According to Tianyancha’s app, William Ding, founder of tech giant NetEase, withdrew from his position as legal representative, general manager and director of Beijing NetEase Media Co., Ltd., a subsidiary of NetEase. Li Li, CEO of NetEase Media will take over Ding’s position.
NetEase Media is the main equity of NetEase‘s news business and was established in November 1999 with a registered capital of 10 million yuan ($1.53 million). Its business scope includes organizing cultural exchange activities (except performances), software development, radio and television program production, among others. Ding is the largest shareholder of the company, holding 99%, while Li Li holds 1% of the company’s shares.
Li Li joined NetEase in 2000 and served as sales manager in North China region before becoming general manager of national sales. In 2012, he was promoted to vice president of NetEase, responsible for the management of sales and operations while also heading up the automobile and real estate divisions. On April 8, 2015, Li Li was appointed as CEO of NetEase Media.
In recent years, many founders of the big Internet giants in China have given up their management positions. In July 2020, Colin Huang, founder of Pinduoduo, announced his resignation as CEO of the company. In January 2022, Zhang Yiming stepped down as the legal representative of several affiliated companies of ByteDance. In April 2022, Xu Lei was appointed as the new CEO of JD.com, succeeding Richard Liu, who will remain as the chairman of the board. Finally, Daniel Zhang, CEO and Chairman of Alibaba, stepped down as Chairman and General Manager of two companies related to Tmall and Taobao.