Alibaba's South Asian Arm Gets New CEO in Latest Exec Shuffle

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Alibaba's South Asian Arm Gets New CEO in Latest Exec Shuffle

Bloomberg01-24

Lazada’s CEO is taking over in addition to his current roleAlibaba is said to be exploring an IPO of its global arm(Bloomberg) -- Alibaba Group Holding Ltd.’s South Asian online retailer Daraz Group ...

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China Weighs Stock Market Rescue Package Backed by $278 Billion. Turkey Approves Sweden NATO Bid, Leaving Hungary as Holdout. An Isolated Israel Doubles Down on War in Gaza — At All Costs. China’s Bold Stock-Market Rescue Plan Leaves Investors Skeptical. James Dong, 44, who heads Alibaba’s Southeast Asian arm Lazada Group SA, will replace Daraz founder Bjarke Mikkelsen as acting CEO with immediate effect and oversee its operations in addition to his other duties, Daraz said in a statement Wednesday.Lazada is cutting jobs as it battles Sea Ltd.’s Shopee as well as ByteDance Ltd.’s TikTok Shop in the rapidly evolving Southeast Asian e-commerce landscape. 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TikTok Shop last December restarted its operations in Indonesia after agreeing to invest $1.5 billion in a joint venture with Indonesia’s GoTo Group.Dong will work to integrate Daraz with the different companies in Alibaba’s international online shopping unit, Mikkelson said in the statement. “With this structure, we will have a more focused strategy and efficient business model,” he said.A one-time business assistant to former group CEO Daniel Zhang, Dong headed Alibaba’s globalization strategy and corporate development before joining Lazada as head of Thailand operations in 2018, according to the company’s website. He became Lazada’s CEO in 2022.Alibaba acquired Daraz from Rocket Internet SE in 2018 in an overseas foray that now spans Lazada in Southeast Asia and Trendyol in Turkey. The Pakistani firm, which also operates in Bangladesh, Nepal and Sri Lanka, last February cut 11% of jobs to weather a slump in online commerce, after the war in Ukraine and soaring inflation disrupted supply chains and economic growth.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":9,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}