USD19 billion) in revenue last year, up 31 percent from a year ago, marking the largest growth among all of JD.Com’s sectors, per the annual earnings report.

Shares of JD Logistics [HKG: 2618] dropped 0.2 percent to HKD12.18 (USD1.60) as of 2.46 p.m.

Editor: Emmi Laine