Comments may take up to an hour for moderation before appearing on the site. These year-end mega shopping festivals will be opportunities for brands and sellers to acquire new customers and boost their sales performance," said Lazada Group's Chief Executive Officer, Chun Li. James Sullivan, who heads Lazada Logistics, is also expected to step down, two people said. Lazada has disputed those findings without providing details. Southeast Asian e-commerce firm Lazada, a unit of Alibaba Group Holding Ltd , on Friday named its third chief executive in three years - a move that comes after it lost ground last year to rival Shopee. Alibaba has had struggles in managing Lazada and sources have highlighted a long-running culture clash with management from China and heavy executive turnover in recent years. In 2014, Lazada Group operated sites in multiple countries and had raised approximately US$647 million over several investment rounds from … This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. Southeast Asian e-commerce firm Lazada, a unit of Alibaba Group Holding Ltd, on Friday named its third chief executive in three years - a move that comes after it lost ground last year to rival Shopee. Two people with knowledge of the matter said the move is due to the e-commerce firm’s middling performance. Shopee's website also attracts more visitors than Lazada's, iPrice said. Unauthorized distribution, transmission or republication strictly prohibited. Three sources also told Reuters Lazada is examining whether to rebrand or shut down LazMall, its take on Alibaba’s Tmall marketplace where companies set up virtual shops. Poignant himself replaced Lucy Peng who stepped down as CEO after nine months in 2018 although she remains executive chairwoman. Mr Li, who joined Alibaba Group in 2014 as chief technology officer for its B2B business unit, was appointed co-president of Lazada in June 2017 and Lazada Indonesia CEO in July last year. Alibaba has long struggled to manage Lazada, a company it owns 90% of after investing $3 billion since 2016, with employees highlighting a long-running culture clash with management from China. The firm in a statement said Li would work to improve Lazada’s standing through data technology application and business localisation across the firm’s six markets. (Reporting by Keith Zhai and Fanny Potkin in Singapore; Editing by Christian Schmollinger and Christopher Cushing). © 2021 Financial Post, a division of Postmedia Network Inc. All rights reserved. A Lazada spokesman said there was “no truth to this statement” and the company rejected what it called an unsubstantiated assessment of its performance. Chun Li, Lazada co-president and head of its Indonesia operations, will take the helm from July, replacing co-founder Pierre Poignant. Reporting by Keith Zhai and Fanny Potkin in Singapore; Editing by Edwina Gibbs. If you don't see it please check your junk folder. In-depth reporting on the innovation economy from The Logic, brought to you in partnership with the Financial Post. Alibaba's Lazada appoints Chun Li as new CEO Back to video Reuters reported the move earlier on Friday, citing sources. Three sources told Reuters that Lazada is also examining whether to rebrand or shut down LazMall, its take on Alibaba’s Tmall marketplace. Lazada said Poignant will now become special assistant to Alibaba Group CEO Daniel Zhang. Lazada Group is a Singaporean multinational technology company which focuses mainly on e-commerce.Founded by Maximilian Bittner with the backing of Rocket Internet in 2012, it is currently owned by the Alibaba Group after its acquisition in 2016. The change was made after a middling performance from the e-commerce firm, two sources with knowledge of the matter told Reuters, declining to be identified as they were not authorised to speak to media. All quotes delayed a minimum of 15 minutes. Chun Li, Lazada co-president and head of its Indonesia operations, will take the helm from July, replacing co-founder Pierre Poignant. Lazada Group Chief Executive Officer and co-founder Pierre Poignant will be replaced by Chun Li, a former Alibaba executive, who is currently Lazada c.. ... Chinese investments worth … Reuters reported earlier on Friday that Poignant would be replaced by Chun Li, citing sources. The firm said in a statement that Lazada Group Chief Executive Officer and co-founder Pierre Poignant will be replaced by Chun Li, a former Alibaba executive, who is currently Lazada … The next issue of Top Stories Newsletter will soon be in your inbox. Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc. A welcome email is on its way. Chun Li, Lazada co-president and head of its Indonesia operations, will take the helm from July, SINGAPORE (Reuters) - Southeast Asian e-commerce firm Lazada, a unit of Alibaba Group Holding Ltd. , on Friday named its third chief executive in three years - a move that comes after it lost ground last year to rival Shopee. Li will work to improve Lazada’s performance through data technology application and business localisation, the company said. Alibaba's Lazada announces Chun Li as new CEO, tap here to see other videos from our team. See here for a complete list of exchanges and delays. We have enabled email notifications—you will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. Chun Li, who currently runs Lazada’s Indonesian business, will take the reins from July, Lazada said in a statement. Our Standards: The Thomson Reuters Trust Principles. Alibaba's Lazada appoints Chun Li as new CEO FILE PHOTO: The logo of Alibaba Group is seen at the company's headquarters in Hangzhou, Zhejiang province, China, Nov. 18, 2019. “We introduce change to strengthen our leadership in support of our business strategy”, the spokesman said. Southeast Asian e-commerce firm Lazada, a unit of Alibaba Group Holding Ltd , on Friday named its third chief executive in three years - a move that comes after it lost ground last year to rival Shopee. Southeast Asian e-commerce firm Lazada, a unit of Alibaba Group Holding Ltd , on Friday named its third chief executive in three years - a move that comes after it lost ground last year to rival Shopee. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. He will succeed Pierre Poignant, who will become special assistant to Alibaba Group chair and CEO Daniel Zhang. Chun Li, Lazada co-president and head of its Indonesia operations, will take the … Chun Li, Lazada co-president and head of its Indonesia operations, will take the helm from July, replacing co-founder Pierre Poignant. Chun Li, Lazada co-president and head of its Indonesia operations, will take the helm from July, replacing co-founder Pierre Poignant. We encountered an issue signing you up. Chun Li, Lazada co-president and head of its Indonesia operations, will take the helm from July, replacing co-founder Pierre Poignant. Singapore-based Shopee, which is … Lazada, the Southeast Asian ... Lazada Chief Executive Officer Pierre Poignant will be replaced by Chun Li, a Lazada co-founder and head of its Indonesia operations, they said. Chun Li will be stepping up from his position as group president at Lazada to his new post as the group chief executive in Lazada on 1st July. Visit our Community Guidelines for more information and details on how to adjust your email settings. Singapore-based Shopee, which is backed by Tencent Holdings 0700.HK, was the most downloaded e-commerce app and the most used in Southeast Asia as of end-2019, knocking Lazada to second place, according to research firm iPrice. Singapore-based Shopee, which is backed by Tencent Holdings. Lazada, the Southeast Asian arm of Chinese e-commerce firm Alibaba Group Holding, said on Friday it would replace its chief executive officer, as it battles for dominance in the fast-growing market. Southeast Asian e-commerce firm Lazada, a unit of Alibaba Group Holding Ltd, on Friday named its third chief executive in three years - a move that comes after it lost ground last year to rival Shopee. , was the most downloaded e-commerce app and the most used in Southeast Asia as of end-2019, knocking Lazada to second place, according to research firm iPrice. We ask you to keep your comments relevant and respectful. Chun Li, Lazada co-president and head of its Indonesia operations, will take the helm from July, replacing co-founder Pierre Poignant. He will also continue his current role as chief executive of Lazada Indonesia. SINGAPORE (Reuters) - Southeast Asian e-commerce firm Lazada, a unit of Alibaba Group Holding Ltd BABA.N, on Friday named its third chief executive in three years - a move that comes after it lost ground last year to rival Shopee. Alibaba's Lazada announces Chun Li as new CEO Back to video Reuters reported earlier on Friday that Poignant would be replaced by Chun Li, citing sources. Poignant had himself replaced Lucy Peng, an Alibaba co-founder, who stepped down as CEO after 9 months in 2018 although she remains executive chairwoman. The change was made after a middling performance from the e-commerce firm, two sources with knowledge of the matter told Reuters, declining to be identified as they were not authorised to speak to media. The Lazada spokesman said this was incorrect and LazMall was an important business for the company. Alibaba’s Lazada has named Chun Li as its new group chief executive officer, taking over from current CEO Pierre Poignant. E-commerce in Southeast Asia was worth $38 billion last year and is expected to grow rapidly, according to a study by Google, Temasek and Bain & Company. The firm said he will now become special assistant to Alibaba Group Chairman and CEO Daniel Zheng. 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