China's JD.com's founder and chief executive Richard Liu is to step away from day-to-day operations.
The billionaire will switch his focus to the e-commerce giant's long-term strategy.
The move comes as several other founders of China's tech companies have gradually relinquished the top job.
Including at Alibaba and TikTok-owner ByteDance.
Liu owns nearly 80% of JD's voting power, according to its 2020 annual report, and some investors have previously raised concerns over his tight control.
That became a focus after he was arrested in the U.S. city of Minneapolis in 2017 following a rape allegation, which he denied and was not charged for.
The Chinese government has in recent months launched a regulatory crackdown on a range of industries.
It's left startups and decades-old firms operating in an uncertain environment and rattled investors.
Liu will retain his title as chief executive and his board seat.
JD.com will create a new role of president to run the company's daily operations.
That will be taken on by Xu Lei, currently CEO of JD's biggest division.