Read more about cookies here. Three sources told Reuters that Lazada is also examining whether to rebrand or shut down LazMall, its take on Alibaba’s Tmall marketplace. 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. The firm said he will now become special assistant to Alibaba Group Chairman and CEO Daniel Zheng. The Lazada spokesman said this was incorrect and LazMall was an important business for the company. There was an error, please provide a valid email address. 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. We apologize, but this video has failed to load. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. 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. 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. Chun Li, Lazada co-president and head of its Indonesia operations, will take the helm from July, replacing co-founder Pierre Poignant. 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. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Singapore-based Shopee, which is backed by Tencent Holdings. 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 said Poignant will now become special assistant to Alibaba Group CEO Daniel Zhang. Reuters reported earlier on Friday that Poignant would be replaced by Chun Li, citing sources. Li will work to improve Lazada’s performance through data technology application and business localisation, the company 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. 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 … 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. Chun Li, Lazada co-president and head of its Indonesia operations, will take the helm in July, replacing co-founder Pierre Poignant. 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. “We introduce change to strengthen our leadership in support of our business strategy”, the spokesman said. Poignant himself replaced Lucy Peng who stepped down as CEO after nine months in 2018 although she remains executive chairwoman. 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 next issue of Top Stories Newsletter will soon be in your inbox. 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. 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 … (Reporting by Keith Zhai and Fanny Potkin in Singapore; Editing by Christian Schmollinger and Christopher Cushing). 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. 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. SINGAPORE — Lazada, the Southeast Asian arm of Chinese e-commerce firm Alibaba Group Holding, announced on Friday it would replace its chief executive officer. 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 … We ask you to keep your comments relevant and respectful. This advertisement has not loaded yet, but your article continues below. Chun Li, who currently runs Lazada’s Indonesian business, will take the reins from July, Lazada said in a statement. All quotes delayed a minimum of 15 minutes. 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. Two people with knowledge of the matter said the move is due to the e-commerce firm’s middling performance. In 2014, Lazada Group operated sites in multiple countries and had raised approximately US$647 million over several investment rounds from … 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. Chun Li, Lazada co-president and head of its Indonesia operations, will take the helm from July, replacing co-founder Pierre Poignant. In-depth reporting on the innovation economy from The Logic, brought to you in partnership with the Financial Post. Unauthorized distribution, transmission or republication strictly prohibited. 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. 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. 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. If you don't see it please check your junk folder. REUTERS/Aly Song Our Standards: The Thomson Reuters Trust Principles. Please try again. 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. 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. Chun Li, Lazada co-president and head of its Indonesia operations, will take the helm from July, replacing co-founder Pierre Poignant. Comments may take up to an hour for moderation before appearing on the site. 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. We encountered an issue signing you up. Chun Li, Lazada co-president and head of its Indonesia operations, will take the helm from July, 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, who currently runs Lazada’s Indonesian business, will take the reins from July, Lazada said in a statement. 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. At Lazada Group has appointed chun Li, Lazada co-president and head of its Indonesia chun li lazada net worth will... Adjust your email settings the company the reins from July, replacing co-founder Pierre Poignant of postmedia Inc.. 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