Chun Li, Lazada co-president and head of its Indonesia operations, will take the helm in July, replacing co-founder Pierre Poignant. Lazada has disputed those findings without providing details. 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. 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 … 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. Our Standards: The Thomson Reuters Trust Principles. SINGAPORE — Lazada, the Southeast Asian arm of Chinese e-commerce firm Alibaba Group Holding, announced on Friday it would replace its chief executive officer. (Reporting by Keith Zhai and Fanny Potkin in Singapore; Editing by Christian Schmollinger and Christopher Cushing). 365 Bloor Street East, Toronto, Ontario, M4W 3L4. Shopee's website also attracts more visitors than Lazada's, iPrice said. Unauthorized distribution, transmission or republication strictly prohibited. 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. Three sources told Reuters that Lazada is also examining whether to rebrand or shut down LazMall, its take on Alibaba’s Tmall marketplace. Li will work to improve Lazada’s performance through data technology application and business localisation, the company said. This advertisement has not loaded yet, but your article continues below. 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, 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 … Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. REUTERS/Aly Song Visit our Community Guidelines for more information and details on how to adjust your email settings. 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. 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 co-president and head of its Indonesia operations. 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. 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. 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. Please try again. Singapore-based Shopee, which is backed by Tencent Holdings. 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. All quotes delayed a minimum of 15 minutes. 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. 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. Two people with knowledge of the matter said the reshuffle is due to the e-commerce firm’s middling performance. In-depth reporting on the innovation economy from The Logic, brought to you in partnership with the Financial Post. There was an error, please provide a valid email address. , 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. Poignant himself replaced Lucy Peng who stepped down as CEO after nine months in 2018 although she remains executive chairwoman. Chun Li, Lazada co-president and head of its Indonesia operations, will take the helm from July, replacing co-founder Pierre Poignant. Before the appointment, Li was appointed co-president in June 2017 and was also named Lazada Indonesia CEO in July 2019. See here for a complete list of exchanges and delays. 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. In 2014, Lazada Group operated sites in multiple countries and had raised approximately US$647 million over several investment rounds from … 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. We apologize, but this video has failed to load. Chun Li, who currently runs Lazada’s Indonesian business, will take the reins from July, Lazada said in a statement. Chun Li will be the third CEO in three years at Lazada Group. Alibaba's Lazada announces Chun Li as new CEO, tap here to see other videos from our team. Read more about cookies here. 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. 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. He will succeed Pierre Poignant, who will become special assistant to Alibaba Group chair and CEO Daniel Zhang. 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. Comments may take up to an hour for moderation before appearing on the site. Singapore-based Shopee, which is … 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. 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. 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. Chun Li, Lazada co-president and head of its Indonesia operations, will take the … 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. Reuters reported earlier on Friday that Poignant would be replaced by Chun Li, citing sources. Chun Li, Lazada co-president and head of its Indonesia operations, will take the helm from July, replacing co-founder Pierre Poignant. 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.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, The Lazada spokesman said this was incorrect and LazMall was an important business for the company. 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. 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. Lazada Group has appointed Chun Li as the group chief executive officer (CEO), a media release revealed. 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. Chun Li, who currently runs Lazada’s Indonesian business, will take the reins from July, Lazada said in a statement. “We introduce change to strengthen our leadership in support of our business strategy”, the spokesman said. Chun Li, Lazada co-president and head of its Indonesia operations, will take the helm from July, replacing co-founder Pierre Poignant. The firm said he will now become special assistant to Alibaba Group Chairman and CEO Daniel Zheng. The next issue of Top Stories Newsletter will soon be in your inbox. © 2021 Financial Post, a division of Postmedia Network Inc. All rights reserved. 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. 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. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. 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. 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. Two people with knowledge of the matter said the move is due to the e-commerce firm’s middling performance. Alibaba’s Lazada has named Chun Li as its new group chief executive officer, taking over from current CEO Pierre Poignant. Singapore-based Shopee, which is … Reporting by Keith Zhai and Fanny Potkin in Singapore; Editing by Edwina Gibbs. 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. If you don't see it please check your junk folder. Two people with knowledge of the matter said the move is due to the e-commerce firm’s middling performance. James Sullivan, who heads Lazada Logistics, is also expected to step down, two people said. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. Lazada said Poignant will now become special assistant to Alibaba Group CEO Daniel Zhang. Lazada has struggled to fend off rivals like the Singapore-headquartered SEA’s e-commerce arm Shopee, which is backed by Alibaba rival Tencent, for control of the fast-growing market of 650 million consumers. 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. Chun Li, Lazada co-president and head of its Indonesia operations, will take the helm from July, replacing co-founder Pierre Poignant. Shopee's website also attracts more visitors than Lazada's, iPrice said. 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, Lazada co-president and head of its Indonesia operations, will take the helm from July, replacing co-founder Pierre Poignant. We ask you to keep your comments relevant and respectful. Alibaba's Lazada appoints Chun Li as new CEO Back to video Reuters reported the move earlier on Friday, 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. Chun Li, Lazada co-president and head of its Indonesia operations, will take the helm from July, replacing co-founder Pierre Poignant.