Benzinga | Sep 7, 2021 03:31PM EDT

Why JD.com Shares Are Trading Higher Today

JD.com Inc (NASDAQ:JD) is trading higher Tuesday after the company announced the appointment of Lei Xu as president.

JD.com said Xu will be leading the day-to-day operations and collaborative development of various business units of JD.com. Xu will continue to report to the CEO of the company.

Richard Liu, chairman and CEO of JD.com, will devote more time to formulating the company's long-term strategies, mentoring younger management, and contributing to the revitalization of rural areas.

"Looking to the future, the correct long-term strategic design, the growth and development of young talents, and the healthy and coordinated development of various business units will continue to be the driving force for JD in doing the hardest and most challenging, but right and most valuable things for the industry," said Liu.

JD.com is China's second largest e-commerce company in terms of transaction volume.

JD Price Action: JD.com is making a new 52-week high in trading today.

The stock was up 4.48% at $83.43 at time of publication.